Insider Selling: SanDisk Director Unloads 2,500 Shares of Stock (SNDK)
SanDisk (NASDAQ:SNDK) Director Catherine P. Lego unloaded 2,500 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $96.73, for a total value of $241,825.00. Following the completion of the sale, the director now directly owns 4,342 shares in the company, valued at approximately $420,002. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on SNDK. Analysts at Zacks reiterated a “neutral” rating on shares of SanDisk in a research note on Friday, May 30th. They now have a $101.00 price target on the stock. Separately, analysts at Drexel Hamilton raised their price target on shares of SanDisk from $100.00 to $130.00 in a research note on Thursday, May 29th. Finally, analysts at Needham & Company LLC raised their price target on shares of SanDisk from $90.00 to $115.00 in a research note on Wednesday, May 21st. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. SanDisk currently has a consensus rating of “Buy” and an average target price of $95.75.
Shares of SanDisk (NASDAQ:SNDK) traded up 0.32% during mid-day trading on Wednesday, hitting $97.81. The stock had a trading volume of 2,291,141 shares. SanDisk has a 52 week low of $53.09 and a 52 week high of $98.58. The stock has a 50-day moving average of $89.27 and a 200-day moving average of $76.81. The company has a market cap of $22.172 billion and a price-to-earnings ratio of 20.26.
SanDisk (NASDAQ:SNDK) last announced its earnings results on Wednesday, April 16th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.19. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts predict that SanDisk will post $6.06 earnings per share for the current fiscal year.
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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