Global Trust Asset Management LLC Invests $1.65 Million in Sandisk Corporation $SNDK

Global Trust Asset Management LLC bought a new position in shares of Sandisk Corporation (NASDAQ:SNDK) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,601 shares of the data storage provider’s stock, valued at approximately $1,653,000.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp bought a new stake in Sandisk in the 3rd quarter valued at $491,053,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Sandisk during the 3rd quarter valued at about $297,293,000. Norges Bank bought a new position in shares of Sandisk during the 4th quarter valued at about $518,889,000. Bank of America Corp DE purchased a new position in shares of Sandisk during the third quarter valued at about $190,425,000. Finally, AQR Capital Management LLC purchased a new position in shares of Sandisk during the third quarter valued at about $163,057,000.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SNDK. Melius Research set a $2,350.00 target price on Sandisk in a report on Monday, May 18th. Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Jefferies Financial Group restated a “buy” rating and set a $1,400.00 price target on shares of Sandisk in a report on Friday, May 1st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,200.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Finally, Citigroup upped their price objective on Sandisk from $2,025.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Three investment 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 company’s stock. According to data from MarketBeat.com, Sandisk currently has an average rating of “Moderate Buy” and a consensus target price of $1,665.19.

Insiders Place Their Bets

In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the sale, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total value of $1,041,600.00. Following the sale, the insider owned 32,232 shares of the company’s stock, valued at approximately $55,954,752. This trade represents a 1.83% 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 5,625 shares of company stock worth $8,913,497 in the last 90 days. 0.21% of the stock is owned by insiders.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bernstein raised its price target on Sandisk sharply, highlighting more powerful contracts and a durable long-term business model that could support higher earnings. Bernstein Rockets SanDisk Price Target to $3,000 on SNDK’s Contracts Becoming ‘More Powerful’
• Positive Sentiment: Another bullish update says Sandisk is benefiting from the memory supercycle, with rising AI data-center demand supporting the stock’s advance. SanDisk gains after Bernstein raises price target on memory supercycle outlook
• Positive Sentiment: Some analysts argue Sandisk’s shift into high-bandwidth flash and disciplined supply management could improve margins and reduce the company’s historical cyclicality. Sandisk: The Bull Theses Hiding Behind The NAND Debate

Sandisk Price Performance

Sandisk stock opened at $2,273.73 on Wednesday. The firm has a market capitalization of $336.72 billion, a P/E ratio of 79.03 and a beta of 4.87. Sandisk Corporation has a 1-year low of $40.10 and a 1-year high of $2,354.39. The company’s 50-day moving average is $1,595.68 and its 200 day moving average is $912.98.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.17 by $9.24. The business had revenue of $5.95 billion during the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The firm’s quarterly revenue was up 251.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Research analysts anticipate that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

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.