Sandisk (NASDAQ:SNDK) Shares Down 7.9% After Insider Selling

Posted by Brian Himes on Nov 4th, 2026

Sandisk Corporation (NASDAQ:SNDK – Get Free Report)’s share price traded down 7.9% during trading on Wednesday following insider selling activity. The company traded as low as $1,014.00 and last traded at $1,037.40. 11,308,134 shares changed hands during trading, a decline of 23% from the average session volume of 14,725,159 shares. The stock had previously closed at $1,126.52.

Specifically, insider Bernard Shek sold 600 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $1,158.26, for a total transaction of $694,956.00. Following the transaction, the insider owned 24,666 shares in the company, valued at approximately $28,569,641.16. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNDK. Rosenblatt Securities reaffirmed a “buy” rating and issued a $2,400.00 price objective on shares of Sandisk in a research report on Friday, October 30th. Cantor Fitzgerald dropped their price objective on shares of Sandisk from $2,900.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Evercore reaffirmed an “outperform” rating and set a $3,100.00 price objective (up from $1,400.00) on shares of Sandisk in a research note on Thursday, August 13th. Wells Fargo & Company cut their price target on shares of Sandisk from $1,550.00 to $1,300.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. Finally, UBS Group restated an “overweight” rating and set a $1,750.00 target price on shares of Sandisk in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,056.23.

View Our Latest Stock Analysis on SNDK

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

Positive Sentiment: Sandisk’s long-term sales agreements with hyperscalers extend through 2030, supporting revenue visibility. Bullish commentary also argues that AI demand could tighten NAND supply, providing a potential tailwind. Article: Got $5,000? Buy These 2 Growth Stocks Powering the AI Memory Boom
Neutral Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged trading plan, a relatively small reduction in his holdings that offers limited insight into the company’s outlook. Article: Sandisk insider trades
Negative Sentiment: Memory stocks sold off after Democratic victories raised investor concerns about tighter AI regulation in 2027 and the possible effect on data-center investment. SanDisk fell alongside Micron and SK Hynix as investors reconsidered the durability of AI infrastructure spending. Article: Why Sandisk Stock Sank Today
Negative Sentiment: Fox Advisors downgraded Sandisk, adding to pressure on shares already facing concerns about memory-market conditions and expectations after the recent rally. Article: Sandisk Stock Gets Downgrade from Fox Advisors

Sandisk Price Performance

The stock has a market cap of $147.61 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 0.09 and a beta of 5.66. The business has a 50 day moving average price of $1,540.16 and a two-hundred day moving average price of $1,257.96.

Shares of Sandisk are going to split on the morning of Friday, November 20th. The 8-1 split was announced on Thursday, October 29th. The newly created shares will be issued to shareholders after the closing bell on Thursday, November 19th.

Sandisk (NASDAQ:SNDK – Get Free Report) last posted its earnings results on Thursday, October 29th. The data storage provider reported $49.51 earnings per share for the quarter, topping analysts’ consensus estimates of $46.19 by $3.32. The company had revenue of $11.03 billion during the quarter. Sandisk had a net margin of 67.04% and a return on equity of 125.70%. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.22 earnings per share. On average, sell-side analysts forecast that Sandisk Corporation will post 212.95 earnings per share for the current fiscal year.

Sandisk declared that its board has initiated a share repurchase program on Wednesday, August 5th that permits the company to repurchase $14 billion in outstanding shares. This repurchase authorization permits the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Sandisk

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Sandisk in the second quarter worth $23,408,732,000. Situational Awareness LP raised its holdings in shares of Sandisk by 42.4% during the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock valued at $5,673,739,000 after purchasing an additional 743,325 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Sandisk by 71.2% during the 2nd quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock valued at $2,425,811,000 after buying an additional 443,714 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Sandisk by 57.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 726,722 shares of the data storage provider’s stock valued at $1,652,370,000 after acquiring an additional 264,935 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Sandisk during the 2nd quarter valued at about $1,621,353,000.

About Sandisk

(Get Free Report)

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.