2,724 Shares in Sandisk Corporation $SNDK Acquired by TIAA Trust National Association

TIAA Trust National Association bought a new stake in Sandisk Corporation (NASDAQ:SNDK) during the third quarter, Holdings Channel.com reports. The firm bought 2,724 shares of the data storage provider’s stock, valued at approximately $306,000.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. purchased a new stake in Sandisk in the 3rd quarter valued at about $1,970,388,000. Parnassus Investments LLC acquired a new stake in shares of Sandisk during the third quarter valued at about $103,815,000. DNB Asset Management AS purchased a new stake in shares of Sandisk in the 3rd quarter valued at approximately $94,540,000. Principal Financial Group Inc. acquired a new position in shares of Sandisk in the 3rd quarter worth approximately $74,265,000. Finally, Public Sector Pension Investment Board purchased a new position in shares of Sandisk during the 3rd quarter worth approximately $60,415,000.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $650.00 target price on shares of Sandisk in a report on Friday, January 30th. Benchmark lifted their price objective on Sandisk from $260.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Raymond James Financial raised Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 target price on the stock in a research note on Friday, January 30th. Wedbush raised their target price on Sandisk from $600.00 to $740.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Finally, Wells Fargo & Company boosted their price target on shares of Sandisk from $230.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sandisk presently has a consensus rating of “Moderate Buy” and a consensus price target of $542.85.

Insiders Place Their Bets

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total value of $248,022.94. Following the sale, the director directly owned 3,479 shares in the company, valued at $678,892.06. This trade represents a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Miyuki Suzuki sold 3,500 shares of Sandisk stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total value of $2,196,355.00. Following the sale, the director directly owned 9,907 shares of the company’s stock, valued at $6,216,939.71. This trade represents a 26.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.

Sandisk Price Performance

Shares of NASDAQ SNDK opened at $619.08 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92. The company has a market cap of $91.38 billion and a price-to-earnings ratio of -81.57. The stock’s 50-day moving average is $477.65 and its two-hundred day moving average is $266.03. Sandisk Corporation has a 1-year low of $27.89 and a 1-year high of $725.00.

Sandisk (NASDAQ:SNDK) last released its earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $2.89. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.67 billion. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. The firm’s revenue was up 61.2% compared to the same quarter last year.

Sandisk Company Profile

SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.