Sandisk Corporation $SNDK Shares Sold by Cidel Asset Management Inc.

Cidel Asset Management Inc. cut its position in shares of Sandisk Corporation (NASDAQ:SNDK) by 42.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 482 shares of the data storage provider’s stock after selling 349 shares during the period. Cidel Asset Management Inc.’s holdings in Sandisk were worth $1,094,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings in shares of Sandisk by 235,032.6% during the 2nd quarter. California State Teachers Retirement System now owns 380,392,755 shares of the data storage provider’s stock worth $864,910,419,000 after buying an additional 380,230,977 shares during the last quarter. BlackRock Inc. purchased a new stake in Sandisk in the second quarter valued at $23,408,732,000. State Street Corp acquired a new position in shares of Sandisk in the 3rd quarter valued at $491,053,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Sandisk in the 3rd quarter valued at $297,293,000. Finally, Norges Bank purchased a new position in shares of Sandisk during the 4th quarter worth $518,889,000.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven memory demand remains the primary catalyst. Analysts say NAND demand from data centers and AI systems is strengthening, while constrained supply could support pricing and margins. Goldman Sachs reportedly believes the worst of the memory-sector downturn may be over, helping lift Sandisk and peers Micron and SK Hynix. Memory stocks rally article
• Positive Sentiment: Analysts continue to see upside. Citi reaffirmed a Buy rating and maintained its $2,100 price target, citing strengthening AI-related NAND demand. Other bullish commentary points to approximately $93.9 billion in minimum-revenue commitments, potentially more than $24 billion in fiscal 2027 free cash flow and strong pricing power from new business models. Citi Sandisk rating article
• Positive Sentiment: Index inclusion could provide additional demand. Sandisk is scheduled to join the S&P 100 before trading opens September 21, which may increase institutional visibility and trigger purchases by index-tracking funds. S&P 100 inclusion article
• Neutral Sentiment: The investment case is increasingly dependent on momentum. SNDK has risen more than 600% in less than a year and trades near the upper end of its 52-week range. Bullish investors expect another leg higher, but valuation models and technical signals disagree about whether earnings growth can justify the move. SanDisk price of momentum article
• Negative Sentiment: Profit-taking and analyst caution could increase volatility. Zacks Research downgraded Sandisk from Strong Buy to Hold, while coverage warns that memory demand, NAND pricing and customer spending remain cyclical. Two executives also sold shares under pre-arranged Rule 10b5-1 plans, including roughly $12 million of reported insider sales since the beginning of September; both retained substantial holdings. Sandisk insider trading article

Sandisk Stock Performance

Shares of SNDK stock opened at $1,764.17 on Thursday. Sandisk Corporation has a fifty-two week low of $72.03 and a fifty-two week high of $2,354.39. The company has a 50 day moving average price of $1,521.04 and a 200 day moving average price of $1,313.91. The stock has a market capitalization of $258.31 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 0.17 and a beta of 5.17.

Sandisk (NASDAQ:SNDK) last released its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company had revenue of $8.96 billion for the quarter. During the same quarter last year, the company earned $0.29 earnings per share. Sandisk’s quarterly revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, research analysts forecast that Sandisk Corporation will post 208.92 EPS for the current fiscal year.

Sandisk declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in shares. This repurchase authorization authorizes the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group reissued an “overweight” rating and set a $1,750.00 price objective on shares of Sandisk in a research report on Friday, August 14th. JPMorgan Chase & Co. assumed coverage on shares of Sandisk in a research note on Friday, August 14th. They set an “overweight” rating and a $2,250.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,900.00 price target on shares of Sandisk in a research report on Monday, August 10th. Citigroup reduced their price target on shares of Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Barclays raised shares of Sandisk from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,998.14.

Insiders Place Their Bets

In related news, EVP Alper Ilkbahar sold 4,712 shares of Sandisk stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the completion of the transaction, the executive vice president directly owned 44,134 shares in the company, valued at approximately $67,991,957.72. This trade represents a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $1,767.33, for a total value of $4,078,997.64. Following the transaction, the insider directly owned 25,305 shares of the company’s stock, valued at $44,722,285.65. The trade was a 8.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,220 shares of company stock worth $14,829,223 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.

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.