SG Americas Securities LLC boosted its position in Sandisk Corporation (NASDAQ:SNDK – Free Report) by 108.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 944,503 shares of the data storage provider’s stock after buying an additional 491,359 shares during the period. Sandisk comprises about 0.6% of SG Americas Securities LLC’s portfolio, making the stock its 20th biggest holding. SG Americas Securities LLC’s holdings in Sandisk were worth $600,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNDK. Smith Salley Wealth Management bought a new position in Sandisk during the 1st quarter worth $212,000. Quotient Wealth Partners LLC bought a new stake in shares of Sandisk in the first quarter valued at about $317,000. Polianta Ltd bought a new stake in shares of Sandisk in the first quarter valued at about $1,334,000. Diversified Trust Co acquired a new position in shares of Sandisk in the first quarter valued at about $1,297,000. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of Sandisk in the first quarter valued at about $346,000.
Sandisk Price Performance
SNDK stock opened at $2,184.75 on Monday. The company has a market cap of $323.54 billion, a PE ratio of 75.94 and a beta of 4.88. The business has a 50-day simple moving average of $1,424.27 and a 200 day simple moving average of $818.73. Sandisk Corporation has a 52 week low of $40.10 and a 52 week high of $2,191.69.
Insider Activity
In other news, CAO Michael Pokorny sold 2,446 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the sale, the chief accounting officer owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bernard Shek sold 600 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the sale, the insider owned 32,232 shares in the company, valued at $55,954,752. This represents a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 5,625 shares of company stock worth $8,913,497. Insiders own 0.21% of the company’s stock.
Wall Street Analyst Weigh In
SNDK has been the subject of several analyst reports. Susquehanna lifted their price objective on shares of Sandisk from $2,000.00 to $3,250.00 and gave the stock a “positive” rating in a research note on Friday, May 29th. Jefferies Financial Group restated a “buy” rating and set a $1,400.00 target price on shares of Sandisk in a research report on Friday, May 1st. Royal Bank Of Canada raised their target price on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Melius Research set a $2,350.00 price target on shares of Sandisk in a research report on Monday, May 18th. Finally, Wells Fargo & Company boosted their price target on Sandisk from $975.00 to $1,250.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,580.67.
Get Our Latest Research Report on Sandisk
Trending Headlines about Sandisk
Here are the key news stories impacting Sandisk this week:
- Positive Sentiment: Apple CEO Tim Cook’s comments about a severe memory shortage and unavoidable price hikes have strengthened the bullish case for memory-chip makers, reinforcing pricing power for SanDisk and helping lift the stock. Why Is SanDisk Stock Surging On Thursday?
- Positive Sentiment: New coverage said SanDisk may have more upside than Micron because AI-driven memory demand, strong pricing power, and rising data-center sales are still fueling growth momentum. Micron Gets the Headlines, But Sandisk Could Offer More Upside
- Positive Sentiment: Analysts continue to highlight SanDisk’s AI opportunity, with fresh commentary pointing to stronger earnings potential, estimate revisions, and long-term demand tied to AI infrastructure. Wall Street Sees More Upside for SanDisk Corporation (SNDK)’s AI Opportunity
- Neutral Sentiment: Articles focusing on SanDisk’s open-source SPRandom technology and faster SSD qualification suggest the company is trying to remove data-center bottlenecks, which could support adoption but is more of a long-term operational improvement than an immediate catalyst. How SanDisk (SNDK) Is Tackling AI Storage Bottlenecks With Faster SSD Qualification
- Negative Sentiment: Despite the rally, one market note warned that SanDisk may be overextended, with a price target implying downside after its extraordinary year-to-date gain, which could encourage profit-taking. Up 700% YTD, How High Can SanDisk Rally?
- Negative Sentiment: Commentary about an RSI near record levels and broader AI bubble fears suggests some traders are becoming wary that SanDisk’s valuation has run too far too fast. SanDisk RSI Hits Record 99, Fueling AI Bubble Fears Across Markets
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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