Black Swift Group LLC Takes Position in Sandisk Corporation $SNDK

Key Points

• Black Swift Group LLC established a new stake in Sandisk by buying 35,000 shares in Q3, valued at about $3.93 million.
• Sandisk reported a blowout quarter with EPS $6.20 versus the $3.31 consensus and revenue of $3.03 billion (up 61.2% year‑over‑year), beating estimates on both metrics.
• Shares opened at $527.33 and were down about 6.8%; the company has a market cap of $77.8 billion and an average analyst rating of "Moderate Buy" with a consensus price target of $542.85 (individual targets range as high as $1,000).

Black Swift Group LLC bought a new stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 35,000 shares of the data storage provider's stock, valued at approximately $3,927,000.

Several other large investors also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Sandisk in the 3rd quarter valued at about $27,000. CVA Family Office LLC acquired a new stake in Sandisk in the third quarter valued at approximately $28,000. Covestor Ltd acquired a new stake in Sandisk in the third quarter valued at approximately $37,000. Cromwell Holdings LLC purchased a new position in Sandisk in the third quarter worth approximately $39,000. Finally, True Wealth Design LLC acquired a new position in Sandisk during the 3rd quarter worth approximately $40,000.

Sandisk Trading Down 6.8%

NASDAQ SNDK opened at $527.33 on Friday. The firm's fifty day moving average price is $502.89 and its 200 day moving average price is $279.00. Sandisk Corporation has a 12 month low of $27.89 and a 12 month 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 company has a market capitalization of $77.83 billion and a price-to-earnings ratio of -69.48.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The data storage provider reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $2.89. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.67 billion. The business's quarterly revenue was up 61.2% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Zacks Research raised shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 20th. Wells Fargo & Company increased their target price on Sandisk from $230.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, January 15th. UBS Group set a $1,000.00 price target on Sandisk in a research note on Monday, February 2nd. Mizuho set a $600.00 price objective on Sandisk in a research report on Tuesday, January 27th. Finally, Susquehanna increased their price objective on Sandisk from $250.00 to $300.00 and gave the company a "positive" rating in a report on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $542.85.

Insider Transactions at Sandisk

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of Sandisk stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the transaction, the director owned 9,907 shares of the company's stock, valued at $6,216,939.71. The trade was a 26.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.

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.

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