Renaissance Technologies LLC Sells 409,432 Shares of Sandisk Corporation $SNDK

Renaissance Technologies LLC lessened its stake in shares of Sandisk Corporation (NASDAQ:SNDK) by 33.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 799,568 shares of the data storage provider’s stock after selling 409,432 shares during the quarter. Sandisk makes up 0.8% of Renaissance Technologies LLC’s investment portfolio, making the stock its 9th biggest position. Renaissance Technologies LLC’s holdings in Sandisk were worth $507,998,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Hilltop Holdings Inc. purchased a new stake in shares of Sandisk in the 1st quarter valued at approximately $215,000. Public Employees Retirement System of Ohio boosted its position in shares of Sandisk by 19.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 48,905 shares of the data storage provider’s stock worth $31,071,000 after purchasing an additional 7,898 shares during the period. Compound Planning Inc. boosted its position in shares of Sandisk by 53.4% during the 1st quarter. Compound Planning Inc. now owns 2,922 shares of the data storage provider’s stock worth $1,856,000 after purchasing an additional 1,017 shares during the period. Klingman & Associates LLC purchased a new position in shares of Sandisk during the 1st quarter worth approximately $230,000. Finally, Perseverance Asset Management International acquired a new stake in Sandisk in the 1st quarter valued at approximately $3,481,000.

Sandisk Stock Performance

Shares of SNDK stock opened at $1,436.56 on Friday. Sandisk Corporation has a fifty-two week low of $40.10 and a fifty-two week high of $2,354.39. The company has a 50 day moving average price of $1,754.03 and a 200 day moving average price of $1,087.24. The stock has a market capitalization of $212.74 billion, a P/E ratio of 49.93 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last released its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. The company had revenue of $5.95 billion for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. Sandisk’s quarterly revenue was up 251.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, research analysts forecast that Sandisk Corporation will post 64.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNDK. Wedbush boosted their target price on Sandisk from $1,200.00 to $2,000.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Jefferies Financial Group restated a “buy” rating and set a $1,400.00 price target on shares of Sandisk in a research report on Friday, May 1st. Susquehanna dropped their price objective on Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating for the company in a research note on Thursday. Weiss Ratings cut Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Finally, Melius Research set a $2,350.00 price objective on Sandisk in a report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,811.38.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk remains a major AI-storage beneficiary, with multiple recent articles highlighting strong demand for memory and enterprise storage tied to AI infrastructure spending and tight supply. Article Title
• Positive Sentiment: Analysts and traders are still focused on SanDisk’s upcoming fiscal Q4 earnings on August 5, with expectations for a large move and a chance for another earnings beat after a strong surprise history. Article Title
• Neutral Sentiment: New ETF products are being launched to trade the DRAM and memory rally, underscoring strong investor interest in the group, though this is more a sentiment signal than a direct catalyst for SanDisk. Article Title
• Neutral Sentiment: Options traders are pricing in a sizable post-earnings swing, reflecting elevated expectations and uncertainty heading into the report. Article Title
• Negative Sentiment: Memory and chip stocks are under pressure today, and SanDisk is being dragged lower by a sector-wide risk-off move after recent gains in AI-related semiconductors. Article Title
• Negative Sentiment: SanDisk has also pulled back sharply from recent highs, and some coverage now frames the move as a correction after an extended AI-driven rally. Article Title

Insider Buying and Selling at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction 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 owned 31,515 shares of the company’s stock, valued at approximately $65,803,320. This trade represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 6,225 shares of company stock worth $10,166,297. 0.21% of the stock is currently owned by insiders.

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.