Sandisk Corporation $SNDK Shares Sold by AXQ Capital LP

AXQ Capital LP lowered its holdings in Sandisk Corporation (NASDAQ:SNDK) by 58.1% in the fourth quarter, HoldingsChannel reports. The firm owned 2,745 shares of the data storage provider’s stock after selling 3,810 shares during the period. AXQ Capital LP’s holdings in Sandisk were worth $652,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Allworth Financial LP raised its position in shares of Sandisk by 84.2% in the 4th quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock valued at $1,073,000 after purchasing an additional 2,067 shares in the last quarter. Tredje AP fonden acquired a new stake in shares of Sandisk during the fourth quarter worth approximately $7,821,000. ProShare Advisors LLC increased its stake in shares of Sandisk by 1,301.5% in the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock worth $7,985,000 after buying an additional 31,237 shares during the last quarter. FourThought Financial Partners LLC acquired a new stake in Sandisk in the fourth quarter valued at $422,000. Finally, North Dakota State Investment Board acquired a new stake in Sandisk in the fourth quarter valued at $1,127,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Weiss Ratings raised Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 20th. Wells Fargo & Company raised their price objective on Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,400.00 price objective on shares of Sandisk in a report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $1,398.27.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts at Morgan Stanley said the memory-stock rally may not be over, citing strong AI demand and rising memory prices as reasons Sandisk could see further upside. Morgan Stanley says there is no quick fix to memory shortage
• Positive Sentiment: Several articles highlighted Sandisk as a favorite in the AI-memory trade, with commentators arguing the company is still benefiting from a powerful supply-demand mismatch and strong trader interest. Traders are flocking to Sandisk
• Positive Sentiment: A new article said Sandisk stock is soaring to another all-time high, reinforcing the momentum-driven bullish sentiment around the shares. Why SanDisk Stock Is Soaring to a New All-Time High Today
• Positive Sentiment: Zacks said industry momentum in cloud, IoT, auto, and AI should support storage-device names like Sandisk, adding another constructive fundamental backdrop. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Neutral Sentiment: Sandisk EVP Alper Ilkbahar sold 2,000 shares for about $3.5 million. The sale is worth noting, but it appears relatively modest versus his remaining stake and may not signal a major change in outlook. SEC filing
• Negative Sentiment: One report flagged Sandisk’s stock and short interest at record highs, suggesting the rally is crowded and could become more volatile if sentiment cools. SanDisk’s stock and short interest both at record highs – do the bears know something?

Insider Transactions at Sandisk

In related news, Director Necip Sayiner sold 579 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the sale, the director directly owned 2,900 shares in the company, valued at $4,359,019. This trade represents a 16.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the transaction, the executive vice president owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This trade represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 5,025 shares of company stock worth $7,871,897. Company insiders own 0.21% of the company’s stock.

Sandisk Stock Up 6.7%

SNDK stock opened at $1,831.50 on Thursday. The stock has a market cap of $271.23 billion, a PE ratio of 63.66 and a beta of 4.87. The firm’s 50-day simple moving average is $1,135.85 and its 200 day simple moving average is $679.14. Sandisk Corporation has a fifty-two week low of $37.33 and a fifty-two week high of $1,861.00.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping the consensus estimate of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm had revenue of $5.95 billion during the quarter. During the same quarter last year, the company posted ($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. Equities analysts forecast that Sandisk Corporation will post 63.58 EPS 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.