Chevy Chase Trust Holdings LLC Sells 1,273 Shares of Western Digital Co. (NASDAQ:WDC)

Chevy Chase Trust Holdings LLC trimmed its holdings in Western Digital Co. (NASDAQ:WDC) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,275 shares of the data storage provider’s stock after selling 1,273 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Western Digital worth $13,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of WDC. Carnegie Investment Counsel raised its stake in Western Digital by 25.1% during the second quarter. Carnegie Investment Counsel now owns 4,990 shares of the data storage provider’s stock valued at $378,000 after buying an additional 1,000 shares during the last quarter. First Horizon Advisors Inc. raised its position in Western Digital by 24.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,780 shares of the data storage provider’s stock worth $211,000 after buying an additional 550 shares during the last quarter. Chapin Davis Inc. purchased a new stake in shares of Western Digital during the 2nd quarter valued at about $3,441,000. OFI Invest Asset Management bought a new stake in shares of Western Digital in the second quarter worth approximately $34,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Western Digital by 8.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 892,338 shares of the data storage provider’s stock valued at $67,612,000 after purchasing an additional 70,057 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Western Digital

In other Western Digital news, EVP Robert Soderbery sold 12,154 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $57.09, for a total transaction of $693,871.86. Following the transaction, the executive vice president now owns 128,413 shares of the company’s stock, valued at approximately $7,331,098.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 39,226 shares of company stock worth $2,684,112 in the last 90 days. 0.28% of the stock is owned by corporate insiders.

Western Digital Stock Down 0.1 %

Shares of NASDAQ:WDC traded down $0.05 during midday trading on Wednesday, hitting $64.37. 1,974,821 shares of the company’s stock traded hands, compared to its average volume of 6,548,247. The firm’s fifty day moving average price is $71.10 and its two-hundred day moving average price is $68.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.83 and a current ratio of 1.41. Western Digital Co. has a twelve month low of $35.62 and a twelve month high of $81.55. The company has a market cap of $21.02 billion, a PE ratio of -12.95 and a beta of 1.37.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup boosted their target price on shares of Western Digital from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Wedbush raised their price objective on shares of Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Mizuho lifted their price objective on Western Digital from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Benchmark increased their target price on shares of Western Digital from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.18.

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.