Essex Financial Services Inc. Invests $288,000 in Sandisk Corporation $SNDK

Essex Financial Services Inc. acquired a new stake in Sandisk Corporation (NASDAQ:SNDK) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 454 shares of the data storage provider’s stock, valued at approximately $288,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Roble Belko & Company Inc acquired a new stake in Sandisk during the first quarter worth approximately $39,000. First United Bank & Trust acquired a new position in Sandisk in the first quarter valued at approximately $54,000. Greenline Wealth Management LLC acquired a new position in Sandisk in the fourth quarter valued at approximately $26,000. Whittier Trust Co. bought a new position in shares of Sandisk during the 4th quarter worth approximately $26,000. Finally, Chung Wu Investment Group LLC bought a new position in shares of Sandisk during the 4th quarter worth approximately $27,000.

Wall Street Analysts Forecast Growth

SNDK has been the subject of several research analyst reports. Zacks Research lowered shares of Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Sanford C. Bernstein boosted their target price on shares of Sandisk from $1,700.00 to $3,000.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Jefferies Financial Group reissued a “buy” rating and set a $1,400.00 target price on shares of Sandisk in a research note on Friday, May 1st. Melius Research set a $2,350.00 price target on shares of Sandisk in a report on Monday, May 18th. Finally, Evercore reaffirmed an “outperform” rating and issued a $1,400.00 price target on shares of Sandisk in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Sandisk has an average rating of “Moderate Buy” and a consensus price target of $1,684.24.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk announced it has started production of its 10th-generation 3D flash memory with Kioxia at the Kitakami plant, and separately said it is sampling BiCS10 1Tb TLC 3D NAND. Both updates point to higher density, better power efficiency, and more capacity for data-center and AI workloads. Article Title Article Title
• Positive Sentiment: Analysts remained constructive on Sandisk, with China Renaissance lifting its price target sharply on strong AI storage demand and Bank of America raising its target to $2,500 while keeping a buy rating. Article Title
• Positive Sentiment: Commentary from several outlets says the recent selloff may be a pullback after a huge first-half rally, with some investors viewing the weakness as a buying opportunity rather than a change in the underlying growth thesis. Article Title
• Neutral Sentiment: MarketBeat’s week-in-review noted Sandisk as a poster child for tech-sector volatility, reflecting how much the stock can swing on sector rotation and sentiment shifts. Article Title
• Negative Sentiment: Sandisk shares have been hit by a broader selloff in AI chip and memory stocks as investors rotate toward AI software, and some reports also cite profit-taking and memory supply-glut fears. Article Title Article Title
• Negative Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged 10b5-1 plan, a routine filing but still a mild caution flag for sentiment. Article Title

Insider Buying and Selling at Sandisk

In other news, insider Bernard Shek sold 600 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the completion of the sale, the insider directly owned 31,515 shares of the company’s stock, valued at $65,803,320. The trade was a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michael Pokorny sold 2,446 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was 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 in the company, valued at $31,910,777.50. This represents a 9.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,225 shares of company stock valued at $10,166,297 over the last ninety days. 0.21% of the stock is currently owned by corporate insiders.

Sandisk Price Performance

Shares of NASDAQ:SNDK opened at $1,745.00 on Monday. Sandisk Corporation has a twelve month low of $40.10 and a twelve month high of $2,354.39. The stock’s 50 day moving average is $1,650.22 and its 200-day moving average is $947.30. The firm has a market capitalization of $258.42 billion, a price-to-earnings ratio of 60.65 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.17 by $9.24. The business had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business’s revenue for the quarter was up 251.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities research analysts anticipate that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

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.