Sandisk (NASDAQ:SNDK) Stock Price Down 2.5% on Insider Selling

Sandisk Corporation (NASDAQ:SNDK)’s stock price was down 2.5% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $1,686.16 and last traded at $1,716.9480. Approximately 9,638,384 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 13,438,613 shares. The stock had previously closed at $1,761.43.

Specifically, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SNDK shares. Cantor Fitzgerald raised their price objective on shares of Sandisk from $1,400.00 to $1,800.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Melius Research set a $2,350.00 price objective on shares of Sandisk in a research report on Monday, May 18th. Raymond James Financial restated an “outperform” rating and set a $1,470.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $1,368.73.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Multiple articles highlighted Sandisk as a beneficiary of the AI memory supercycle, with analysts and commentators saying tight memory markets, strong pricing, and booming data center demand could keep supporting earnings and valuation. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Positive Sentiment: Several bullish pieces said Sandisk remains one of the favored AI memory stocks, with some writers arguing the company is still undervalued despite its huge run and that analysts see additional upside ahead. After SanDisk’s Historic Run, Analysts Still See More Upside
• Positive Sentiment: Sandisk was also cited as one of the top-searching and most-followed tickers in May, reflecting strong retail and trader interest that can help keep momentum in the stock. Is Sandisk Corporation (SNDK) One of the Top Undervalued Blue Chip Stocks Analysts Recommend for Smart Investing?
• Positive Sentiment: An article on 247WallSt called Sandisk its favorite stock idea, citing the AI data center buildout as a major tailwind for the company’s storage products. Why Sandisk Corporation Is My Favorite Stock Idea Right Now
• Neutral Sentiment: Sandisk EVP Alper Ilkbahar sold 2,000 shares for about $3.5 million, a modest insider sale that may be viewed as routine profit-taking, though it can still add a little caution for investors. SEC filing
• Negative Sentiment: One article noted that Sandisk’s stock and short interest are both at record highs, which suggests the move has become crowded and could invite volatility if sentiment shifts. SanDisk’s stock and short interest both at record highs – do the bears know something?

Sandisk Price Performance

The firm’s fifty day simple moving average is $1,093.12 and its 200 day simple moving average is $657.86. The company has a market capitalization of $254.18 billion, a price-to-earnings ratio of 59.66 and a beta of 4.87.

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

Institutional Trading of Sandisk

Several institutional investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. boosted its holdings in shares of Sandisk by 12.0% during the first quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock worth $77,000 after purchasing an additional 13 shares during the period. Blair William & Co. IL boosted its holdings in shares of Sandisk by 0.3% during the fourth quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider’s stock worth $1,255,000 after purchasing an additional 17 shares during the period. Empirical Finance LLC boosted its holdings in shares of Sandisk by 0.7% during the first quarter. Empirical Finance LLC now owns 3,535 shares of the data storage provider’s stock worth $2,246,000 after purchasing an additional 24 shares during the period. SOA Wealth Advisors LLC. boosted its holdings in shares of Sandisk by 108.0% during the first quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 27 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Sandisk by 20.2% during the fourth quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider’s stock worth $52,000 after purchasing an additional 37 shares during the period.

Sandisk Company 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.