PNC Financial Services Group Inc. Raises Stake in Sandisk Corporation $SNDK

PNC Financial Services Group Inc. raised its stake in Sandisk Corporation (NASDAQ:SNDK) by 82.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,109 shares of the data storage provider’s stock after buying an additional 7,291 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sandisk were worth $3,824,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new stake in Sandisk in the 4th quarter valued at $26,000. Chung Wu Investment Group LLC purchased a new stake in Sandisk in the 4th quarter valued at $27,000. Westfuller Advisors LLC lifted its stake in shares of Sandisk by 51.8% in the 4th quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 43 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Sandisk by 137.9% in the 4th quarter. TD Private Client Wealth LLC now owns 138 shares of the data storage provider’s stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. Finally, Torren Management LLC acquired a new position in shares of Sandisk in the 4th quarter valued at $37,000.

Insider Activity

In other news, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the transaction, the chief accounting officer owned 22,375 shares in the company, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Miyuki Suzuki sold 3,500 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the transaction, the director owned 9,907 shares in the company, valued at approximately $6,216,939.71. The trade was a 26.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,525 shares of company stock worth $6,555,092. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

SNDK has been the topic of several recent analyst reports. Wall Street Zen raised Sandisk from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,200.00 price target on shares of Sandisk in a research note on Friday, May 1st. Morgan Stanley reissued an “overweight” rating and set a $1,100.00 target price on shares of Sandisk in a research note on Monday, April 27th. Cantor Fitzgerald increased their target price on Sandisk from $1,400.00 to $1,800.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Melius Research set a $2,350.00 target price on Sandisk in a research note on Monday, May 18th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Sandisk presently has a consensus rating of “Moderate Buy” and an average target price of $1,157.14.

Sandisk Price Performance

SNDK stock opened at $1,478.69 on Tuesday. The firm has a market capitalization of $218.98 billion, a P/E ratio of 51.40 and a beta of 4.82. The business’s 50-day moving average is $999.79 and its two-hundred day moving average is $608.04. Sandisk Corporation has a 1 year low of $35.79 and a 1 year high of $1,600.00.

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 analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The company had revenue of $5.95 billion for the quarter. During the same period in the prior year, the business earned ($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 expect that Sandisk Corporation will post 63.58 EPS for the current year.

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.