Atria Investments Inc Sells 2,397 Shares of Western Digital Co. (NASDAQ:WDC)

Atria Investments Inc decreased its position in Western Digital Co. (NASDAQ:WDC) by 36.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,160 shares of the data storage provider’s stock after selling 2,397 shares during the quarter. Atria Investments Inc’s holdings in Western Digital were worth $248,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. lifted its stake in shares of Western Digital by 6.0% in the 4th quarter. Assetmark Inc. now owns 70,768 shares of the data storage provider’s stock worth $4,220,000 after purchasing an additional 3,985 shares during the period. Keybank National Association OH increased its holdings in Western Digital by 12.2% during the fourth quarter. Keybank National Association OH now owns 4,015 shares of the data storage provider’s stock valued at $239,000 after buying an additional 437 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Western Digital by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,377,361 shares of the data storage provider’s stock worth $141,762,000 after acquiring an additional 119,168 shares during the period. State of Michigan Retirement System boosted its stake in shares of Western Digital by 17.6% during the 4th quarter. State of Michigan Retirement System now owns 104,657 shares of the data storage provider’s stock worth $6,241,000 after acquiring an additional 15,700 shares during the last quarter. Finally, LGT Group Foundation grew its position in shares of Western Digital by 6.0% during the 4th quarter. LGT Group Foundation now owns 42,535 shares of the data storage provider’s stock valued at $2,536,000 after acquiring an additional 2,394 shares during the period. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Price Performance

Western Digital stock opened at $44.34 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. The stock has a market cap of $15.42 billion, a price-to-earnings ratio of 10.56 and a beta of 1.42. The firm has a 50-day moving average of $58.96 and a two-hundred day moving average of $63.52. Western Digital Co. has a 1 year low of $39.42 and a 1 year high of $81.55.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. On average, research analysts forecast that Western Digital Co. will post 4.89 earnings per share for the current year.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 1,659 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the sale, the senior vice president now directly owns 43,776 shares in the company, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

WDC has been the topic of a number of recent research reports. StockNews.com initiated coverage on Western Digital in a report on Wednesday, February 26th. They issued a “buy” rating on the stock. Wedbush reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Western Digital in a research note on Monday, February 10th. The Goldman Sachs Group lifted their price objective on Western Digital from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Susquehanna reduced their target price on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, Rosenblatt Securities lowered their price target on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Western Digital currently has a consensus rating of “Moderate Buy” and an average target price of $80.21.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.