Catalina Capital Group LLC Purchases Shares of 387 Sandisk Corporation $SNDK

Catalina Capital Group LLC purchased a new stake in Sandisk Corporation (NASDAQ:SNDK) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 387 shares of the data storage provider’s stock, valued at approximately $246,000.

Other hedge funds have also modified their holdings of the company. State Street Corp grew its holdings in Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after buying an additional 904,933 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Sandisk by 44.9% in the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after acquiring an additional 1,133,276 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after acquiring an additional 828,332 shares during the last quarter. Morgan Stanley lifted its position in shares of Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after acquiring an additional 199,545 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Sandisk during the fourth quarter valued at $518,889,000.

Sandisk Price Performance

Sandisk stock opened at $2,050.39 on Tuesday. Sandisk Corporation has a 12 month low of $40.10 and a 12 month high of $2,354.39. The stock’s 50-day moving average is $1,568.63 and its 200-day moving average is $898.61. The company has a market cap of $303.64 billion, a price-to-earnings ratio of 71.27 and a beta of 4.88.

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

Insider Buying and Selling

In other news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the sale, the director directly owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bernard Shek sold 600 shares of Sandisk 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 value 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,625 shares of company stock worth $8,913,497 over the last three months. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SNDK has been the subject of a number of recent research reports. Mizuho lifted their price objective on Sandisk from $1,825.00 to $2,200.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Wedbush raised their price target on shares of Sandisk from $740.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada lifted their price target 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. Jefferies Financial Group reissued a “buy” rating and issued a $1,400.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Finally, Wells Fargo & Company raised their target price on shares of Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Sandisk presently has a consensus rating of “Moderate Buy” and an average price target of $1,665.19.

Sandisk 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.