iA Global Asset Management Inc. Cuts Stock Holdings in Sandisk Corporation $SNDK

Key Points

• iA Global Asset Management cut its Sandisk stake by 49.4% in the fourth quarter, selling 44,170 shares and ending with 45,190 shares valued at about $10.7 million.
• Several other institutions made new or larger bets on Sandisk, while insiders sold shares too, including directors Miyuki Suzuki and Necip Sayiner; insiders have sold 6,525 shares worth about $6.6 million over the last three months.
• Wall Street remains bullish after Sandisk’s strong earnings and revenue growth, with analysts maintaining mostly Buy ratings and a consensus price target of $1,065.81; the company also reported quarterly EPS far above estimates and revenue up 251% year over year.

iA Global Asset Management Inc. trimmed its holdings in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 49.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,190 shares of the data storage provider's stock after selling 44,170 shares during the period. iA Global Asset Management Inc.'s holdings in Sandisk were worth $10,727,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Canada Post Corp Registered Pension Plan purchased a new stake in Sandisk during the fourth quarter valued at about $833,000. AlphaCore Capital LLC purchased a new stake in Sandisk during the fourth quarter valued at about $261,000. Northwestern Mutual Investment Management Company LLC purchased a new stake in Sandisk during the fourth quarter valued at about $1,056,000. Northwestern Mutual Wealth Management Co. boosted its position in Sandisk by 3,836.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 11,102 shares of the data storage provider's stock valued at $2,635,000 after buying an additional 10,820 shares during the period. Finally, Donoghue Forlines LLC purchased a new stake in Sandisk during the fourth quarter valued at about $2,336,000.

Insider Buying and Selling

In related news, Director Miyuki Suzuki sold 3,500 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Necip Sayiner sold 579 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction 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. The trade was a 16.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,525 shares of company stock valued at $6,555,092 over the last three months. Corporate insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SNDK. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,200.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Royal Bank Of Canada upped their price objective on shares of Sandisk from $650.00 to $1,000.00 and gave the company a "sector perform" rating in a research note on Friday, May 1st. Zacks Research raised shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 20th. Raymond James Financial reaffirmed an "outperform" rating and set a $1,470.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Finally, Sanford C. Bernstein upped their price objective on shares of Sandisk from $1,250.00 to $1,700.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Three equities research 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 company. Based on data from MarketBeat, Sandisk presently has a consensus rating of "Moderate Buy" and an average price target of $1,065.81.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk is being viewed as a key beneficiary of the AI infrastructure trade, with strong enterprise SSD and datacenter demand supporting the bull case. Sandisk Rides on Strong Datacenter Revenues: More Upside Ahead?
• Positive Sentiment: Commentary continues to highlight the strength of the memory rally and argue that Sandisk’s stock could still have room to rise, reinforcing momentum sentiment. Sandisk Price Prediction: Has the Rally Gone Too Far?
• Positive Sentiment: Recent market chatter says S&P upgraded Sandisk after it repaid all debt, built a $3.7 billion cash pile, and authorized a $6 billion buyback plan, all of which support the stock. What's Going On With Sandisk Stock Thursday?
• Positive Sentiment: Analysts have continued lifting price targets, showing confidence in Sandisk’s earnings power and growth outlook. SanDisk (SNDK) price target increased by 44.34% to 1,248.91
• Neutral Sentiment: Sandisk said it is rejecting an unsolicited “mini-tender” offer from Tutanota LLC, which appears immaterial to operations but underscores how much attention the stock has drawn after its sharp run-up. Sandisk Recommends Stockholders Reject “Mini-Tender” Offer by Tutanota LLC
• Neutral Sentiment: An insider sale by the chief accounting officer was disclosed, but it looks more routine than alarming and does not change the fundamental outlook. Top SanDisk Executive Makes Major Move With Insider Stock Sale
• Negative Sentiment: Some recent commentary warns the rally may be stretched, leaving Sandisk vulnerable to volatility if sentiment cools or investors start taking profits.

Sandisk Price Performance

SNDK stock opened at $1,407.61 on Monday. Sandisk Corporation has a 1 year low of $35.79 and a 1 year high of $1,600.00. The company has a market cap of $208.45 billion, a P/E ratio of 48.93 and a beta of 4.82. The firm has a 50-day moving average of $899.12 and a 200 day moving average of $555.71.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.95 billion during the quarter. During the same period in the previous year, the company earned ($0.30) earnings per share. Sandisk's quarterly revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities research analysts expect that Sandisk Corporation will post 63.58 earnings per share for the current fiscal year.

About Sandisk

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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