Supplemental Annuity Collective Trust of NJ Makes New $389,000 Investment in Sandisk Corporation $SNDK

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

Other hedge funds also recently modified their holdings of the company. CVA Family Office LLC acquired a new position in Sandisk in the 3rd quarter worth about $28,000. Covestor Ltd bought a new stake in shares of Sandisk during the third quarter worth about $37,000. Cromwell Holdings LLC acquired a new position in shares of Sandisk in the third quarter valued at approximately $39,000. True Wealth Design LLC acquired a new stake in Sandisk during the 3rd quarter worth approximately $40,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Sandisk during the 3rd quarter worth approximately $41,000.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNDK. Wedbush upped their price target on shares of Sandisk from $600.00 to $740.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. The Goldman Sachs Group increased their price objective on Sandisk from $320.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 30th. Zacks Research lowered Sandisk from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Raymond James Financial upgraded Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 price target on the stock in a research report on Friday, January 30th. Finally, UBS Group set a $1,000.00 price target on Sandisk in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $542.85.

Sandisk Trading Down 0.6%

Shares of SNDK stock 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 company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 3.11. The stock has a 50 day simple moving average of $395.85 and a two-hundred day simple moving average of $224.67. The company 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. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.67 billion. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. The company’s revenue for the quarter was up 61.2% on a year-over-year basis.

Insider Buying and Selling

In other news, Director Necip Sayiner sold 1,271 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total transaction of $248,022.94. Following the transaction, the director owned 3,479 shares in the company, valued at approximately $678,892.06. This represents a 26.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.21% of the company’s stock.

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.