41,200 Shares in Western Digital Co. (NASDAQ:WDC) Acquired by One68 Global Capital LLC

One68 Global Capital LLC bought a new stake in Western Digital Co. (NASDAQ:WDC) in the 4th quarter, HoldingsChannel reports. The fund bought 41,200 shares of the data storage provider’s stock, valued at approximately $2,457,000. Western Digital comprises approximately 1.3% of One68 Global Capital LLC’s portfolio, making the stock its 18th biggest position.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Western Digital by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider’s stock worth $2,531,876,000 after purchasing an additional 1,439,149 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Western Digital by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 8,745,264 shares of the data storage provider’s stock worth $520,450,000 after acquiring an additional 823,656 shares in the last quarter. Norges Bank acquired a new stake in Western Digital in the fourth quarter worth about $352,572,000. Northern Trust Corp grew its stake in shares of Western Digital by 16.4% during the fourth quarter. Northern Trust Corp now owns 3,397,671 shares of the data storage provider’s stock worth $202,603,000 after acquiring an additional 478,269 shares during the last quarter. Finally, Parnassus Investments LLC increased its holdings in shares of Western Digital by 24.5% during the fourth quarter. Parnassus Investments LLC now owns 2,980,047 shares of the data storage provider’s stock valued at $177,700,000 after acquiring an additional 586,924 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Gene M. Zamiska sold 1,659 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction 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 $1,810,575.36. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on WDC shares. The Goldman Sachs Group boosted their target price on shares of Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Susquehanna dropped their price objective on shares of Western Digital from $72.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Wedbush restated an “underperform” rating on shares of Western Digital in a research note on Friday, April 11th. Citigroup dropped their price target on Western Digital from $64.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley assumed coverage on Western Digital in a research note on Wednesday, April 16th. They issued an “overweight” rating and a $46.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.39.

Western Digital Stock Down 0.7 %

Shares of WDC opened at $40.62 on Wednesday. Western Digital Co. has a 52-week low of $28.83 and a 52-week high of $81.55. The company has a market capitalization of $14.13 billion, a PE ratio of 9.67 and a beta of 1.39. The stock has a fifty day simple moving average of $41.14 and a two-hundred day simple moving average of $57.53. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60.

Western Digital 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.