Polar Asset Management Partners Inc. Invests $241,000 in Sandisk Corporation $SNDK

Polar Asset Management Partners Inc. bought a new stake in shares of Sandisk Corporation (NASDAQ:SNDK) during the third quarter, Holdings Channel reports. The fund bought 2,147 shares of the data storage provider’s stock, valued at approximately $241,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in Sandisk in the 3rd quarter worth about $1,136,000. New York State Teachers Retirement System purchased a new position in shares of Sandisk in the third quarter valued at approximately $13,546,000. Sage Rhino Capital LLC acquired a new stake in shares of Sandisk in the third quarter worth approximately $587,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Sandisk during the third quarter worth approximately $7,046,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Sandisk during the third quarter worth approximately $514,000.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SNDK shares. KGI Securities started coverage on shares of Sandisk in a research note on Wednesday. They set an “outperform” rating and a $992.00 target price on the stock. Raymond James Financial upgraded shares of Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 price target on the stock in a research report on Friday, January 30th. Sanford C. Bernstein increased their price objective on shares of Sandisk from $300.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. started coverage on shares of Sandisk in a research note on Monday, December 8th. They issued a “neutral” rating and a $235.00 target price on the stock. Finally, Wedbush boosted their target price on Sandisk from $600.00 to $740.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $570.19.

Insider Activity

In other news, Director Miyuki Suzuki sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the completion of the sale, the director owned 9,907 shares in the company, valued at $6,216,939.71. This trade represents a 26.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.

Sandisk Trading Down 8.1%

Shares of SNDK stock opened at $709.71 on Friday. The company has a current ratio of 3.11, a quick ratio of 1.92 and a debt-to-equity ratio of 0.06. Sandisk Corporation has a twelve month low of $27.89 and a twelve month high of $777.60. The company’s 50-day moving average price is $580.47 and its 200-day moving average price is $321.34. The stock has a market cap of $104.75 billion and a price-to-earnings ratio of -93.51.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, January 29th. The data storage provider reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $2.89. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. The firm’s revenue was up 61.2% on a year-over-year basis.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Citi raised its price target to $875 and maintained a buy stance, signaling significant upside expectations and supporting the stock’s recent run. Benzinga / TickerReport on Citi price target raise
• Positive Sentiment: A Citi analyst also boosted earnings/volume forecasts, saying data‑center NAND bit demand is “through the roof,” which underpins longer‑term revenue prospects for SanDisk. TipRanks: Citi analyst hike
• Positive Sentiment: SanDisk recently hit all‑time highs amid strong demand for AI‑optimized storage, which helped push momentum and attracted momentum buyers ahead of this pullback. TipRanks: all‑time high coverage
• Positive Sentiment: KGI Securities and other firms initiated/expanded coverage with constructive ratings, increasing institutional attention and potential buy‑side interest. AmericanBankingNews: KGI initiates coverage
• Neutral Sentiment: Technical analysts flagged bullish patterns (golden cross on key moving averages) that can attract technical buyers but don’t guarantee sustained gains. 24/7 Wall St.: golden cross article
• Neutral Sentiment: Analyst/market commentary and media speculation about a potential stock split have circulated; such talk can boost retail interest but is speculative until management confirms. 24/7 Wall St.: stock split speculation
• Negative Sentiment: Profit‑taking and a debate in the press — framed as “AI breakout or speculative bubble” — have driven a short‑term pullback as investors reassess valuation after the rapid rise. 24/7 Wall St.: AI breakout vs bubble
• Negative Sentiment: Coverage noting intra‑session drops and pre‑market weakness highlights elevated volatility — short‑term traders may exacerbate moves, increasing downside risk for momentum investors. MSN: what’s behind the drop

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.