Jessup Wealth Management Inc Takes $218,000 Position in Sandisk Corporation $SNDK

Key Points

• Jessup Wealth Management opened a new position in SanDisk during the fourth quarter, buying 917 shares worth about $218,000.
• Several other institutional investors also increased their SanDisk holdings, while analysts remain broadly bullish, with the stock carrying a Moderate Buy consensus and an average price target of $1,580.67.
• SanDisk reported strong quarterly results, with EPS of $23.41 beating estimates and revenue up 251% year over year, though insiders have recently sold shares and some commentary warns the stock may be richly valued after its sharp rally.

Jessup Wealth Management Inc bought a new position in Sandisk Corporation (NASDAQ:SNDK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 917 shares of the data storage provider's stock, valued at approximately $218,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of Sandisk by 84.2% in the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider's stock valued at $1,073,000 after buying an additional 2,067 shares in the last quarter. Tredje AP fonden bought a new position in shares of Sandisk in the fourth quarter valued at $7,821,000. ProShare Advisors LLC increased its holdings in shares of Sandisk by 1,301.5% in the fourth quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider's stock valued at $7,985,000 after buying an additional 31,237 shares in the last quarter. FourThought Financial Partners LLC bought a new position in shares of Sandisk in the fourth quarter valued at $422,000. Finally, North Dakota State Investment Board bought a new position in shares of Sandisk in the fourth quarter valued at $1,127,000.

Wall Street Analysts Forecast Growth

SNDK has been the topic of several recent analyst reports. 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. The Goldman Sachs Group reissued a "buy" rating and set a $1,200.00 target price on shares of Sandisk in a research note on Friday, May 1st. Wells Fargo & Company boosted their target price on shares of Sandisk from $975.00 to $1,250.00 and gave the company an "equal weight" rating in a research note on Friday, May 1st. Wedbush boosted their target price on shares of Sandisk from $740.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Finally, KGI Securities initiated coverage on shares of Sandisk in a research note on Wednesday, March 18th. They set an "outperform" rating and a $992.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Sandisk has an average rating of "Moderate Buy" and a consensus target price of $1,580.67.

Insider Activity at Sandisk

In related news, Director Necip Sayiner sold 579 shares of the company's stock in a transaction 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 completion of the sale, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. This represents a 16.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bernard Shek sold 600 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $1,736.00, for a total transaction of $1,041,600.00. Following the completion of the sale, the insider owned 32,232 shares of the company's stock, valued at $55,954,752. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 5,625 shares of company stock valued at $8,913,497. Insiders own 0.21% of the company's stock.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk shares climbed as analysts grew more optimistic about its position in the fast-growing NAND memory market, with fresh commentary saying the stock is outperforming a weak broader market. Why is SanDisk stock rising today?
• Positive Sentiment: Investor interest was also lifted by Wall Street price-target hikes from major firms, including Cantor and Bank of America, reinforcing expectations that the AI-driven NAND cycle could support further upside. Why Is SanDisk Stock Gaining Tuesday?
• Positive Sentiment: Zacks highlighted SanDisk’s new business model initiatives, saying they have secured $42 billion in revenue commitments and could reduce dependence on volatile NAND pricing. Can SNDK's New Business Models Reduce Dependence on NAND Volatility?
• Neutral Sentiment: Coverage from a Mizuho Technology Conference transcript and other market commentary kept SanDisk in the spotlight, but these items were mostly informational rather than a direct catalyst. Sandisk Corporation (SNDK) Presents at Mizuho Technology Conference 2026 Transcript
• Negative Sentiment: Bearish commentary argued SanDisk looks fully valued after its sharp 2026 rally, suggesting the stock may be vulnerable if investors stop chasing momentum. Up 500% in 2026: 1 Deeply Concerning Reason to Stand Pat on SanDisk Stock Despite the June Rebound
• Negative Sentiment: Seeking Alpha also issued a downgrade, reinforcing concerns that the market may have already priced in much of the NAND supercycle recovery. Sandisk: The Cycle Is Early, The Re-Rate Is Not (Rating Downgrade)

Sandisk Stock Down 0.2%

Sandisk stock opened at $1,643.23 on Thursday. The company's fifty day simple moving average is $1,237.43 and its 200-day simple moving average is $728.74. Sandisk Corporation has a 12 month low of $39.44 and a 12 month high of $1,861.00. The stock has a market cap of $243.35 billion, a P/E ratio of 57.12 and a beta of 4.87.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, beating the consensus estimate 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 prior year, the firm earned ($0.30) earnings per share. The company's 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 64.01 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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