Vontobel Holding Ltd. Sells 7,119 Shares of Western Digital Co. (NASDAQ:WDC)

Vontobel Holding Ltd. reduced its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 25.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,117 shares of the data storage provider’s stock after selling 7,119 shares during the quarter. Vontobel Holding Ltd.’s holdings in Western Digital were worth $1,106,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WDC. Janiczek Wealth Management LLC bought a new stake in shares of Western Digital during the 3rd quarter worth $28,000. Parkside Financial Bank & Trust lifted its position in shares of Western Digital by 79.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock worth $34,000 after buying an additional 330 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Western Digital during the 3rd quarter worth $41,000. CVA Family Office LLC bought a new stake in shares of Western Digital during the 4th quarter worth $41,000. Finally, Fiduciary Group LLC bought a new stake in shares of Western Digital during the 1st quarter worth $48,000. 92.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WDC has been the subject of several recent analyst reports. Mizuho upped their price objective on Western Digital from $66.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft raised Western Digital from a “hold” rating to a “buy” rating and upped their target price for the stock from $45.00 to $65.00 in a report on Tuesday, January 16th. The Goldman Sachs Group upped their target price on Western Digital from $58.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Morgan Stanley upped their target price on Western Digital from $73.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Raymond James upped their target price on Western Digital from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.17.

Western Digital Stock Performance

Shares of Western Digital stock opened at $66.05 on Friday. Western Digital Co. has a one year low of $31.97 and a one year high of $76.92. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.67. The stock’s 50-day moving average is $63.71 and its 200 day moving average is $54.19.

Western Digital (NASDAQ:WDC) last announced its earnings results on Monday, January 29th. The data storage provider reported ($0.69) EPS for the quarter, beating the consensus estimate 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 company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the company earned ($0.69) EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Western Digital Co. will post -2.21 EPS for the current fiscal year.

Insider Activity at Western Digital

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

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.