Public Employees Retirement Association of Colorado Reduces Holdings in Western Digital Co. (NASDAQ:WDC)

Public Employees Retirement Association of Colorado lowered its position in Western Digital Co. (NASDAQ:WDC) by 6.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 35,830 shares of the data storage provider’s stock after selling 2,528 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Western Digital were worth $2,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Western Digital in the 1st quarter worth approximately $25,000. Naples Money Management LLC purchased a new stake in shares of Western Digital during the fourth quarter worth $26,000. Fidelis Capital Partners LLC bought a new position in shares of Western Digital in the first quarter worth $30,000. SOA Wealth Advisors LLC. purchased a new position in shares of Western Digital in the first quarter valued at $31,000. Finally, Lindbrook Capital LLC raised its stake in shares of Western Digital by 121.7% during the 4th quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock valued at $32,000 after purchasing an additional 337 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on WDC shares. Wells Fargo & Company lifted their target price on Western Digital from $72.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Susquehanna increased their target price on shares of Western Digital from $80.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 11th. Robert W. Baird boosted their price target on shares of Western Digital from $65.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a research report on Tuesday, June 11th. Finally, Benchmark raised Western Digital from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.96.

Insider Buying and Selling at Western Digital

In other news, EVP Robert Soderbery sold 26,853 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $73.48, for a total value of $1,973,158.44. Following the completion of the transaction, the executive vice president now owns 144,623 shares in the company, valued at approximately $10,626,898.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Western Digital news, EVP Robert Soderbery sold 26,853 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total value of $1,973,158.44. Following the sale, the executive vice president now owns 144,623 shares in the company, valued at $10,626,898.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Gene M. Zamiska sold 416 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total transaction of $29,902.08. Following the transaction, the senior vice president now directly owns 30,321 shares of the company’s stock, valued at approximately $2,179,473.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,488 shares of company stock valued at $2,020,143. 0.28% of the stock is currently owned by corporate insiders.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $66.43 on Tuesday. Western Digital Co. has a 1 year low of $35.62 and a 1 year high of $81.55. The stock has a market capitalization of $21.69 billion, a P/E ratio of -13.37 and a beta of 1.37. The company’s 50-day moving average is $75.65 and its 200 day moving average is $67.96. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.07.

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.