TIAA Trust National Association Takes $306,000 Position in Sandisk Corporation $SNDK

TIAA Trust National Association acquired a new position in Sandisk Corporation (NASDAQ:SNDK) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,724 shares of the data storage provider’s stock, valued at approximately $306,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Osaic Holdings Inc. purchased a new stake in Sandisk in the second quarter valued at $317,000. Corient Private Wealth LLC acquired a new position in shares of Sandisk in the 2nd quarter valued at about $353,000. Praxis Investment Management Inc. purchased a new stake in shares of Sandisk in the third quarter worth about $533,000. GAMMA Investing LLC acquired a new stake in Sandisk during the third quarter worth about $439,000. Finally, Voya Investment Management LLC acquired a new stake in Sandisk during the third quarter worth about $8,917,000.

Insider Activity

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of Sandisk stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the transaction, the director directly owned 9,907 shares of the company’s stock, valued at $6,216,939.71. The trade was a 26.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Necip Sayiner sold 1,271 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total transaction of $248,022.94. Following the completion of the sale, the director directly owned 3,479 shares of the company’s stock, valued at approximately $678,892.06. This trade represents a 26.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SNDK shares. Weiss Ratings restated a “sell (d+)” rating on shares of Sandisk in a research report on Monday, December 29th. China Renaissance started coverage on shares of Sandisk in a research note on Friday, December 5th. They issued a “buy” rating and a $322.00 target price for the company. Bank of America increased their price target on shares of Sandisk from $300.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Sanford C. Bernstein lifted their price objective on shares of Sandisk from $300.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. Finally, Barclays upped their price objective on shares of Sandisk from $385.00 to $750.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $542.85.

Sandisk Stock Performance

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 stock’s 50 day simple moving average is $477.65 and its 200-day simple moving average is $266.03. The company has a market cap of $91.38 billion and a PE ratio of -81.57. Sandisk Corporation has a 1-year low of $27.89 and a 1-year high of $725.00.

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

Sandisk 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.