Transatlantique Private Wealth LLC Buys New Stake in Sandisk Corporation $SNDK

Transatlantique Private Wealth LLC purchased a new position in shares of Sandisk Corporation (NASDAQ:SNDK) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,766 shares of the data storage provider’s stock, valued at approximately $423,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new position in shares of Sandisk in the 3rd quarter worth approximately $1,970,388,000. Parnassus Investments LLC acquired a new position in Sandisk during the third quarter worth $103,815,000. Principal Financial Group Inc. bought a new position in shares of Sandisk during the third quarter valued at $74,265,000. Public Sector Pension Investment Board acquired a new stake in shares of Sandisk in the 3rd quarter valued at $60,415,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Sandisk in the 3rd quarter worth about $45,206,000.

Sandisk Stock Performance

SNDK stock opened at $666.49 on Tuesday. The company has a 50 day moving average price of $436.39 and a 200 day moving average price of $245.22. 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 current ratio of 3.11 and a quick ratio of 1.92. The stock has a market capitalization of $98.37 billion and a PE ratio of -87.81.

Sandisk (NASDAQ:SNDK) last released its earnings results on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.67 billion. The firm’s revenue for the quarter was up 61.2% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SNDK shares. Barclays lifted 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. The Goldman Sachs Group lifted their target price on shares of Sandisk from $320.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Zacks Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday. Fox Advisors raised Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, JPMorgan Chase & Co. started coverage on Sandisk in a research note on Monday, December 8th. They issued a “neutral” rating and a $235.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $542.85.

Insiders Place Their Bets

In related news, Director Necip Sayiner sold 1,271 shares of the business’s stock in a transaction that occurred 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 directly owned 3,479 shares of the company’s stock, valued at $678,892.06. The trade was a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate 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.