CI Investments Inc. Sells 27,059 Shares of Sandisk Corporation $SNDK

Key Points

• CI Investments Inc. sharply reduced its SanDisk position in the first quarter, selling 27,059 shares and cutting its stake by 97.1% to just 798 shares worth about $507,000.
• SanDisk is still drawing strong attention from analysts, with several firms lifting price targets and the stock carrying a Moderate Buy consensus rating and average target of $1,811.38.
• The company recently posted a major earnings beat, reporting $23.41 EPS on $5.95 billion in revenue, while investors now await fiscal Q4 earnings and a potentially large post-report price swing.

CI Investments Inc. decreased its stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 97.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 798 shares of the data storage provider's stock after selling 27,059 shares during the quarter. CI Investments Inc.'s holdings in Sandisk were worth $507,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Osaic Holdings Inc. bought a new stake in Sandisk in the second quarter worth $317,000. Merit Financial Group LLC purchased a new position in Sandisk during the third quarter worth $408,000. Dimensional Fund Advisors LP bought a new position in Sandisk during the third quarter valued at $100,080,000. First Trust Advisors LP bought a new position in Sandisk during the third quarter valued at $9,788,000. Finally, Blair William & Co. IL purchased a new stake in shares of Sandisk in the third quarter valued at $591,000.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk remains a major AI-storage beneficiary, with multiple recent articles highlighting strong demand for memory and enterprise storage tied to AI infrastructure spending and tight supply. Article Title
• Positive Sentiment: Analysts and traders are still focused on SanDisk’s upcoming fiscal Q4 earnings on August 5, with expectations for a large move and a chance for another earnings beat after a strong surprise history. Article Title
• Neutral Sentiment: New ETF products are being launched to trade the DRAM and memory rally, underscoring strong investor interest in the group, though this is more a sentiment signal than a direct catalyst for SanDisk. Article Title
• Neutral Sentiment: Options traders are pricing in a sizable post-earnings swing, reflecting elevated expectations and uncertainty heading into the report. Article Title
• Negative Sentiment: Memory and chip stocks are under pressure today, and SanDisk is being dragged lower by a sector-wide risk-off move after recent gains in AI-related semiconductors. Article Title
• Negative Sentiment: SanDisk has also pulled back sharply from recent highs, and some coverage now frames the move as a correction after an extended AI-driven rally. Article Title

Analysts Set New Price Targets

SNDK has been the subject of several analyst reports. Morgan Stanley raised 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. Mizuho upped their price target on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an "outperform" rating in a report on Monday, June 8th. Raymond James Financial reissued an "outperform" rating and issued a $1,470.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Evercore set a $3,100.00 price objective on shares of Sandisk in a research note on Monday, July 13th. Finally, Cantor Fitzgerald boosted their target price on Sandisk from $1,800.00 to $2,900.00 and gave the company an "overweight" rating in a research report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six 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 target price of $1,811.38.

Insider Activity at Sandisk

In other news, EVP Alper Ilkbahar sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the transaction, the executive vice president directly owned 52,677 shares of the company's stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred 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 directly owned 2,900 shares of the company's stock, valued at $4,359,019. This represents a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,225 shares of company stock valued at $10,166,297 in the last quarter. Corporate insiders own 0.21% of the company's stock.

Sandisk Trading Down 10.8%

NASDAQ:SNDK opened at $1,436.56 on Friday. Sandisk Corporation has a twelve month low of $40.10 and a twelve month high of $2,354.39. The company has a market cap of $212.74 billion, a price-to-earnings ratio of 49.93 and a beta of 4.74. The stock has a fifty day simple moving average of $1,754.03 and a 200-day simple moving average of $1,087.24.

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 (EPS) for the quarter, beating analysts' consensus estimates of $14.17 by $9.24. The firm had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm's revenue for the quarter was up 251.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities research analysts predict that Sandisk Corporation will post 64.52 EPS for the current fiscal year.

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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