PARUS FINANCE UK Ltd Sells 2,870 Shares of Western Digital Co. (NASDAQ:WDC)

PARUS FINANCE UK Ltd lessened its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,661 shares of the data storage provider’s stock after selling 2,870 shares during the quarter. Western Digital accounts for approximately 2.2% of PARUS FINANCE UK Ltd’s portfolio, making the stock its 14th largest position. PARUS FINANCE UK Ltd’s holdings in Western Digital were worth $7,135,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of WDC. Versant Capital Management Inc boosted its position in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after buying an additional 304 shares during the last quarter. Sierra Ocean LLC bought a new position in Western Digital during the 4th quarter valued at $29,000. True Wealth Design LLC boosted its holdings in 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 worth $30,000 after acquiring an additional 415 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Western Digital in the 4th quarter worth $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Western Digital in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Trading Down 3.1 %

WDC stock opened at $40.62 on Friday. The company has a market capitalization of $14.13 billion, a price-to-earnings ratio of 9.67 and a beta of 1.42. The business has a 50 day simple moving average of $55.69 and a two-hundred day simple moving average of $62.42. Western Digital Co. has a 1-year low of $39.42 and a 1-year high of $81.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26.

Western Digital (NASDAQ:WDC) last announced 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%. Research analysts anticipate that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Bank of America decreased their price objective on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Citigroup raised their target price on Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Wells Fargo & Company cut their price target on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Robert W. Baird reduced their target price on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Finally, Susquehanna dropped 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 investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.21.

Insider Buying and Selling at Western Digital

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

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.