Sandisk (NASDAQ:SNDK) Shares Down 4.5% Following Insider Selling

Shares of Sandisk Corporation (NASDAQ:SNDK) fell 4.5% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $1,362.00 and last traded at $1,382.72. 11,065,285 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 18,419,637 shares. The stock had previously closed at $1,447.23.

Specifically, CAO Michael Pokorny sold 2,446 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the sale, the chief accounting officer owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Necip Sayiner sold 579 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the sale, the director directly owned 2,900 shares of the company’s stock, valued at $4,359,019. This represents a 16.64% decrease in their position. The disclosure for this sale is available in the SEC filing.

Wall Street Analysts Forecast Growth

SNDK has been the topic of several research analyst reports. Royal Bank Of Canada boosted their price objective on Sandisk from $650.00 to $1,000.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. UBS Group set a $1,700.00 price objective on Sandisk in a research report on Monday, May 4th. Barclays boosted their price objective on Sandisk from $750.00 to $1,200.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Bank of America boosted their price objective on Sandisk from $900.00 to $1,080.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Finally, Citigroup boosted their price objective on Sandisk from $980.00 to $1,300.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,065.81.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk is being viewed as a key beneficiary of the AI infrastructure trade, with strong enterprise SSD and datacenter demand supporting the bull case. Sandisk Rides on Strong Datacenter Revenues: More Upside Ahead?
• Positive Sentiment: Commentary continues to highlight the strength of the memory rally and argue that Sandisk’s stock could still have room to rise, reinforcing momentum sentiment. Sandisk Price Prediction: Has the Rally Gone Too Far?
• Positive Sentiment: Recent market chatter says S&P upgraded Sandisk after it repaid all debt, built a $3.7 billion cash pile, and authorized a $6 billion buyback plan, all of which support the stock. What's Going On With Sandisk Stock Thursday?
• Positive Sentiment: Analysts have continued lifting price targets, showing confidence in Sandisk’s earnings power and growth outlook. SanDisk (SNDK) price target increased by 44.34% to 1,248.91
• Neutral Sentiment: Sandisk said it is rejecting an unsolicited “mini-tender” offer from Tutanota LLC, which appears immaterial to operations but underscores how much attention the stock has drawn after its sharp run-up. Sandisk Recommends Stockholders Reject “Mini-Tender” Offer by Tutanota LLC
• Neutral Sentiment: An insider sale by the chief accounting officer was disclosed, but it looks more routine than alarming and does not change the fundamental outlook. Top SanDisk Executive Makes Major Move With Insider Stock Sale
• Negative Sentiment: Some recent commentary warns the rally may be stretched, leaving Sandisk vulnerable to volatility if sentiment cools or investors start taking profits.

Sandisk Price Performance

The company has a market capitalization of $208.45 billion, a PE ratio of 48.93 and a beta of 4.82. The business has a 50-day moving average of $899.12 and a 200 day moving average of $553.06.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. The company had revenue of $5.95 billion for the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.Sandisk’s quarterly revenue was up 251.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, research analysts anticipate that Sandisk Corporation will post 63.93 EPS for the current year.

Institutional Investors Weigh In On Sandisk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IMG Wealth Management Inc. purchased a new stake in Sandisk during the first quarter valued at approximately $29,000. Quantinno Capital Management LP raised its position in Sandisk by 38.3% during the first quarter. Quantinno Capital Management LP now owns 66,953 shares of the data storage provider’s stock valued at $42,538,000 after purchasing an additional 18,553 shares during the period. Southpoint Capital Advisors LP purchased a new stake in Sandisk during the first quarter valued at approximately $38,120,000. SummitTX Capital L.P. purchased a new stake in Sandisk during the first quarter valued at approximately $8,102,000. Finally, Lazard Asset Management LLC raised its position in Sandisk by 3.1% during the first quarter. Lazard Asset Management LLC now owns 16,917 shares of the data storage provider’s stock valued at $10,748,000 after purchasing an additional 511 shares during the period.

About Sandisk

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.