60,000 Shares in Sandisk Corporation $SNDK Acquired by Southpoint Capital Advisors LP

Key Points

• Southpoint Capital Advisors acquired 60,000 Sandisk shares during the first quarter, valued at approximately $38.1 million. Several other hedge funds also increased or initiated positions.
• Sandisk reported quarterly EPS of $23.41, exceeding the $14.17 consensus estimate, while revenue rose 251% year over year to $5.95 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,811.38.
• Sandisk opened at $1,278.23, compared with a 52-week high of $2,354.39. Company insiders sold 6,225 shares worth about $10.2 million over the past 90 days.

Southpoint Capital Advisors LP purchased a new stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 60,000 shares of the data storage provider's stock, valued at approximately $38,120,000.

Other hedge funds have also recently bought and sold shares of the company. GHP Investment Advisors Inc. boosted its stake in shares of Sandisk by 12.0% in the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider's stock valued at $77,000 after purchasing an additional 13 shares in the last quarter. Blair William & Co. IL increased its position in shares of Sandisk by 0.3% during the 4th quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider's stock worth $1,255,000 after purchasing an additional 17 shares in the last quarter. Empirical Finance LLC increased its position in shares of Sandisk by 0.7% during the 1st quarter. Empirical Finance LLC now owns 3,535 shares of the data storage provider's stock worth $2,246,000 after purchasing an additional 24 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Sandisk by 20.2% during the 4th quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider's stock valued at $52,000 after purchasing an additional 37 shares during the last quarter. Finally, Valley Wealth Managers Inc. bought a new position in Sandisk during the 1st quarter valued at about $25,000.

Sandisk Price Performance

SNDK opened at $1,278.23 on Tuesday. The company has a market cap of $189.29 billion, a price-to-earnings ratio of 44.43 and a beta of 4.74. The firm has a 50 day simple moving average of $1,752.94 and a 200 day simple moving average of $1,099.50. Sandisk Corporation has a fifty-two week low of $40.10 and a fifty-two week high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its quarterly earnings data 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 net margin of 34.19% and a return on equity of 44.06%. The firm had revenue of $5.95 billion for the quarter. During the same period in the previous year, the business posted ($0.30) earnings per share. Sandisk's 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. As a group, analysts expect that Sandisk Corporation will post 64.52 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Evercore set a $3,100.00 price objective on shares of Sandisk in a research note on Monday, July 13th. Zacks Research cut shares of Sandisk from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Melius Research set a $2,350.00 target price on Sandisk in a report on Monday, May 18th. UBS Group set a $1,700.00 price target on Sandisk in a research report on Monday, May 4th. Finally, Mizuho raised their price target on Sandisk from $1,825.00 to $2,200.00 and gave the company an "outperform" rating in a report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Sandisk currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,811.38.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Strong memory demand, constrained supply, and continued AI infrastructure spending remain supportive of SanDisk’s long-term earnings outlook. Analysts expect the company to benefit from the memory boom, while its upcoming August 5 earnings report could provide another catalyst if SanDisk delivers the kind of earnings beats and guidance increases it has posted recently. Micron vs. Sandisk: Which Stock Is the Better Buy for the Memory Boom?
• Positive Sentiment: Research cited in the coverage suggests Chinese manufacturers are advancing in NAND and DRAM but remain behind leading companies in high-bandwidth memory, leaving portions of the AI memory market less immediately exposed. China Is Coming For SanDisk—But Not Yet For Micron’s Memory Crown

Insider Buying and Selling

In related news, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the sale, the chief accounting officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alper Ilkbahar sold 2,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the sale, the executive vice president owned 52,677 shares of the company's stock, valued at $92,531,364.66. This represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,225 shares of company stock valued at $10,166,297 over the last 90 days. Company insiders own 0.21% of the company's stock.

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.

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