Skandinaviska Enskilda Banken AB publ Purchases Shares of 20,746 Sandisk Corporation $SNDK

Skandinaviska Enskilda Banken AB publ acquired a new position in Sandisk Corporation (NASDAQ:SNDK) in the third quarter, HoldingsChannel reports. The firm acquired 20,746 shares of the data storage provider’s stock, valued at approximately $2,328,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SNDK. Vanguard Group Inc. bought a new stake in Sandisk in the third quarter worth $1,970,388,000. Parnassus Investments LLC purchased a new position in shares of Sandisk in the third quarter worth about $103,815,000. Principal Financial Group Inc. purchased a new stake in Sandisk during the 3rd quarter valued at about $74,265,000. Public Sector Pension Investment Board bought a new position in Sandisk during the 3rd quarter worth approximately $60,415,000. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Sandisk in the third quarter worth $45,206,000.

Sandisk Trading Up 4.6%

NASDAQ:SNDK opened at $649.97 on Friday. The firm has a market capitalization of $95.94 billion and a P/E ratio of -85.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92. Sandisk Corporation has a one year low of $27.89 and a one year high of $725.00. The company’s 50-day simple moving average is $427.09 and its 200 day simple moving average is $239.43.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.67 billion. The company’s quarterly revenue was up 61.2% compared to the same quarter last year.

Analysts Set New Price Targets

Several research firms have weighed in on SNDK. The Goldman Sachs Group increased their price objective on Sandisk from $320.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Susquehanna lifted their target price on shares of Sandisk from $250.00 to $300.00 and gave the company a “positive” rating in a research note on Monday, December 8th. Zacks Research downgraded shares of Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Bank of America lifted their price objective on Sandisk from $300.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company upped their target price on Sandisk from $230.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $542.85.

Insider Transactions at Sandisk

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of Sandisk stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total transaction of $248,022.94. Following the completion of the transaction, the director owned 3,479 shares in the company, valued at approximately $678,892.06. The trade was a 26.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

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.