Supplemental Annuity Collective Trust of NJ Takes Position in Sandisk Corporation $SNDK

Supplemental Annuity Collective Trust of NJ bought a new position in shares of Sandisk Corporation (NASDAQ:SNDK) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,466 shares of the data storage provider’s stock, valued at approximately $389,000.

A number of other large investors also recently modified their holdings of SNDK. Vanguard Group Inc. bought a new stake in Sandisk during the 3rd quarter valued at $1,970,388,000. Parnassus Investments LLC bought a new position in shares of Sandisk in the third quarter valued at $103,815,000. Principal Financial Group Inc. acquired a new position in shares of Sandisk during the third quarter valued at about $74,265,000. Public Sector Pension Investment Board bought a new stake in shares of Sandisk during the third quarter worth about $60,415,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Sandisk in the 3rd quarter worth about $45,206,000.

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 completion of the sale, the director directly owned 3,479 shares of the company’s stock, 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 SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

SNDK has been the subject of a number of analyst reports. Fox Advisors upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. assumed coverage on Sandisk in a report on Monday, December 8th. They issued a “neutral” rating and a $235.00 target price on the stock. Morgan Stanley set a $690.00 price target on Sandisk in a report on Friday, January 30th. Raymond James Financial upgraded Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 price objective on the stock in a research note on Friday, January 30th. Finally, The Goldman Sachs Group lifted their price objective on shares of Sandisk from $320.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Sandisk presently has an average rating of “Moderate Buy” and an average target price of $542.85.

Sandisk Price Performance

SNDK opened at $626.56 on Tuesday. Sandisk Corporation has a fifty-two week low of $27.89 and a fifty-two week high of $725.00. The firm has a 50-day moving average of $395.85 and a 200 day moving average of $224.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 3.11. The firm has a market cap of $92.46 billion and a P/E ratio of -82.55.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, topping the consensus estimate of $3.31 by $2.89. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.67 billion. The business’s quarterly revenue was up 61.2% on a year-over-year basis.

About Sandisk

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.