Canada Pension Plan Investment Board Has $10.31 Million Holdings in Western Digital Co. (NASDAQ:WDC)

Canada Pension Plan Investment Board lowered its stake in Western Digital Co. (NASDAQ:WDC) by 87.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 136,000 shares of the data storage provider’s stock after selling 935,600 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Western Digital were worth $10,305,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of Western Digital in the first quarter worth $25,000. Fairfield Financial Advisors LTD bought a new stake in Western Digital in the 2nd quarter valued at $29,000. Fidelis Capital Partners LLC acquired a new position in shares of Western Digital in the first quarter valued at about $30,000. 1620 Investment Advisors Inc. acquired a new position in shares of Western Digital during the 2nd quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Western Digital during the second quarter worth approximately $34,000. 92.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on WDC shares. Citigroup decreased their target price on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Loop Capital raised their price objective on shares of Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. TD Cowen cut their target price on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Susquehanna dropped their price target on shares of Western Digital from $88.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Evercore ISI restated an “outperform” rating and set a $85.00 target price on shares of Western Digital in a research report on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.24.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $66.29 on Tuesday. Western Digital Co. has a 1-year low of $35.62 and a 1-year high of $81.55. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The stock has a market cap of $21.65 billion, a PE ratio of -13.34 and a beta of 1.39. The stock’s fifty day simple moving average is $64.43 and its two-hundred day simple moving average is $69.54.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.17. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.77 billion. As a group, analysts forecast that Western Digital Co. will post 7.75 EPS for the current fiscal year.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the sale, the senior vice president now directly owns 28,870 shares in the company, valued at $1,873,374.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Gene M. Zamiska sold 2,900 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total value of $178,292.00. Following the sale, the senior vice president now directly owns 37,448 shares of the company’s stock, valued at $2,302,303.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the transaction, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at $1,873,374.30. The disclosure for this sale can be found here. Insiders have sold a total of 17,955 shares of company stock worth $1,053,560 over the last three months. 0.28% of the stock is currently owned by insiders.

Western Digital 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.