Geode Capital Management LLC Acquires 1,133,276 Shares of Sandisk Corporation $SNDK

Key Points

• Geode Capital Management increased its SanDisk stake by 44.9% in the fourth quarter, buying 1,133,276 additional shares and bringing its total holdings to 3,655,860 shares worth about $866.3 million.
• SanDisk reported a huge earnings beat for the quarter, posting $23.41 EPS versus the $14.17 consensus estimate, with revenue up 251% year over year to $5.95 billion.
• Analysts remain broadly bullish: several firms raised price targets, and the stock has a Buy consensus rating with a MarketBeat consensus target of $1,368.73, even as some insiders recently sold shares.

Geode Capital Management LLC increased its holdings in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 44.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,655,860 shares of the data storage provider's stock after buying an additional 1,133,276 shares during the period. Geode Capital Management LLC owned about 2.48% of Sandisk worth $866,310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SNDK. Whittier Trust Co. bought a new position in Sandisk in the fourth quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Sandisk during the third quarter valued at about $27,000. Chung Wu Investment Group LLC bought a new stake in Sandisk during the fourth quarter valued at about $27,000. Westfuller Advisors LLC boosted its position in Sandisk by 51.8% during the fourth quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider's stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. Finally, Parallel Advisors LLC bought a new stake in Sandisk during the third quarter valued at about $30,000.

Sandisk Trading Up 3.2%

Shares of Sandisk stock opened at $1,694.98 on Friday. Sandisk Corporation has a 12-month low of $36.21 and a 12-month high of $1,708.83. The firm has a market capitalization of $251.01 billion, a price-to-earnings ratio of 58.91 and a beta of 4.82. The firm's 50 day simple moving average is $1,073.33 and its two-hundred day simple moving average is $644.72.

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, beating analysts' consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion for the quarter. During the same quarter in the previous year, the company posted ($0.30) EPS. The company's revenue for the quarter was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, sell-side analysts predict that Sandisk Corporation will post 63.58 EPS for the current fiscal year.

Insider Activity

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 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. The trade was a 9.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Necip Sayiner sold 579 shares of the business's stock in a transaction dated 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 owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Susquehanna raised its price target on Sandisk to $3,250 from $2,000 and reiterated a positive view, reinforcing the bullish case that the stock still has substantial upside. Article Title
• Positive Sentiment: Mizuho also lifted its target on SNDK and kept an outperform rating, adding to the broader analyst momentum behind the shares. Article Title
• Positive Sentiment: Investors are betting that Sandisk’s QLC Stargate product could become a new revenue growth driver, with shipments targeted for Q4 FY26 to meet AI data-center storage demand beyond traditional SSD products. Article Title
• Positive Sentiment: Market commentary continues to frame Sandisk as a prime beneficiary of the AI infrastructure boom, especially because agentic AI and other workloads require far more memory capacity, tightening supply and supporting pricing power. Article Title

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNDK. Wells Fargo & Company raised their price objective on Sandisk from $975.00 to $1,250.00 and gave the company an "equal weight" rating in a research report on Friday, May 1st. Cantor Fitzgerald raised their price objective on Sandisk from $1,400.00 to $1,800.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Wedbush increased their target price on shares of Sandisk from $740.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Raymond James Financial restated an "outperform" rating and issued a $1,470.00 target price on shares of Sandisk in a research note on Friday, May 1st. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $1,100.00 price target on shares of Sandisk in a report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Sandisk has a consensus rating of "Buy" and a consensus price target of $1,368.73.

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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