Bernard Shek Sells 600 Shares of Sandisk (NASDAQ:SNDK) Stock

Key Points

• Insider sale: Bernard Shek sold 600 shares of Sandisk on July 1 at an average price of $2,088, totaling about $1.25 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still owned 31,515 shares afterward.
• Stock weakness: Sandisk shares fell 14.1% in the session described, trading at $1,745 with elevated volume. Even after the drop, the stock remained far above its 50-day and 200-day moving averages.
• Strong fundamentals and upbeat analyst sentiment: The company recently beat earnings expectations with $23.41 EPS and $5.95 billion in revenue, and several analysts have raised price targets. Overall, Wall Street consensus remains Moderate Buy on SNDK.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report) insider Bernard Shek sold 600 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $65,803,320. This represents a 1.87% decrease in their ownership of the stock. The sale 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.

Bernard Shek also recently made the following trade(s):

• On Wednesday, June 3rd, Bernard Shek sold 600 shares of Sandisk stock. The shares were sold at an average price of $1,736.00, for a total transaction of $1,041,600.00.

Sandisk Stock Down 14.1%

Shares of NASDAQ SNDK traded down $287.22 during mid-day trading on Thursday, hitting $1,745.00. 17,248,106 shares of the company were exchanged, compared to its average volume of 16,639,072. The stock has a 50 day simple moving average of $1,618.07 and a 200-day simple moving average of $925.59. Sandisk Corporation has a 1-year low of $40.10 and a 1-year high of $2,354.39. The firm has a market cap of $258.42 billion, a price-to-earnings ratio of 60.65 and a beta of 4.72.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued 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. The company 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%. Sandisk's revenue for the quarter was up 251.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts anticipate that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandisk

A number of institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. bought a new stake in shares of Sandisk in the 2nd quarter worth about $317,000. Merit Financial Group LLC acquired a new position in Sandisk in the third quarter worth about $408,000. MAI Capital Management acquired a new position in Sandisk in the third quarter worth about $181,000. US Bancorp DE bought a new stake in Sandisk in the third quarter valued at about $922,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Sandisk during the third quarter valued at approximately $27,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SNDK shares. Susquehanna upped their price objective on shares of Sandisk from $2,000.00 to $3,250.00 and gave the company a "positive" rating in a research note on Friday, May 29th. Melius Research set a $2,350.00 target price on shares of Sandisk in a report on Monday, May 18th. Jefferies Financial Group reaffirmed a "buy" rating and set a $1,400.00 price target on shares of Sandisk in a research report on Friday, May 1st. Sanford C. Bernstein boosted their price objective on shares of Sandisk from $1,700.00 to $3,000.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Wells Fargo & Company increased their target price on 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 analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Sandisk has a consensus rating of "Moderate Buy" and a consensus target price of $1,684.24.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: China Renaissance reportedly raised its price target on Sandisk, reinforcing the bull case that AI storage demand remains strong and the company still has substantial upside. Analyst Hikes SanDisk Stock (SNDK) Price Target by 86% on Strong AI Storage Demand
• Positive Sentiment: Bank of America raised its price target to $2,500 and kept a buy rating, saying NAND supply constraints and strong pricing could support results through 2027. SanDisk’s Stock Supercycle Just Got Another Boost: BofA Raises Price Tag to $2,500
• Positive Sentiment: Analysts continue to highlight Sandisk’s QLC SSD and broader memory portfolio as a way to capture AI-driven data-center storage growth. Can Sandisk's QLC SSD Portfolio Drive Sustainable Growth Ahead?
• Neutral Sentiment: Commentary from 24/7 Wall St. and MarketBeat framed Sandisk as a major AI infrastructure beneficiary, but also noted the stock’s volatility and sensitivity to sector rotation. Palantir vs. SanDisk: Two Paths to AI Riches, One Winner
• Neutral Sentiment: Investors are debating whether the recent pullback is just a broader tech rotation or the start of a more durable reset in memory stocks. Why Micron (MU) and SanDisk (SNDK) Stocks Are Falling in Pre-Market Today
• Negative Sentiment: Memory and storage stocks sold off broadly on Thursday amid profit-taking and fears of a supply glut, pressuring Sandisk along with peers like Micron, Seagate, and Western Digital. SanDisk Sinks 11%, Seagate Falls 7%, Micron Slides 4% on Memory Supply-Glut Fears

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.

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