Boston, MA 10/18/2013 (wallstreetpr) – The actions by insiders on any stock carry a lot of meaning for the outside investors. This is why when SanDisk Corporation (NASDAQ:SNDK) was reported to have made some sales of the company’s stocks he is holding, investors have sought to find out why?
It can be as obvious that the CEO Sanjay Mehrotra just wanted to convert stocks in his possession to liquid cash, or there might be more than meets the eye. But if analysts sentiments on the stock of lately are anything to go by, there is shouldn’t any reading of so much in Mehrotra’s sale of SNDK stocks he owns.
Of course, reports indicate that in a transaction on October 6, the CEO unloaded 45K shares of SNDK at $61.07 per share to take home about $2.7 million. Then again on October 17, Mehrotra unloaded his holdings to bag around $3.3 million at $65 per share.
These “sell” transactions come at a time when SNDK has continued to gain much transaction on the product market and in the stock exchange platform. Analysts have not minced their words in recommending this stock for investors looking for some really fat fortune in this tech company.
SNDK’s innovative products are services have gotten hold of the market and its potentials are still great to power it to greater heights. This stock has turned to be what the investors have lacked in most technology stocks these days. The good thing with SNDK rally is that it’s not pegged on some quick sand. In fact, the future looks brighter for this company as it continues to exceed expectations placed on it.
Equity researchers are expecting this company to hit $68.93 on share value in this year. SNDK now carries a consensus “buy” rating, indicating it is one stock that stands the best ground to lead to a massive profit for investors who jump on the opportunity early enough.