Norges Bank Takes Position in Sandisk Corporation $SNDK

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Sandisk, buying 2,185,899 shares valued at about $518.9 million and ending up with roughly 1.48% of the company.
• Several other institutional investors also added to or initiated positions in SNDK, while insider selling was reported by Director Necip Sayiner and CAO Michael Pokorny.
• Analyst sentiment remains bullish: multiple firms raised price targets, including Susquehanna boosting its target to $3,250, and Sandisk recently reported strong quarterly results that beat expectations and showed major year-over-year revenue growth.

Norges Bank purchased a new stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,185,899 shares of the data storage provider's stock, valued at approximately $518,889,000. Norges Bank owned approximately 1.48% of Sandisk as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SNDK. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Sandisk during the 3rd quarter worth approximately $1,136,000. Mutual of America Capital Management LLC purchased a new position in shares of Sandisk during the 3rd quarter worth approximately $1,735,000. Allworth Financial LP increased its stake in shares of Sandisk by 84.2% during the 4th quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider's stock worth $1,073,000 after purchasing an additional 2,067 shares in the last quarter. Tredje AP fonden purchased a new position in shares of Sandisk during the 4th quarter worth approximately $7,821,000. Finally, ProShare Advisors LLC increased its position in Sandisk by 1,301.5% during the 4th quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider's stock worth $7,985,000 after purchasing an additional 31,237 shares in the last quarter.

Insider Activity

In other Sandisk news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction dated Friday, May 8th. The stock was 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 owned 2,900 shares in the company, valued at $4,359,019. The trade was a 16.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the completion of the sale, the chief accounting officer owned 22,375 shares of the company's stock, valued at $31,910,777.50. This trade represents a 9.85% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

Sandisk News Summary

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 research firms recently commented on SNDK. The Goldman Sachs Group reiterated a "buy" rating and set a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. KGI Securities began coverage on Sandisk in a research report on Wednesday, March 18th. They set an "outperform" rating and a $992.00 price objective for the company. Sanford C. Bernstein lifted their price objective on Sandisk from $1,250.00 to $1,700.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Susquehanna lifted their price objective on Sandisk from $2,000.00 to $3,250.00 and gave the stock a "positive" rating in a research report on Friday. Finally, Zacks Research upgraded Sandisk from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 20th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Sandisk presently has a consensus rating of "Buy" and an average target price of $1,368.73.

Sandisk Stock Performance

SNDK stock opened at $1,694.98 on Monday. The stock has a market capitalization of $251.01 billion, a P/E ratio of 58.91 and a beta of 4.88. Sandisk Corporation has a one year low of $36.21 and a one year high of $1,708.83. The company has a 50 day moving average price of $1,073.33 and a two-hundred day moving average price of $647.37.

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. The company 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 quarterly revenue was up 251.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Research analysts forecast that Sandisk Corporation will post 63.58 earnings per share 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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