SteelPeak Wealth LLC Sells 9,900 Shares of Western Digital Co. (NASDAQ:WDC)

SteelPeak Wealth LLC trimmed its position in Western Digital Co. (NASDAQ:WDC) by 59.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,860 shares of the data storage provider’s stock after selling 9,900 shares during the quarter. SteelPeak Wealth LLC’s holdings in Western Digital were worth $409,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 304 shares in the last quarter. Eastern Bank purchased a new position in shares of Western Digital during the 3rd quarter valued at $27,000. True Wealth Design LLC grew its position in shares of Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 415 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Western Digital in the third quarter worth $41,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in Western Digital during the third quarter valued at $42,000. 92.51% of the stock is currently owned by institutional investors.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 658 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the completion of the sale, the senior vice president now directly owns 28,863 shares of the company’s stock, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 1,347 shares of company stock worth $93,027. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WDC shares. Morgan Stanley decreased their target price on Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. BNP Paribas dropped their target price on shares of Western Digital from $95.00 to $90.00 in a research report on Thursday, October 24th. Robert W. Baird decreased their price target on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays dropped their price objective on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Benchmark cut Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a research note on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and a consensus target price of $83.68.

Western Digital Trading Up 4.7 %

NASDAQ:WDC opened at $65.78 on Friday. The firm has a market capitalization of $22.74 billion, a P/E ratio of 38.69 and a beta of 1.43. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $65.70 and a 200 day moving average of $65.62. Western Digital Co. has a 52 week low of $52.77 and a 52 week high of $81.55.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 4.81% and a return on equity of 8.57%. On average, research analysts predict that Western Digital Co. will post 5.54 earnings per share for the current year.

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.