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

Sandisk Corporation (NASDAQ:SNDK)’s stock price was down 4.5% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $1,362.00 and last traded at $1,382.72. Approximately 11,065,285 shares traded hands during trading, a decline of 40% from the average daily 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 firm’s stock in a transaction dated 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 transaction, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Necip Sayiner sold 579 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the transaction, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. This represents a 16.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analysts Set New Price Targets

A number of research firms recently commented on SNDK. Sanford C. Bernstein raised their price target on shares of Sandisk from $1,250.00 to $1,700.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Evercore reaffirmed an “outperform” rating and set a $1,400.00 price target on shares of Sandisk in a research report on Friday, May 1st. KGI Securities began coverage on shares of Sandisk in a research report on Wednesday, March 18th. They set an “outperform” rating and a $992.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $1,400.00 price target on shares of Sandisk in a research report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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 Trading Up 1.8%

The business’s 50 day moving average price is $899.12 and its two-hundred day moving average price is $553.06. The company has a market capitalization of $208.45 billion, a price-to-earnings ratio of 48.93 and a beta of 4.82.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter. During the same quarter in the previous year, the business posted ($0.30) earnings per share. The company’s revenue for the quarter was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts expect that Sandisk Corporation will post 63.93 EPS for the current year.

Institutional Investors Weigh In On Sandisk

Several hedge funds have recently added to or reduced their stakes in SNDK. Osaic Holdings Inc. acquired a new stake in Sandisk during the 2nd quarter worth approximately $317,000. Merit Financial Group LLC acquired a new stake in Sandisk during the 3rd quarter worth approximately $408,000. HB Wealth Management LLC acquired a new stake in Sandisk during the 3rd quarter worth approximately $348,000. SG Americas Securities LLC acquired a new stake in Sandisk during the 3rd quarter worth approximately $722,000. Finally, Forum Financial Management LP acquired a new stake in Sandisk during the 3rd quarter worth approximately $213,000.

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.