Xponance Inc. Invests $845,000 in Sandisk Corporation $SNDK

Xponance Inc. bought a new stake in Sandisk Corporation (NASDAQ:SNDK) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,533 shares of the data storage provider’s stock, valued at approximately $845,000.

Several other large investors also recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC bought a new position in Sandisk during the third quarter valued at $1,136,000. New York State Teachers Retirement System purchased a new stake in shares of Sandisk during the 3rd quarter valued at about $13,546,000. Sage Rhino Capital LLC purchased a new stake in shares of Sandisk during the 3rd quarter valued at about $587,000. Y Intercept Hong Kong Ltd bought a new position in shares of Sandisk in the 3rd quarter valued at about $7,046,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in Sandisk in the third quarter worth about $514,000.

Sandisk Stock Performance

Sandisk stock opened at $599.06 on Thursday. 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 company has a market capitalization of $88.42 billion and a PE ratio of -78.93. The company has a 50 day moving average price of $491.04 and a 200-day moving average price of $271.99. Sandisk Corporation has a fifty-two week low of $27.89 and a fifty-two week high of $725.00.

Sandisk (NASDAQ:SNDK) last released 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 positive return on equity of 10.11% and a negative net margin of 11.66%.The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.67 billion. The firm’s revenue was up 61.2% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Sandisk from $320.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, January 30th. UBS Group set a $1,000.00 price objective on shares of Sandisk in a research note on Monday, February 2nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $650.00 target price on shares of Sandisk in a report on Friday, January 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sandisk in a report on Monday, December 29th. Finally, Morgan Stanley set a $690.00 target price on Sandisk in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $542.85.

Insiders Place Their Bets

In other news, Director Miyuki Suzuki sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the sale, the director owned 9,907 shares of the company’s stock, valued at approximately $6,216,939.71. This represents a 26.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is currently owned by company insiders.

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.