Sandisk (NASDAQ:SNDK) Shares Down 6.2% After Insider Selling

Sandisk Corporation (NASDAQ:SNDK) traded down 6.2% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $1,367.00 and last traded at $1,452.02. 16,515,545 shares were traded during trading, a decline of 11% from the average session volume of 18,569,943 shares. The stock had previously closed at $1,547.56.

Specifically, Director Necip Sayiner sold 579 shares of the company’s 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 transaction of $870,300.69. Following the sale, the director owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. This represents a 16.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Sandisk from $750.00 to $1,200.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. KGI Securities began coverage on shares of Sandisk in a report on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 price target on the stock. Arete Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Jefferies Financial Group reissued a “buy” rating and issued a $1,400.00 price target on shares of Sandisk in a report on Friday, May 1st. Finally, Citigroup increased their price target on shares of Sandisk from $980.00 to $1,300.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,065.81.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts and market commentary continue to point to strong AI-related NAND and data-center demand as the main bull case for Sandisk (SNDK), with upbeat guidance and bullish price targets still supporting the stock. Sandisk Hits 52-Week High: Should You Still Buy the Stock?
• Positive Sentiment: Recent coverage says the AI memory boom is still attracting new money, including ETF interest, which reinforces investor enthusiasm for Sandisk’s role in the storage cycle. Micron, SanDisk Lead AI Memory Rally — Now A 2X ETF Wants In
• Positive Sentiment: SanDisk’s latest earnings were described as a record quarter, suggesting fundamentals are still strong despite the stock’s volatility. SanDisk (SNDK) Delivered a Record Quarter. The AI Storage Bull Case Is Intact
• Neutral Sentiment: One director sold a relatively small number of shares, which may add some caution but does not by itself change the investment thesis. Necip Sayiner Sells 579 Shares of Sandisk (NASDAQ:SNDK) Stock
• Neutral Sentiment: Some articles warn that the stock is extremely overbought after its parabolic run, so traders may be expecting a pause or pullback. SanDisk stock is in a bull run — but RSI says a pullback may be near
• Negative Sentiment: Memory and storage stocks sold off sharply as investors took profits after the sector’s massive AI-fueled run, pressuring Sandisk (SNDK) along with peers like Micron and Western Digital. Why Sandisk, Micron stock are plunging upto 9% on Tuesday
• Negative Sentiment: Another report says a political shock from South Korea hit the memory trade and triggered a broader chip rout, adding a new near-term headwind for the stock. SanDisk, Micron Stocks Plummet As Korea Shockwave Batters The Great Memory Boom

Sandisk Stock Performance

The company has a market cap of $215.03 billion, a PE ratio of 50.47 and a beta of 4.82. The stock’s 50 day moving average price is $833.70 and its 200-day moving average price is $520.41.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company had revenue of $5.95 billion during the quarter. During the same period last year, the company posted ($0.30) EPS. Sandisk’s revenue for the quarter was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, analysts anticipate that Sandisk Corporation will post 63.93 EPS for the current year.

Institutional Investors Weigh In On Sandisk

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in shares of Sandisk in the 3rd quarter valued at $1,970,388,000. State Street Corp boosted its stake in shares of Sandisk by 20.7% in the 4th 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 shares of Sandisk by 44.9% in the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after purchasing an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after purchasing an additional 828,332 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Sandisk by 7.2% in the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after purchasing an additional 199,545 shares in the last quarter.

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.