Knollwood Investment Advisory LLC Makes New $640,000 Investment in Sandisk Corporation $SNDK

Key Points

• Knollwood Investment Advisory acquired a new stake of 5,705 shares in Sandisk (NASDAQ:SNDK) during the 3rd quarter, valued at about $640,000.
• Several large institutions also built sizable positions—most notably Vanguard (~$1.97 billion), Arrowstreet (~$297 million), Bank of America (~$190 million), AQR (~$163 million) and Victory Capital (~$120 million)—signaling broad institutional interest.
• Sandisk reported a strong quarter (EPS $6.20 vs. $3.31 est; revenue $3.03B, up 61%) and analysts have lifted price targets, leaving a consensus rating of Moderate Buy with an average target of $542.85.

Knollwood Investment Advisory LLC acquired a new stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,705 shares of the data storage provider's stock, valued at approximately $640,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. acquired a new position in shares of Sandisk during the 3rd quarter worth about $1,970,388,000. Arrowstreet Capital Limited Partnership purchased a new position in Sandisk in the 3rd quarter valued at about $297,293,000. Bank of America Corp DE acquired a new stake in Sandisk in the 3rd quarter worth about $190,425,000. AQR Capital Management LLC acquired a new stake in Sandisk in the 3rd quarter worth about $163,057,000. Finally, Victory Capital Management Inc. purchased a new stake in Sandisk during the 3rd quarter worth approximately $120,363,000.

Insiders Place Their Bets

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of the company's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the sale, the director directly owned 9,907 shares in the company, valued at $6,216,939.71. This represents a 26.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.21% of the company's stock.

Sandisk Trading Up 6.3%

SNDK opened at $703.63 on Tuesday. The firm has a market capitalization of $103.86 billion and a price-to-earnings ratio of -92.70. The company's 50 day simple moving average is $549.66 and its two-hundred day simple moving average is $305.78. Sandisk Corporation has a 1-year low of $27.89 and a 1-year 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.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.31 by $2.89. Sandisk had a positive return on equity of 10.11% and a negative net margin of 11.66%.The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.67 billion. The firm's revenue for the quarter was up 61.2% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Benchmark increased their target price on Sandisk from $260.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, January 15th. Sanford C. Bernstein lifted their price target on Sandisk from $300.00 to $580.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 14th. The Goldman Sachs Group boosted their price target on Sandisk from $320.00 to $700.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. Morgan Stanley set a $690.00 price objective on Sandisk in a research note on Friday, January 30th. Finally, Cantor Fitzgerald raised their price objective on Sandisk from $550.00 to $800.00 and gave the company an "overweight" rating in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $542.85.

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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