APG Asset Management US Inc. Acquires Shares of 10,882 Western Digital Co. (NASDAQ:WDC)

APG Asset Management US Inc. acquired a new stake in shares of Western Digital Co. (NASDAQ:WDC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,882 shares of the data storage provider’s stock, valued at approximately $649,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WDC. Captrust Financial Advisors boosted its holdings in shares of Western Digital by 21.8% during the 3rd quarter. Captrust Financial Advisors now owns 11,177 shares of the data storage provider’s stock valued at $763,000 after purchasing an additional 1,998 shares during the last quarter. IHT Wealth Management LLC purchased a new stake in shares of Western Digital during the 3rd quarter valued at about $246,000. Quantinno Capital Management LP raised its position in shares of Western Digital by 68.7% during the 3rd quarter. Quantinno Capital Management LP now owns 20,570 shares of the data storage provider’s stock valued at $1,405,000 after buying an additional 8,378 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Western Digital by 20.4% during the 3rd quarter. Wellington Management Group LLP now owns 48,501 shares of the data storage provider’s stock valued at $3,312,000 after buying an additional 8,217 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of Western Digital by 43.9% during the 3rd quarter. National Bank of Canada FI now owns 138,845 shares of the data storage provider’s stock valued at $9,482,000 after buying an additional 42,375 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction on Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the transaction, the senior vice president now owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by corporate insiders.

Western Digital Trading Up 15.1 %

NASDAQ WDC opened at $36.30 on Thursday. The company has a fifty day simple moving average of $49.62 and a two-hundred day simple moving average of $60.38. The stock has a market cap of $12.63 billion, a P/E ratio of 8.64 and a beta of 1.39. Western Digital Co. has a 12-month low of $28.83 and a 12-month high of $81.55. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60.

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

Wall Street Analyst Weigh In

WDC has been the topic of several recent research reports. Susquehanna decreased their target price on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley decreased their target price on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company reduced their price objective on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Citigroup increased their price objective on shares of Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, UBS Group reduced their price objective on shares of Western Digital from $74.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.21.

About Western Digital

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.