ProShare Advisors LLC Purchases New Position in Sandisk Corporation $SNDK

ProShare Advisors LLC acquired a new position in shares of Sandisk Corporation (NASDAQ:SNDK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,400 shares of the data storage provider’s stock, valued at approximately $269,000.

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

Insider Activity

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

Analysts Set New Price Targets

SNDK has been the topic of a number of research analyst reports. Wall Street Zen raised Sandisk from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Mizuho set a $600.00 target price on Sandisk in a research note on Tuesday, January 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sandisk in a research note on Monday, December 29th. Barclays upped their price target on shares of Sandisk from $385.00 to $750.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Finally, Jefferies Financial Group raised their price objective on shares of Sandisk from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, January 30th. 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $542.85.

Sandisk Price Performance

NASDAQ SNDK opened at $649.97 on Monday. The firm’s 50 day moving average is $427.09 and its 200-day moving average is $240.82. The company has a quick ratio of 1.92, a current ratio of 3.11 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $95.94 billion and a PE ratio of -85.64. Sandisk Corporation has a 12-month low of $27.89 and a 12-month high of $725.00.

Sandisk (NASDAQ:SNDK) last released 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 business’s revenue for the quarter was up 61.2% on a year-over-year basis.

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.