Carnegie Capital Asset Management LLC Sells 470 Shares of Western Digital Co. (NASDAQ:WDC)

Carnegie Capital Asset Management LLC reduced its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,235 shares of the data storage provider’s stock after selling 470 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Western Digital were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Janiczek Wealth Management LLC bought a new position in Western Digital in the third quarter valued at about $28,000. Parkside Financial Bank & Trust lifted its holdings in Western Digital by 79.1% in the third quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock valued at $34,000 after acquiring an additional 330 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Western Digital in the third quarter valued at about $41,000. CVA Family Office LLC bought a new position in Western Digital in the fourth quarter valued at about $41,000. Finally, Fiduciary Group LLC bought a new position in Western Digital in the first quarter valued at about $48,000. 92.51% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Kimberly Alexy sold 2,648 shares of Western Digital stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the transaction, the director now directly owns 20,509 shares in the company, valued at approximately $1,434,604.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Western Digital news, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $75.00, for a total transaction of $33,225.00. Following the completion of the sale, the senior vice president now owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kimberly Alexy sold 2,648 shares of Western Digital stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the sale, the director now directly owns 20,509 shares of the company’s stock, valued at approximately $1,434,604.55. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Western Digital Stock Down 1.3 %

WDC opened at $70.17 on Thursday. Western Digital Co. has a 52 week low of $31.97 and a 52 week high of $76.92. The stock’s fifty day moving average is $63.30 and its two-hundred day moving average is $53.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.67.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Monday, January 29th. The data storage provider reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.61. Western Digital had a negative return on equity of 19.45% and a negative net margin of 19.90%. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period last year, the business posted ($0.69) EPS. The business’s revenue was down 2.4% compared to the same quarter last year. As a group, analysts predict that Western Digital Co. will post -2.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WDC shares. StockNews.com downgraded Western Digital from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. The Goldman Sachs Group upped their price target on Western Digital from $58.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Rosenblatt Securities upgraded Western Digital from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Susquehanna upped their price target on Western Digital from $68.00 to $83.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Finally, Cantor Fitzgerald upped their price target on Western Digital from $70.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.61.

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.