SanDisk SVP Sells $928,125 in Stock (SNDK)
SanDisk (NASDAQ:SNDK) SVP Eric S. Whitaker sold 9,375 shares of SanDisk stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $99.00, for a total value of $928,125.00. Following the completion of the sale, the senior vice president now directly owns 5,441 shares of the company’s stock, valued at approximately $538,659. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of SanDisk (NASDAQ:SNDK) traded up 0.30% on Wednesday, hitting $98.84. The stock had a trading volume of 2,307,028 shares. SanDisk has a one year low of $53.91 and a one year high of $108.77. The stock’s 50-day moving average is $96.28 and its 200-day moving average is $89.00. The company has a market cap of $22.163 billion and a P/E ratio of 20.12. SanDisk also was the target of a large decline in short interest in August. As of August 15th, there was short interest totalling 16,265,604 shares, a decline of 9.3% from the July 31st total of 17,927,150 shares. Currently, 7.2% of the company’s stock are sold short. Based on an average daily trading volume, of 2,790,343 shares, the short-interest ratio is presently 5.8 days.
SanDisk (NASDAQ:SNDK) last released its earnings data on Wednesday, July 16th. The company reported $1.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.39 by $0.02. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company posted $1.21 earnings per share. SanDisk’s revenue was up 10.7% compared to the same quarter last year. Analysts expect that SanDisk will post $5.91 EPS for the current fiscal year.
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 Thursday, August 14th. They now have a $98.00 price target on the stock. Separately, analysts at Wedbush reiterated an “outperform” rating on shares of SanDisk in a research note on Thursday, July 17th. They now have a $105.00 price target on the stock, down previously from $115.00. Finally, analysts at Susquehanna raised their price target on shares of SanDisk from $110.00 to $120.00 in a research note on Thursday, July 17th. They now have a “positive” rating on the stock. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $105.03.
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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