683 Capital Management LLC Sells 82,000 Shares of Sandisk Corporation $SNDK

Key Points

• 683 Capital Management cut its Sandisk stake by 77.4% in the fourth quarter, selling 82,000 shares and ending with 24,000 shares valued at about $5.7 million.
• Sandisk continues to draw strong attention from analysts tied to AI-driven memory demand, with multiple firms raising price targets and the stock receiving a consensus Moderate Buy rating.
• Despite bullish fundamentals and a strong earnings beat, the stock has also faced warnings that it may be overbought, with recent reports highlighting a possible near-term pullback after reaching record highs.

683 Capital Management LLC lowered its position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 77.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,000 shares of the data storage provider's stock after selling 82,000 shares during the quarter. 683 Capital Management LLC's holdings in Sandisk were worth $5,697,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Allworth Financial LP raised its holdings 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 worth $1,073,000 after acquiring an additional 2,067 shares during the last quarter. Tredje AP fonden acquired a new stake in shares of Sandisk in the 4th quarter worth about $7,821,000. ProShare Advisors LLC raised its holdings in shares of Sandisk by 1,301.5% in the 4th quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider's stock worth $7,985,000 after acquiring an additional 31,237 shares during the last quarter. FourThought Financial Partners LLC acquired a new stake in shares of Sandisk in the 4th quarter worth about $422,000. Finally, North Dakota State Investment Board acquired a new stake in shares of Sandisk in the 4th quarter worth about $1,127,000.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts and bullish commentators say Sandisk is benefiting from accelerating AI memory demand, especially at the edge, where more AI-enabled devices need local storage. One recent upgrade argues this could support long-term growth and higher valuation. Sandisk: I Was Wrong, Edge AI Changes Everything (Rating Upgrade)
• Positive Sentiment: Another analysis says AI inference workloads could boost NAND demand through enterprise SSDs, supply agreements, and better margins, reinforcing the bull case for Sandisk’s storage cycle. Can AI Inference Workloads Accelerate NAND Demand for Sandisk?
• Neutral Sentiment: Coverage comparing top 2026 S&P 500 performers continues to spotlight Sandisk as a major AI-memory winner, which can keep investor attention high but does not add new company-specific fundamentals. AI Memory Demand Has Turned These 5 S&P 500 Stocks Into Market Leaders
• Negative Sentiment: Carter Worth of Worth Charting warned that the memory-chip trade has gone “too far, too fast” and singled out Sandisk as the “most overbought stock ever,” encouraging traders to trim or hedge positions. Take Profits Now. Famous Chart Technician Says SanDisk is The “Most Overbought Stock Ever”
• Negative Sentiment: Additional articles note Sandisk slipping back after hitting a record high, reinforcing fears of a near-term pullback as investors lock in gains. SanDisk Is ‘the Most Overbought Stock in History,’ Says Polymarket

Sandisk Trading Down 1.6%

SNDK opened at $1,958.80 on Thursday. The company has a 50 day moving average of $1,366.71 and a 200 day moving average of $791.01. The company has a market cap of $290.08 billion, a PE ratio of 68.08 and a beta of 4.87. Sandisk Corporation has a 12 month low of $40.10 and a 12 month high of $2,167.33.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter was up 251.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Research analysts forecast that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNDK has been the topic of a number of analyst reports. Susquehanna upped their target price on shares of Sandisk from $2,000.00 to $3,250.00 and gave the stock a "positive" rating in a report on Friday, May 29th. Morgan Stanley upped their target price on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an "overweight" rating in a report on Wednesday, June 3rd. Bank of America increased their price objective on shares of Sandisk from $1,550.00 to $2,100.00 and gave the company a "buy" rating in a research note on Monday, June 8th. KGI Securities began coverage on shares of Sandisk in a research note on Wednesday, March 18th. They issued an "outperform" rating and a $992.00 price objective for the company. Finally, UBS Group set a $1,700.00 price objective on shares of Sandisk in a research note on Monday, May 4th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Sandisk has a consensus rating of "Moderate Buy" and an average target price of $1,580.67.

Insider Activity at Sandisk

In other news, 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 transaction of $3,488,436.28. Following the sale, the chief accounting officer owned 22,375 shares in the company, valued at approximately $31,910,777.50. This trade represents a 9.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Necip Sayiner sold 579 shares of the firm's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the sale, the director owned 2,900 shares in the company, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 5,625 shares of company stock worth $8,913,497. Corporate insiders own 0.21% of the company's stock.

Sandisk Company 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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