GSA Capital Partners LLP Acquires New Position in Sandisk Corporation $SNDK

GSA Capital Partners LLP bought a new position in Sandisk Corporation (NASDAQ:SNDK) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 6,981 shares of the data storage provider’s stock, valued at approximately $783,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNDK. Rothschild Investment LLC purchased a new stake in shares of Sandisk during the third quarter valued at approximately $267,000. Skandinaviska Enskilda Banken AB publ bought a new position in Sandisk in the 3rd quarter valued at approximately $2,328,000. Vanguard Group Inc. bought a new position in Sandisk in the 3rd quarter valued at approximately $1,970,388,000. Fifth Third Bancorp purchased a new stake in Sandisk during the 3rd quarter valued at $208,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Sandisk in the 3rd quarter worth $819,000.

Insider Buying and Selling at Sandisk

In other news, Director Necip Sayiner sold 1,271 shares of the business’s stock in a transaction 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 owned 3,479 shares of the company’s stock, valued at $678,892.06. The trade was a 26.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Sandisk Price Performance

NASDAQ SNDK opened at $649.97 on Friday. The company has a 50-day moving average price of $427.09 and a 200-day moving average price of $239.43. Sandisk Corporation has a 52 week low of $27.89 and a 52 week high of $725.00. 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 firm has a market capitalization of $95.94 billion and a P/E ratio of -85.64.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, January 29th. The data storage provider reported $6.20 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.67 billion. The company’s revenue was up 61.2% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNDK. Wall Street Zen raised Sandisk from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $650.00 target price on shares of Sandisk in a research report on Friday, January 30th. Raymond James Financial raised shares of Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 price target on the stock in a report on Friday, January 30th. Zacks Research cut shares of Sandisk from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group increased their price objective on shares of Sandisk from $320.00 to $700.00 and gave the company a “buy” rating in a research 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 issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $542.85.

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.