Southpoint Capital Advisors LP Buys Shares of 60,000 Sandisk Corporation $SNDK

Southpoint Capital Advisors LP bought a new position in Sandisk Corporation (NASDAQ:SNDK) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 60,000 shares of the data storage provider’s stock, valued at approximately $38,120,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its position in shares of Sandisk by 20.7% in the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after buying an additional 904,933 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Sandisk by 44.9% during the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after acquiring an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after acquiring an additional 828,332 shares during the period. Morgan Stanley grew its stake in Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after acquiring an additional 199,545 shares during the period. Finally, Norges Bank bought a new stake in shares of Sandisk in the fourth quarter worth about $518,889,000.

Insider Activity

In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the sale, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bernard Shek sold 600 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the completion of the sale, the insider owned 31,515 shares of the company’s stock, valued at approximately $65,803,320. This represents a 1.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,225 shares of company stock valued at $10,166,297 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Sandisk Stock Down 11.0%

SNDK stock opened at $1,278.23 on Tuesday. The company has a market cap of $189.29 billion, a price-to-earnings ratio of 44.43 and a beta of 4.74. Sandisk Corporation has a twelve month low of $40.10 and a twelve month high of $2,354.39. The business has a 50 day moving average price of $1,752.94 and a two-hundred day moving average price of $1,099.50.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (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%.The company’s revenue for the quarter was up 251.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities research analysts anticipate that Sandisk Corporation will post 64.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. UBS Group set a $1,700.00 target price on shares of Sandisk in a report on Monday, May 4th. Melius Research set a $2,350.00 price target on Sandisk in a research note on Monday, May 18th. Zacks Research lowered Sandisk from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Evercore set a $3,100.00 price objective on Sandisk in a research report on Monday, July 13th. Finally, Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,811.38.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Strong memory demand, constrained supply, and continued AI infrastructure spending remain supportive of SanDisk’s long-term earnings outlook. Analysts expect the company to benefit from the memory boom, while its upcoming August 5 earnings report could provide another catalyst if SanDisk delivers the kind of earnings beats and guidance increases it has posted recently. Micron vs. Sandisk: Which Stock Is the Better Buy for the Memory Boom?
• Positive Sentiment: Research cited in the coverage suggests Chinese manufacturers are advancing in NAND and DRAM but remain behind leading companies in high-bandwidth memory, leaving portions of the AI memory market less immediately exposed. China Is Coming For SanDisk—But Not Yet For Micron’s Memory Crown

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.