Blueshift Asset Management LLC Buys Shares of 5,664 Western Digital Co. (NASDAQ:WDC)

Blueshift Asset Management LLC bought a new position in Western Digital Co. (NASDAQ:WDC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,664 shares of the data storage provider’s stock, valued at approximately $338,000.

A number of other hedge funds also recently made changes to their positions in WDC. Versant Capital Management Inc grew its stake in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after buying an additional 304 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Western Digital during the 4th quarter valued at $29,000. True Wealth Design LLC increased its holdings in Western Digital by 2,184.2% in the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after purchasing an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in Western Digital in the fourth quarter valued at about $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Western Digital during the fourth quarter valued at about $36,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Stock Down 1.9 %

WDC stock opened at $43.66 on Friday. The stock’s 50 day simple moving average is $57.80 and its 200 day simple moving average is $63.11. The company has a market cap of $15.19 billion, a P/E ratio of 10.40 and a beta of 1.42. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. Western Digital Co. has a fifty-two week low of $39.42 and a fifty-two week high of $81.55.

Western Digital (NASDAQ:WDC) last posted its quarterly 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 net margin of 9.95% and a return on equity of 15.68%. On average, research analysts expect that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 1,659 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the completion of the sale, the senior vice president now owns 43,776 shares in the company, valued at approximately $1,810,575.36. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on WDC. Citigroup upped their price objective on Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Cantor Fitzgerald cut their price target on shares of Western Digital from $95.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Robert W. Baird reduced their price objective on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Wells Fargo & Company cut their target price on Western Digital from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Finally, Barclays decreased their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.