Castle Hook Partners LP Lowers Stock Position in Sandisk Corporation $SNDK

Key Points

• Castle Hook Partners LP cut its Sandisk stake by 78.7% in the fourth quarter, selling 26,562 shares and ending with 7,208 shares valued at about $1.71 million.
• Several other institutional investors adjusted positions in Sandisk during the period, with some adding shares while others initiated new stakes, signaling continued hedge fund interest in the stock.
• Despite some insider selling, Sandisk has drawn strong analyst support and AI-memory optimism, with multiple firms raising price targets and the consensus rating remaining Moderate Buy; however, some market commentary warns the stock may be overbought after a sharp run-up.

Castle Hook Partners LP lowered its position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 78.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,208 shares of the data storage provider's stock after selling 26,562 shares during the quarter. Castle Hook Partners LP's holdings in Sandisk were worth $1,711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. ClearAlpha Technologies LP purchased a new position in Sandisk during the fourth quarter valued at $213,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in Sandisk by 56.4% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,025 shares of the data storage provider's stock valued at $2,387,000 after buying an additional 3,614 shares during the period. Armistice Capital LLC purchased a new position in Sandisk during the fourth quarter valued at $237,000. ACT Capital Management LLC purchased a new position in Sandisk during the fourth quarter valued at $831,000. Finally, Guggenheim Capital LLC lifted its position in Sandisk by 67.3% during the fourth quarter. Guggenheim Capital LLC now owns 10,419 shares of the data storage provider's stock valued at $2,473,000 after buying an additional 4,190 shares during the period.

Trending Headlines about Sandisk

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

Analyst Upgrades and Downgrades

Several brokerages have commented on SNDK. Evercore reissued an "outperform" rating and set a $1,400.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Melius Research set a $2,350.00 price target on Sandisk in a research report on Monday, May 18th. Morgan Stanley lifted their price target on Sandisk from $1,100.00 to $1,750.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 3rd. Mizuho lifted their price target on Sandisk from $1,825.00 to $2,200.00 and gave the stock an "outperform" rating in a research report on Monday, June 8th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,200.00 price target on shares of Sandisk in a research report on Friday, May 1st. Three investment 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,580.67.

Insiders Place Their Bets

In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the completion of the transaction, the chief accounting officer owned 22,375 shares of the company's stock, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Necip Sayiner sold 579 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the transaction, the director directly owned 2,900 shares of the company's stock, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,625 shares of company stock worth $8,913,497 in the last 90 days. Corporate insiders own 0.21% of the company's stock.

Sandisk Stock Performance

Shares of NASDAQ:SNDK opened at $1,958.80 on Thursday. Sandisk Corporation has a fifty-two week low of $40.10 and a fifty-two week high of $2,167.33. The business has a 50-day simple moving average of $1,366.71 and a two-hundred day simple moving average of $791.01. The firm has a market cap of $290.08 billion, a price-to-earnings ratio of 68.08 and a beta of 4.87.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts' consensus estimates 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 period last year, the firm posted ($0.30) EPS. Sandisk'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. As a group, research analysts predict that Sandisk Corporation will post 64.01 earnings per share for the current year.

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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