Western Digital Co. (NASDAQ:WDC) Shares Sold by Alerus Financial NA

Alerus Financial NA trimmed its position in shares of Western Digital Co. (NASDAQ:WDC) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,582 shares of the data storage provider’s stock after selling 4,493 shares during the period. Alerus Financial NA’s holdings in Western Digital were worth $4,447,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in 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 acquiring an additional 304 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Western Digital during the fourth quarter worth approximately $29,000. True Wealth Design LLC increased its stake in shares of Western Digital by 2,184.2% in the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after buying an additional 415 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in Western Digital in the fourth quarter valued at $30,000. Finally, OFI Invest Asset Management bought a new position in Western Digital during the 4th quarter valued at $36,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Stock Down 1.7 %

WDC opened at $41.91 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The company has a market capitalization of $14.58 billion, a PE ratio of 9.98 and a beta of 1.42. Western Digital Co. has a one year low of $39.42 and a one year high of $81.55. The stock’s fifty day moving average is $56.18 and its 200-day moving average is $62.57.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share 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, equities analysts predict that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Insiders Place Their Bets

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 value of $68,616.24. Following the completion of the transaction, the senior vice president now directly 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WDC. Wells Fargo & Company cut their target price on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. 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. Rosenblatt Securities decreased their target price on Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Wedbush restated an “outperform” rating and set a $95.00 price objective on shares of Western Digital in a research note on Monday, February 10th. Finally, Barclays decreased 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. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.