ProShare Advisors LLC Buys New Shares in Sandisk Corporation $SNDK

ProShare Advisors LLC bought a new position in shares of Sandisk Corporation (NASDAQ:SNDK) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,400 shares of the data storage provider’s stock, valued at approximately $269,000.

A number of other large investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in shares of Sandisk during the 3rd quarter worth about $28,000. Covestor Ltd acquired a new position in Sandisk during the third quarter worth approximately $37,000. Cromwell Holdings LLC acquired a new position in Sandisk during the third quarter worth approximately $39,000. True Wealth Design LLC bought a new stake in Sandisk in the third quarter valued at approximately $40,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sandisk in the third quarter valued at approximately $41,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on SNDK. Cantor Fitzgerald boosted their target price on Sandisk from $550.00 to $800.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. UBS Group set a $1,000.00 price objective on shares of Sandisk in a research report on Monday, February 2nd. JPMorgan Chase & Co. started coverage on shares of Sandisk in a report on Monday, December 8th. They issued a “neutral” rating and a $235.00 price objective on the stock. Zacks Research cut shares of Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group upped their price target on shares of Sandisk from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $542.85.

Insider Buying and Selling at Sandisk

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 stock was sold at an average price of $195.14, for a total value of $248,022.94. Following the completion of the sale, the director directly owned 3,479 shares in the company, valued at approximately $678,892.06. The trade was a 26.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

Sandisk Trading Up 4.6%

Shares of Sandisk stock opened at $649.97 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 3.11. The firm has a 50-day moving average of $427.09 and a 200-day moving average of $240.82. Sandisk Corporation has a 52-week low of $27.89 and a 52-week high of $725.00. The stock has a market cap of $95.94 billion and a PE ratio of -85.64.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $2.89. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.67 billion. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. Sandisk’s quarterly revenue was up 61.2% on a year-over-year basis.

Sandisk Company 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.