Insider Selling: Sandisk (NASDAQ:SNDK) Insider Sells $4,078,997.64 in Stock

Sandisk Corporation (NASDAQ:SNDK) 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 completion of the transaction, the insider directly owned 25,305 shares of the company’s stock, valued at approximately $44,722,285.65. The trade was a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bernard Shek also recently made the following trade(s):

• On Tuesday, September 1st, Bernard Shek sold 600 shares of Sandisk stock. The stock was sold at an average price of $1,525.60, for a total value of $915,360.00.
• On Monday, August 3rd, Bernard Shek sold 600 shares of Sandisk stock. The shares were sold at an average price of $1,162.16, for a total value of $697,296.00.
• On Wednesday, July 1st, Bernard Shek sold 600 shares of Sandisk stock. The shares were sold at an average price of $2,088.00, for a total value of $1,252,800.00.

Sandisk Stock Performance

Shares of Sandisk stock opened at $1,692.59 on Friday. The company has a market capitalization of $247.83 billion, a PE ratio of 23.22, a P/E/G ratio of 0.18 and a beta of 5.17. The company has a 50-day simple moving average of $1,520.00 and a two-hundred day simple moving average of $1,321.26. Sandisk Corporation has a one year low of $81.38 and a one year high of $2,354.39.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating 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 business had revenue of $8.96 billion for the quarter. During the same quarter in the prior year, the business posted $0.29 earnings per share. The firm’s quarterly revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, equities analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk announced that its board has approved a share buyback plan on Wednesday, August 5th that permits the company to buyback $14.00 billion in shares. This buyback authorization permits the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven NAND demand remains a long-term support. Analysts continue to point to strong data-center and artificial-intelligence infrastructure demand, tight memory supply and potentially higher NAND prices as reasons for optimism about Sandisk’s earnings and margins. Memory prices and Sandisk article
• Positive Sentiment: Citi maintained its Buy rating and $2,100 price target. The analyst cited strengthening AI-related NAND demand, leaving the target above the company’s current trading level. Citi Sandisk rating article
• Neutral Sentiment: Investors remain divided after an extraordinary rally. Sandisk has gained more than 600% year to date, creating substantial momentum but also raising questions about valuation, sustainability of margins and the risk of additional profit-taking. A Goldman Sachs view that the memory downturn may be easing provides sector support, although it has not prevented near-term volatility. Memory stocks outlook article
• Negative Sentiment: Macro conditions triggered a broad technology selloff. Higher oil prices intensified concerns that inflation could keep interest rates elevated, weighing particularly heavily on high-beta growth stocks such as SNDK and its memory-chip peers. Memory stocks falling article
• Negative Sentiment: Rating and insider-selling headlines added pressure. Zacks Research downgraded Sandisk from Strong Buy to Hold, while executives disclosed sales totaling millions of dollars. The transactions were made under pre-arranged Rule 10b5-1 plans, limiting their significance, but they may still reinforce profit-taking concerns. Sandisk insider trading article

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SNDK shares. Weiss Ratings raised shares of Sandisk from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, August 27th. Susquehanna lowered their price objective on Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating for the company in a research report on Thursday, July 23rd. Mizuho dropped their target price on Sandisk from $1,900.00 to $1,875.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 25th. Wells Fargo & Company upped their target price on Sandisk from $1,400.00 to $1,550.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Finally, Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,998.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SNDK. Dunhill Financial LLC acquired a new position in shares of Sandisk in the 2nd quarter valued at $30,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Sandisk during the 2nd quarter worth about $32,000. Kilter Group LLC acquired a new stake in Sandisk during the 2nd quarter worth about $32,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Sandisk during the 2nd quarter valued at about $34,000. Finally, Triumph Capital Management grew its stake in Sandisk by 220.0% during the 2nd quarter. Triumph Capital Management now owns 16 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 11 shares during the last quarter.

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.