iA Global Asset Management Inc. Sells 19,840 Shares of Sandisk Corporation $SNDK

iA Global Asset Management Inc. lessened its position in shares of Sandisk Corporation (NASDAQ:SNDK) by 43.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 25,350 shares of the data storage provider’s stock after selling 19,840 shares during the quarter. iA Global Asset Management Inc.’s holdings in Sandisk were worth $16,106,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised 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 valued at $1,253,728,000 after purchasing an additional 904,933 shares in the last quarter. Geode Capital Management LLC boosted its stake in Sandisk by 44.9% during the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after buying an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Sandisk by 31.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after buying an additional 828,332 shares in the last quarter. Morgan Stanley boosted its stake in Sandisk by 7.2% during the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after buying an additional 199,545 shares in the last quarter. Finally, Norges Bank bought a new stake in Sandisk in the 4th quarter valued at $518,889,000.

Sandisk Stock Performance

SNDK opened at $2,273.73 on Wednesday. The firm has a market cap of $336.72 billion, a price-to-earnings ratio of 79.03 and a beta of 4.87. The firm’s 50-day simple moving average is $1,595.68 and its 200-day simple moving average is $912.98. Sandisk Corporation has a twelve month low of $40.10 and a twelve month high of $2,354.39.

Sandisk (NASDAQ:SNDK) last announced its quarterly 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 firm had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company’s revenue for the quarter was up 251.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, sell-side analysts anticipate that Sandisk Corporation will post 64.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SNDK has been the subject of a number of recent research reports. Weiss Ratings cut shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 3rd. KGI Securities assumed coverage on shares of Sandisk in a research report on Wednesday, March 18th. They set an “outperform” rating and a $992.00 target price on the stock. Bank of America upped their target price on shares of Sandisk from $1,550.00 to $2,100.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Wells Fargo & Company increased their price target on shares of Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada raised their price target on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,665.19.

Key Stories Impacting Sandisk

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

Insider Activity

In other news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the transaction, the director owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Michael Pokorny sold 2,446 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 22,375 shares in the company, valued at $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 5,625 shares of company stock worth $8,913,497. 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.