J. Safra Sarasin Holding AG bought a new position in Sandisk Corporation (NASDAQ:SNDK – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 895 shares of the data storage provider’s stock, valued at approximately $569,000.
A number of other hedge funds also recently made changes to their positions in the company. State Street Corp bought a new position in Sandisk during the third quarter valued at approximately $491,053,000. Arrowstreet Capital Limited Partnership bought a new stake in Sandisk in the 3rd quarter worth approximately $297,293,000. Norges Bank bought a new stake in Sandisk in the 4th quarter worth approximately $518,889,000. Bank of America Corp DE purchased a new stake in shares of Sandisk during the 3rd quarter worth approximately $190,425,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Sandisk during the 3rd quarter worth approximately $163,057,000.
Sandisk Stock Performance
NASDAQ:SNDK opened at $1,615.00 on Thursday. The stock’s fifty day moving average is $1,748.98 and its 200 day moving average is $1,032.16. Sandisk Corporation has a fifty-two week low of $40.10 and a fifty-two week high of $2,354.39. The firm has a market capitalization of $239.17 billion, a PE ratio of 56.13 and a beta of 4.74.
Key Headlines Impacting Sandisk
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Analysts remain bullish despite the pullback, with Wedbush, BofA and Bernstein lifting price targets and some commentary arguing the AI memory boom still has room to run. Wedbush Pounds the Table—Buy Sandisk Before August 5 Earnings
- Positive Sentiment: Several articles highlight strong recent earnings, improving memory pricing and AI-driven demand as reasons investors still see upside ahead of SanDisk’s Aug. 5 earnings report. What’s Going on With Sandisk Stock Wednesday?
- Neutral Sentiment: Argus initiated coverage with a Hold, saying the stock has already had a big post-spin-off rally and that investors may need either a pullback or clearer earnings acceleration before paying up again. Analyst Maintains Hold on SanDisk After Post–Spin-Off Rally
- Negative Sentiment: Profit-taking is hitting the entire memory complex, and SanDisk is being sold alongside Micron, Western Digital and SK Hynix as traders lock in gains after a steep multi-month rally. Dell, Micron, SanDisk tumble as AI hardware rally hits reversal
- Negative Sentiment: More cautious commentary says the best part of the rally could be over, with some investors worrying that the stock’s valuation and momentum have outrun fundamentals for now. Sandisk: The Best Part Of The Rally Could Be Over
Insider Activity
In other news, CAO Michael Pokorny sold 2,446 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the completion of the sale, the chief accounting officer owned 22,375 shares in the company, valued at approximately $31,910,777.50. This trade represents a 9.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,225 shares of company stock worth $10,166,297 over the last 90 days. Insiders own 0.21% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on SNDK. Barclays raised shares of Sandisk from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Melius Research set a $2,350.00 price target on shares of Sandisk in a research note on Monday, May 18th. Wells Fargo & Company increased their price objective on shares of Sandisk from $975.00 to $1,250.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Sanford C. Bernstein lifted their price objective on shares of Sandisk from $1,700.00 to $3,000.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Finally, Raymond James Financial restated an “outperform” rating and issued a $1,470.00 target price on shares of Sandisk in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,803.29.
Read Our Latest Research Report on Sandisk
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.
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