Gotham Asset Management LLC Purchases Shares of 285,049 Sandisk Corporation $SNDK

Key Points

• Gotham Asset Management LLC bought a new stake of 285,049 shares of Sandisk (~$31,982,000), representing about 0.19% of the company.
• Sandisk beat estimates with EPS $6.20 (vs. $3.31 expected) and revenue of $3.03 billion, up 61.2% year-over-year, though the company still reported a negative net margin (-11.66%).
• Analysts raised targets and views recently — Goldman Sachs lifted its target to $700 with a Buy rating and Barclays to $750 (Equal Weight); the consensus is a "Moderate Buy" with an average target of $542.85.

Gotham Asset Management LLC purchased a new stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 285,049 shares of the data storage provider's stock, valued at approximately $31,982,000. Gotham Asset Management LLC owned 0.19% of Sandisk as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Sandisk in the 3rd quarter worth $27,000. CVA Family Office LLC acquired a new stake in shares of Sandisk in the 3rd quarter valued at about $28,000. Parallel Advisors LLC bought a new stake in shares of Sandisk in the third quarter valued at about $30,000. Covestor Ltd acquired a new position in shares of Sandisk during the third quarter worth about $37,000. Finally, Cromwell Holdings LLC acquired a new position in shares of Sandisk during the third quarter worth about $39,000.

Insider Buying and Selling at Sandisk

In related news, Director Miyuki Suzuki sold 3,500 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the transaction, the director directly owned 9,907 shares in the company, valued at approximately $6,216,939.71. The trade was a 26.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SNDK. Mizuho set a $600.00 target price on Sandisk in a research report on Tuesday, January 27th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Sandisk in a research report on Monday, December 29th. The Goldman Sachs Group raised their price target on shares of Sandisk from $320.00 to $700.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Barclays lifted their price objective on shares of Sandisk from $385.00 to $750.00 and gave the company an "equal weight" rating in a report on Monday, February 2nd. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $650.00 target price on shares of Sandisk in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $542.85.

Sandisk Stock Performance

SNDK opened at $703.63 on Tuesday. The business's 50-day simple moving average is $549.66 and its 200 day simple moving average is $305.78. Sandisk Corporation has a 52-week low of $27.89 and a 52-week high of $725.00. 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 market capitalization of $103.86 billion and a PE ratio of -92.70.

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

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