TIAA Trust National Association Sells 510 Shares of Western Digital Co. (NASDAQ:WDC)

TIAA Trust National Association lessened its position in shares of Western Digital Co. (NASDAQ:WDC) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,228 shares of the data storage provider’s stock after selling 510 shares during the period. TIAA Trust National Association’s holdings in Western Digital were worth $610,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WDC. Versant Capital Management Inc grew its position in shares of Western Digital by 278.9% during the 4th 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 period. True Wealth Design LLC boosted its stake in Western Digital by 2,184.2% during the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after acquiring an additional 415 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Western Digital in the fourth quarter worth $29,000. Comprehensive Financial Planning Inc. PA bought a new stake in Western Digital in the fourth quarter valued at $30,000. Finally, OFI Invest Asset Management acquired a new position in shares of Western Digital during the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the sale, the senior vice president now directly owns 43,776 shares in the company, valued at $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Rosenblatt Securities reduced their target price on Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Robert W. Baird reduced their price objective on Western Digital from $100.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Wells Fargo & Company lowered their target price on Western Digital from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Barclays reduced their price target on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Susquehanna lowered their price objective on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and an average price target of $80.21.

Western Digital Stock Performance

Shares of WDC opened at $41.91 on Friday. The stock has a 50 day moving average of $56.18 and a 200 day moving average of $62.57. The company has a market capitalization of $14.58 billion, a price-to-earnings ratio of 9.98 and a beta of 1.42. Western Digital Co. has a 12 month low of $39.42 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 released its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. As a group, sell-side analysts forecast that Western Digital Co. will post 4.89 earnings per share for the current year.

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.