Sandisk (NASDAQ:SNDK – Get Free Report) announced that its board has initiated a stock repurchase plan on Wednesday, August 5th, RTT News reports. Sandisk Stock PerformanceShares of NASDAQ:SNDK traded down $77.12 during trading on Wednesday, reaching $1,350.50. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,811.38. Also, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction dated Tuesday, May 12th. Sandisk Stock Slides Despite Revenue Surge and BuybackSandisk expanded its share-repurchase authorization by $14 billion, potentially providing support for the stock and signaling management’s confidence in future cash generation.