Sandisk (NASDAQ:SNDK) Trading Down 11.4% on Insider Selling

Sandisk Corporation (NASDAQ:SNDK) shares fell 11.4% during mid-day trading on Friday following insider selling activity. The company traded as low as $1,514.36 and last traded at $1,559.32. 12,989,804 shares were traded during mid-day trading, a decline of 25% from the average session volume of 17,408,422 shares. The stock had previously closed at $1,759.68.

Specifically, insider Bernard Shek sold 600 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the completion of the transaction, the insider directly owned 32,232 shares of the company’s stock, valued at $55,954,752. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SNDK. Wells Fargo & Company upped their price objective on Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Royal Bank Of Canada upped their price objective on Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Morgan Stanley increased their price target on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Sandisk presently has an average rating of “Moderate Buy” and a consensus target price of $1,398.27.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analyst commentary remains constructive, with reports citing bullish views on Sandisk and Morgan Stanley lifting its price target by 59%, signaling expectations for further upside from AI-driven memory demand. SNDK stock hits record high: Morgan Stanley raises PT by 59%, sees further upside ahead
• Positive Sentiment: Several bullish pieces argue Sandisk’s AI storage opportunity is still early, highlighting strong recent revenue growth, high margins, and a favorable memory-supply backdrop that could support fundamentals. Sandisk’s AI Storage Moment Is Just Getting Started
• Neutral Sentiment: Market commentary notes Sandisk was among the standout semiconductor winners this year, but that outsized rally is also making the shares more vulnerable to profit-taking and valuation concerns. Sandisk stock is firing on all cylinders: is a day of reckoning coming?
• Neutral Sentiment: Another article suggests analysts still see Sandisk as a key AI memory beneficiary, reinforcing the long-term demand story even as short-term trading turns volatile. These Experts Say the Memory-Stock Runup May Not Be Over Yet
• Negative Sentiment: Friday’s selloff appears driven by a “parabolic” unwind in semiconductor leaders, with Sandisk and peers Micron and Marvell sliding as investors reduce exposure to overheated AI trades. Micron, Sandisk stocks slide as traders exit high-flying AI plays
• Negative Sentiment: New competition concerns and softer sentiment across tech hardware added to the weakness, suggesting near-term momentum could fade if the sector rotation continues. Micron (MU), SanDisk (SNDK) Stocks Slide after Broadcom Outlook and New Competition Threat

Sandisk Price Performance

The company has a market capitalization of $230.92 billion, a price-to-earnings ratio of 54.20 and a beta of 4.87. The stock has a 50-day moving average price of $1,174.63 and a 200-day moving average price of $695.82.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The company had revenue of $5.95 billion during the quarter. During the same period in the previous year, the business earned ($0.30) earnings per share. The business’s quarterly revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities analysts forecast that Sandisk Corporation will post 63.58 earnings per share for the current year.

Institutional Trading of Sandisk

A number of hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC lifted its position in shares of Sandisk by 233.3% in the first quarter. Parallel Advisors LLC now owns 1,430 shares of the data storage provider’s stock valued at $909,000 after buying an additional 1,001 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Sandisk by 187.2% in the first quarter. NewEdge Advisors LLC now owns 18,129 shares of the data storage provider’s stock valued at $11,518,000 after buying an additional 11,817 shares during the last quarter. Keel Point LLC acquired a new stake in shares of Sandisk in the first quarter valued at approximately $314,000. Glenmede Trust Co. NA lifted its position in shares of Sandisk by 76.4% in the first quarter. Glenmede Trust Co. NA now owns 2,754 shares of the data storage provider’s stock valued at $1,750,000 after buying an additional 1,193 shares during the last quarter. Finally, Liontrust Investment Partners LLP acquired a new stake in shares of Sandisk in the first quarter valued at approximately $11,892,000.

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.