Arrowstreet Capital Limited Partnership Purchases 828,332 Shares of Sandisk Corporation $SNDK

Key Points

• Arrowstreet Capital increased its stake in Sandisk by 31.3% in the fourth quarter, buying 828,332 additional shares and bringing its total holding to 3,478,002 shares worth about $825.6 million.
• Several other large institutional investors also added to or established positions in Sandisk, including Vanguard, State Street, Geode Capital, Morgan Stanley, and Norges Bank, signaling broad hedge fund and asset manager interest in the stock.
• Sandisk has seen strong momentum from both analyst upgrades and earnings strength: Bank of America raised its target to $2,100, the company beat quarterly EPS estimates, and its revenue jumped 251% year over year.

Arrowstreet Capital Limited Partnership grew its position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 31.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,478,002 shares of the data storage provider's stock after buying an additional 828,332 shares during the quarter. Arrowstreet Capital Limited Partnership owned 2.36% of Sandisk worth $825,608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. bought a new position in shares of Sandisk during the 3rd quarter worth approximately $1,970,388,000. State Street Corp lifted its position in shares of Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider's stock worth $1,253,728,000 after buying an additional 904,933 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Sandisk by 44.9% during the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider's stock worth $866,310,000 after buying an additional 1,133,276 shares in the last quarter. Morgan Stanley lifted its position in shares of Sandisk by 7.2% during the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider's stock worth $705,105,000 after buying an additional 199,545 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Sandisk during the 4th quarter worth approximately $518,889,000.

Insider Buying and Selling at Sandisk

In other news, CAO Michael Pokorny sold 2,446 shares of the business's stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bernard Shek sold 600 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the completion of the sale, the insider directly owned 32,232 shares in the company, valued at approximately $55,954,752. This trade represents a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 5,625 shares of company stock worth $8,913,497. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on SNDK. Morgan Stanley lifted their target price on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 3rd. KGI Securities began coverage on shares of Sandisk in a research report on Wednesday, March 18th. They set an "outperform" rating and a $992.00 target price on the stock. Raymond James Financial reissued an "outperform" rating and set a $1,470.00 target price on shares of Sandisk in a research report on Friday, May 1st. UBS Group set a $1,700.00 target price on shares of Sandisk in a research report on Monday, May 4th. Finally, Bank of America lifted their target price on shares of Sandisk from $1,550.00 to $2,100.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,580.67.

Sandisk Stock Up 5.2%

Shares of SNDK stock opened at $1,980.10 on Friday. The company has a 50 day moving average of $1,288.10 and a 200-day moving average of $749.25. Sandisk Corporation has a 12-month low of $40.10 and a 12-month high of $2,021.65. The firm has a market cap of $293.23 billion, a P/E ratio of 68.83 and a beta of 4.87.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its quarterly 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. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company had revenue of $5.95 billion during the quarter. During the same quarter in the previous year, the business earned ($0.30) EPS. The company's revenue for the quarter was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities analysts expect that Sandisk Corporation will post 64.01 EPS for the current year.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America raised its price target on Sandisk to $2,100 and kept a Buy rating, signaling confidence that the AI memory demand trend still has room to run. SanDisk Stock's 5,000% Rally Hasn't Stopped This Analyst: Is $2,100 Next?
• Positive Sentiment: Another analyst update also boosted sentiment, with BofA’s Wamsi Mohan reportedly lifting his target to $2,100 on the view that Sandisk remains well positioned in the memory market. This Analyst Just Upped the Price Target on SanDisk Stock. Here's Why.
• Positive Sentiment: Shares also rose on a broader rebound in memory stocks after SK Hynix’s capacity plan lifted optimism around supply-demand balance in the sector. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix's Capacity Plan
• Positive Sentiment: Market commentary continues to frame SNDK as an AI growth winner, with traders and analysts highlighting strong memory demand and expanding AI infrastructure exposure. SanDisk Stock (SNDK) Is Up 692% YTD. AI Analyst Raises Price Target and Still Sees More Upside Ahead
• Neutral Sentiment: Some media coverage is focused mainly on the stock’s extraordinary year-to-date surge and valuation, which may keep investor attention high but does not add a new operational catalyst. SanDisk skyrockets over 692% YTD, yet SNDK stock still appears reasonably valued

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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