a16z Perennial Management L.P. Takes Position in Sandisk Corporation $SNDK

a16z Perennial Management L.P. purchased a new position in Sandisk Corporation (NASDAQ:SNDK) during the 1st quarter, HoldingsChannel reports. The fund purchased 590 shares of the data storage provider’s stock, valued at approximately $375,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Westpac Banking Corp bought a new position in Sandisk in the 1st quarter worth about $245,000. Himension Capital Singapore PTE. LTD. bought a new stake in shares of Sandisk during the 1st quarter valued at about $43,000. Temasek Holdings Private Ltd bought a new position in shares of Sandisk in the first quarter worth approximately $19,368,000. PNC Financial Services Group Inc. grew its stake in Sandisk by 86.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 30,049 shares of the data storage provider’s stock worth $19,091,000 after buying an additional 13,940 shares in the last quarter. Finally, Wilkerson Advisory Group LLC purchased a new position in Sandisk in the 1st quarter worth approximately $76,000.

Analyst Upgrades and Downgrades

SNDK has been the topic of several research reports. Morgan Stanley raised their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Royal Bank Of Canada increased their target price on Sandisk from $650.00 to $1,000.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Jefferies Financial Group restated a “buy” rating and set a $1,400.00 price target on shares of Sandisk in a research report on Friday, May 1st. Finally, Barclays raised Sandisk from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Sandisk presently has a consensus rating of “Moderate Buy” and an average target price of $1,803.29.

Sandisk Price Performance

Shares of NASDAQ:SNDK opened at $1,589.40 on Wednesday. Sandisk Corporation has a 1 year low of $40.10 and a 1 year high of $2,354.39. The company has a market cap of $235.37 billion, a PE ratio of 55.25 and a beta of 4.74. The stock’s 50-day moving average is $1,745.86 and its 200 day moving average is $1,065.78.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The business had revenue of $5.95 billion during the quarter. During the same quarter last year, the business posted ($0.30) EPS. The company’s quarterly revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts expect that Sandisk Corporation will post 64.52 EPS for the current fiscal year.

Insider Buying and Selling at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the transaction, the executive vice president directly owned 52,677 shares in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael Pokorny sold 2,446 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were 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 of the company’s stock, valued at $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,225 shares of company stock valued at $10,166,297 over the last 90 days. 0.21% of the stock is owned by corporate insiders.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Memory-chip stocks are rebounding broadly, with SanDisk cited as one of the leaders as investors buy the dip following last week’s selloff and a recent memory-stock rout. Article Title
• Positive Sentiment: UBS said the forced selling in AI and semiconductor names may be close to ending, which could allow investors to rebuild positions in the sector and support a rebound in Sandisk shares. Article Title
• Positive Sentiment: Analyst and investor commentary remains constructive, including a Bernstein reiterated bullish stance and Seeking Alpha’s view that Sandisk could be a long-term “Strong Buy” due to stronger margins and AI infrastructure demand. Article Title
• Positive Sentiment: Broader market headlines say the AI trade is regaining momentum, with chip stocks leading the rebound and investors looking past recent geopolitical worries. Article Title

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.