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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Mike Buckley who wrote (24583)	1/22/2004 2:23:56 AM
From: GraceZ	Read Replies (3) \| Respond to of 60323

During a parallel discussion on a Motley Fool forum of institutional ownership, one of the participants stated that shares borrowed by institutions for the purpose of shorting are also reported as "owned." If that's true, double counting is taking place. I've never heard that it is or isn't the case, but that would explain why institutional ownership could be reported close to 100%. No, there is no double counting. If you go through the institutional report on Nasdaq site you can see where every one of those shares was located at the time of the last report, which was Sept 30, 2003. It shows 80 million outstanding (Yahoo figures are old) with 91.4% institutional or 72,694,055. If you go through all 16 pages and count up the shares, you will see every share accounted for in the report. These are taken from the reports that various funds are required to file quarterly and they only include shares held long. nasdaq.com The 3% insider and 92% institutional leaves around 5% for the public which doesn't seem like a lot until you realize it is 4 million shares or $276 million dollars worth using the price at the close of 69. Remember that these were figures from September 30 and it would not be unreasonable to expect that the institutions would have been distributing into public buying on the ride up to 80. It'll show up in the next report which is due out for the quarter ending December 31, any day now. Also, you have to think some of that institutional ownership is a bit of quarter end window dressing as well since SNDK was such a terrific performer last year.