Sandisk (NASDAQ:SNDK) Insider Bernard Shek Sells 600 Shares

Sandisk Corporation (NASDAQ:SNDK) insider Bernard Shek sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the completion of the transaction, the insider directly owned 31,515 shares in the company, valued at $65,803,320. This trade represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bernard Shek also recently made the following trade(s):

• On Wednesday, June 3rd, Bernard Shek sold 600 shares of Sandisk stock. The shares were sold at an average price of $1,736.00, for a total value of $1,041,600.00.

Sandisk Trading Down 14.1%

Sandisk stock opened at $1,745.00 on Friday. Sandisk Corporation has a 12 month low of $40.10 and a 12 month high of $2,354.39. The stock has a fifty day simple moving average of $1,634.90 and a two-hundred day simple moving average of $936.43. The firm has a market cap of $258.42 billion, a price-to-earnings ratio of 60.65 and a beta of 4.72.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings results 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 firm had revenue of $5.95 billion for the quarter. During the same period in the previous year, the company earned ($0.30) earnings per share. The company’s revenue for the quarter was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities research analysts forecast that Sandisk Corporation will post 64.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Sandisk

Several institutional investors have recently made changes to their positions in SNDK. Allworth Financial LP grew its holdings in Sandisk by 84.2% during the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock valued at $1,073,000 after purchasing an additional 2,067 shares during the period. Tredje AP fonden purchased a new stake in Sandisk in the fourth quarter worth about $7,821,000. ProShare Advisors LLC raised its stake in shares of Sandisk by 1,301.5% in the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock worth $7,985,000 after buying an additional 31,237 shares during the period. FourThought Financial Partners LLC bought a new position in shares of Sandisk in the fourth quarter worth about $422,000. Finally, North Dakota State Investment Board purchased a new position in shares of Sandisk during the 4th quarter valued at about $1,127,000.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk announced sampling of its BiCS10 1Tb TLC 3D NAND flash memory, highlighting higher density, better power efficiency, and faster interface speeds for data-intensive workloads. Article Title
• Positive Sentiment: China Renaissance raised its price target on Sandisk to $3,169, citing strong AI storage demand, while Bank of America also lifted its target to $2,500 and reiterated a buy rating. Article Title
• Neutral Sentiment: Market commentary continued to frame Sandisk as a high-volatility AI infrastructure winner, with some analysts arguing that recent swings may be creating buying opportunities on dips. Article Title
• Negative Sentiment: Investor rotation away from AI chip and memory hardware names has hit Sandisk, with traders shifting toward AI software and raising concerns about a temporary memory-sector pullback. Article Title
• Negative Sentiment: Heavy profit-taking and broader supply-glut fears in memory stocks also weighed on Sandisk, adding to the sector-wide decline despite the company’s strong fundamentals. Article Title
• Negative Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged 10b5-1 plan, which may add a little caution even though the sale was disclosed as routine. Article Title

Analysts Set New Price Targets

A number of brokerages have recently commented on SNDK. Barclays upgraded shares of Sandisk from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. KGI Securities began coverage on shares of Sandisk in a report on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 target price on the stock. Melius Research set a $2,350.00 target price on shares of Sandisk in a research report on Monday, May 18th. Citigroup boosted their target price on shares of Sandisk from $2,025.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Finally, Cantor Fitzgerald increased their price target on Sandisk from $1,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,684.24.

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.