OneAscent Financial Services LLC Purchases New Position in Sandisk Corporation $SNDK

OneAscent Financial Services LLC purchased a new stake in shares of Sandisk Corporation (NASDAQ:SNDK) in the second quarter, Holdings Channel.com reports. The firm purchased 550 shares of the data storage provider’s stock, valued at approximately $1,252,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Sandisk during the second quarter valued at approximately $23,408,732,000. State Street Corp lifted its stake in Sandisk by 20.7% during 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 acquiring an additional 904,933 shares in the last quarter. Geode Capital Management LLC lifted its stake in Sandisk by 44.9% during the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after acquiring an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Sandisk by 31.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after acquiring an additional 828,332 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Sandisk by 7.2% during the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after acquiring an additional 199,545 shares during the last quarter.

Sandisk Price Performance

Shares of NASDAQ SNDK opened at $1,600.62 on Friday. The stock has a market capitalization of $234.36 billion, a PE ratio of 21.96, a P/E/G ratio of 0.16 and a beta of 5.20. Sandisk Corporation has a one year low of $43.56 and a one year high of $2,354.39. The business’s fifty day moving average price is $1,663.24 and its 200-day moving average price is $1,217.48.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The company had revenue of $8.96 billion during the quarter. During the same period last year, the business posted $0.29 EPS. The company’s revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, equities analysts expect that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

Sandisk declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in shares. This repurchase authorization authorizes the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,162.16, for a total value of $697,296.00. Following the sale, the insider owned 30,915 shares of the company’s stock, valued at $35,928,176.40. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 that occurred on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the sale, the executive vice president owned 52,677 shares in the company, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,800 shares of company stock valued at $6,504,856 in the last quarter. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SNDK. Wells Fargo & Company increased their target price on shares of Sandisk from $1,400.00 to $1,550.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Argus upgraded shares of Sandisk from a “hold” rating to a “buy” rating in a report on Monday, August 10th. Raymond James Financial reaffirmed an “outperform” rating and issued a $1,470.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Melius Research set a $2,350.00 price objective on shares of Sandisk in a research note on Monday, May 18th. Finally, Susquehanna dropped their target price on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating on the stock in a research report on Thursday, July 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $1,999.27.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wall Street is increasingly focused on SanDisk’s long-term earnings potential. Rising AI-generated data is expected to drive demand for high-capacity NAND storage, while the company’s contract-based sales strategy could make results and margins more predictable than in past memory cycles. SanDisk’s long-term financial outlook is turning heads on Wall Street
• Positive Sentiment: Several analyses argue that AI infrastructure demand could support substantially higher earnings and potentially enable margins near 80%, challenging the view that SanDisk remains solely a commodity memory producer. From Commodity to Cash Machine? SanDisk Targets 80% Margins in AI Storage Boom
• Positive Sentiment: Market commentary remains bullish on SanDisk’s upside earnings potential despite weakness across memory stocks, with the broader thesis that every additional byte created by AI requires a storage destination. SanDisk Thesis: Every Byte AI Creates Needs A Home
• Neutral Sentiment: Technical traders are watching for a rebound toward the mid-$1,600s, with resistance near $1,696.50 and support around $1,485. This suggests elevated volatility rather than a clear change in fundamentals. What’s Going On With SanDisk Stock Thursday?
• Neutral Sentiment: Investor opinion is divided after the stock’s extraordinary 12-month advance; some hedge funds remain optimistic, while others are reducing exposure or taking profits. SanDisk Is Up 3,911% Over Twelve Months
• Negative Sentiment: Shares faced pressure alongside Micron and other memory companies as an Asian technology selloff highlighted continuing sector volatility. Why Are Micron and SanDisk Stocks Falling Today
• Negative Sentiment: Investors are questioning the durability of SanDisk’s record revenue because roughly two-thirds reportedly came from pricing, leaving results vulnerable if NAND prices weaken. SanDisk drops before OCP Korea Tech Day
• Negative Sentiment: Appaloosa, managed by David Tepper, exited its entire 281,250-share SanDisk position during the quarter in which the stock reached its recent high, adding profit-taking and valuation concerns. David Tepper Sold His Entire Sandisk Stake

Sandisk Profile

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.