Insider Selling: Sanjay Mehrotra Sells 45,000 Shares of SanDisk Corp. Stock (SNDK)
SanDisk Corp. (NASDAQ:SNDK) CEO Sanjay Mehrotra unloaded 45,000 shares of the stock on the open market in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $61.07, for a total value of $2,748,150.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
SanDisk Corp. (NASDAQ:SNDK) traded up 1.27% on Thursday, hitting $62.26. 2,772,096 shares of the company’s stock traded hands. SanDisk Corp. has a 52-week low of $38.47 and a 52-week high of $63.97. The stock’s 50-day moving average is $59.26 and its 200-day moving average is $58.02. The company has a market cap of $14.967 billion and a price-to-earnings ratio of 21.03.
SanDisk Corp. (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $1.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.93 by $0.28. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company posted $0.21 earnings per share. SanDisk Corp.’s revenue was up 43.0% compared to the same quarter last year. Analysts expect that SanDisk Corp. will post $4.78 EPS for the current fiscal year.
A number of research firms have recently commented on SNDK. Analysts at Cowen and Company raised their price target on shares of SanDisk Corp. from $60.00 to $64.00 in a research note to investors on Monday. They now have a “market perform” rating on the stock. Separately, analysts at B. Riley raised their price target on shares of SanDisk Corp. to $75.00 in a research note to investors on Friday, October 4th. They now have a “buy” rating on the stock. Finally, analysts at Argus reiterated a “buy” rating on shares of SanDisk Corp. in a research note to investors on Thursday, October 3rd. They now have a $70.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.93.
SanDisk Corporation designs, develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies.
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