DNB Asset Management AS Cuts Stock Position in Sandisk Corporation $SNDK

Key Points

• DNB Asset Management AS cut its Sandisk stake by 97.7% in the fourth quarter, selling 822,868 shares and ending with 19,736 shares worth about $4.7 million.
• Sandisk recently posted strong quarterly results, with earnings of $23.41 per share beating estimates and revenue jumping 251% year over year to $5.95 billion.
• Wall Street remains broadly bullish: several firms raised price targets, including Citi to $2,025, while Sandisk’s stock has also seen some pressure from profit-taking and broader semiconductor-sector caution.

DNB Asset Management AS lessened its position in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 97.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,736 shares of the data storage provider's stock after selling 822,868 shares during the quarter. DNB Asset Management AS's holdings in Sandisk were worth $4,685,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SNDK. Vanguard Group Inc. purchased a new stake in shares of Sandisk in the 3rd quarter valued at $1,970,388,000. State Street Corp acquired a new position in Sandisk during the 3rd quarter worth $491,053,000. Arrowstreet Capital Limited Partnership acquired a new position in Sandisk during the 3rd quarter worth $297,293,000. Bank of America Corp DE acquired a new position in Sandisk during the 3rd quarter worth $190,425,000. Finally, AQR Capital Management LLC acquired a new position in Sandisk during the 3rd quarter worth $163,057,000.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Citi sharply raised its price target on Sandisk to $2,025 from $1,300 and kept a Buy rating, citing accelerating NAND demand tied to AI infrastructure and hyperscale data center expansion. The upgrade reinforced the view that Sandisk still has meaningful upside after its huge run. Sandisk Stock Can Rise Another 52%, Says Citi. Why Investors Should Buy.
• Positive Sentiment: Melius Research also boosted its target, calling for $2,350, which added to the bullish analyst momentum around Sandisk and the AI memory trade. Wall Street sets Sandisk stock price target for the next 12 months
• Positive Sentiment: Recent commentary highlighted Sandisk’s strong fundamentals, including surging revenue, margin expansion, and AI-driven storage demand, which continues to support the long-term bull case for the stock. Micron (MU) and SanDisk (SNDK) – Why a Top Analyst Boosted Price Targets on These AI Stocks
• Neutral Sentiment: Sandisk is also benefiting from the broader narrative that AI is shifting demand from compute to storage, with investors increasingly treating NAND flash as a key bottleneck in AI infrastructure rather than a commodity product.
• Negative Sentiment: Despite the bullish analyst action, Sandisk has been slipping at times along with the wider chip sector as rising bond yields and general tech-sector caution pressure high-beta semiconductor stocks. Micron, SanDisk Stocks Meet The Bond Time Bomb: 30-Year Yields Hit 19-Year Highs
• Negative Sentiment: Some investors are also taking profits after Sandisk’s massive year-long rally, leading to short-term cooling and fears that the stock’s near-term upside may be more limited after such a dramatic run.

Sandisk Stock Performance

Sandisk stock opened at $1,383.29 on Wednesday. Sandisk Corporation has a fifty-two week low of $35.79 and a fifty-two week high of $1,600.00. The company has a market capitalization of $204.85 billion, a P/E ratio of 48.08 and a beta of 4.82. The stock has a 50-day simple moving average of $931.59 and a 200-day simple moving average of $572.16.

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 for the quarter, beating the consensus estimate of $14.17 by $9.24. The business had revenue of $5.95 billion during the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The firm's revenue for the quarter was up 251.0% on a year-over-year basis. During the same period in the previous 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, analysts forecast that Sandisk Corporation will post 63.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on SNDK. Citigroup boosted their target price on Sandisk from $1,300.00 to $2,025.00 and gave the stock a "buy" rating in a research note on Tuesday. Morgan Stanley reissued an "overweight" rating and set a $1,100.00 target price on shares of Sandisk in a research note on Monday, April 27th. Mizuho set a $1,220.00 target price on Sandisk in a research note on Friday, May 1st. Jefferies Financial Group reissued a "buy" rating and set a $1,400.00 target price on shares of Sandisk in a research note on Friday, May 1st. Finally, UBS Group set a $1,700.00 target price on Sandisk in a research note on Monday, May 4th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Sandisk currently has an average rating of "Moderate Buy" and an average target price of $1,157.14.

Insider Buying and Selling at Sandisk

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the completion of the sale, the director directly owned 9,907 shares of the company's stock, valued at $6,216,939.71. This represents a 26.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Necip Sayiner sold 579 shares of the company's 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 value of $870,300.69. Following the sale, the director directly owned 2,900 shares of the company's stock, valued at approximately $4,359,019. This represents a 16.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,525 shares of company stock valued at $6,555,092 in the last ninety days. 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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