Essential Partners LLC Reduces Stock Position in Sandisk Corporation $SNDK

Essential Partners LLC trimmed its holdings in Sandisk Corporation (NASDAQ:SNDK) by 47.9% during the first quarter, HoldingsChannel.com reports. The firm owned 841 shares of the data storage provider’s stock after selling 773 shares during the period. Essential Partners LLC’s holdings in Sandisk were worth $534,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SNDK. State Street Corp increased its stake in shares of Sandisk by 20.7% in the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after buying an additional 904,933 shares during the last quarter. Geode Capital Management LLC boosted 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 during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake 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 valued at $825,608,000 after acquiring an additional 828,332 shares during the last quarter. Morgan Stanley grew 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 in the last quarter. Finally, Norges Bank acquired a new position in Sandisk during the 4th quarter worth $518,889,000.

Wall Street Analyst Weigh In

SNDK has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $1,400.00 target price on shares of Sandisk in a research note on Friday, May 1st. Wedbush lifted their price target on Sandisk from $1,200.00 to $2,000.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Citigroup boosted their price objective on Sandisk from $2,025.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Arete Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Finally, Weiss Ratings downgraded Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,811.38.

Insider Buying and Selling at Sandisk

In related news, EVP Alper Ilkbahar sold 2,000 shares of the 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 sale, the executive vice president owned 52,677 shares in the company, valued at $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the transaction, the director directly owned 2,900 shares in the company, valued at $4,359,019. This represents a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,225 shares of company stock worth $10,166,297 in the last quarter. 0.21% of the stock is currently owned by corporate insiders.

Sandisk Price Performance

SNDK stock opened at $1,279.96 on Friday. The firm has a market cap of $189.55 billion, a price-to-earnings ratio of 44.49 and a beta of 4.74. Sandisk Corporation has a 1-year low of $40.10 and a 1-year high of $2,354.39. The firm has a fifty day moving average price of $1,734.42 and a two-hundred day moving average price of $1,115.89.

Sandisk (NASDAQ:SNDK) last posted its quarterly 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. 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 quarterly revenue was up 251.0% compared to the same quarter last year. As a group, analysts expect that Sandisk Corporation will post 64.52 EPS for the current fiscal year.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI spending optimism returned. Microsoft’s commitment to approximately $190 billion in capital expenditures helped ease concerns that cloud and AI infrastructure investment was slowing. The news lifted expectations for demand for data-center storage and memory products, including SanDisk’s enterprise NAND solutions. Microsoft Committed $190B CapEx and Pulled SanDisk Out of Their Slump
• Positive Sentiment: Memory-sector supply conditions appeared more favorable. Samsung Electronics reported a significant increase in chip profit and signed multiyear supply agreements with data-center operators, while warning that chip shortages could persist through 2028. That supported a broader rebound in memory stocks and reinforced the potential for stronger pricing. Why Micron, SanDisk, SK Hynix and Other Memory Stocks Are Roaring Back
• Positive Sentiment: Investors are positioning ahead of fiscal fourth-quarter earnings on August 5. Analysts cited the possibility of another earnings beat, with consensus estimates calling for roughly $33.38 per share in EPS. SanDisk has reportedly exceeded earnings and revenue expectations for five consecutive quarters, while long-term contracts and approximately $42 billion in commitments support visibility into future demand. SanDisk Stock Is Gaining Thursday: What’s Going On?
• Neutral Sentiment: The rebound follows an extreme decline. SNDK had fallen roughly 57% from its peak and was considered deeply oversold, encouraging technical traders and investors seeking a recovery. However, the stock’s exceptionally high beta indicates that price swings may remain substantial. Is SanDisk Stock Crash Over?
• Negative Sentiment: Risks remain significant. Morningstar reportedly sees the AI boom as potentially finite before a possible downturn, while investors continue to worry about Chinese competition, another NAND oversupply cycle and the stock’s elevated valuation. Earnings guidance and management’s outlook will be critical to determining whether the rebound can continue. SanDisk Falls 54%: Morningstar Sees Finite AI Boom

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.