Parallel Advisors LLC Acquires 1,001 Shares of Sandisk Corporation $SNDK

Key Points

• Parallel Advisors LLC boosted its SanDisk stake by 233.3% in the first quarter, buying 1,001 additional shares and ending with 1,430 shares worth about $909,000.
• Institutional interest and analyst sentiment remain broadly bullish, with several firms raising price targets and the consensus rating sitting at “Moderate Buy.” Recent news also highlighted AI infrastructure demand, tight memory supply, and strong NAND pricing as tailwinds.
• SanDisk’s latest earnings were very strong: the company beat estimates with $23.41 EPS and $5.95 billion in revenue, while management guided Q4 2026 EPS to 30-33. Despite that, some analysts have recently trimmed targets, and insiders have sold shares over the last quarter.

Parallel Advisors LLC increased its stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 233.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,430 shares of the data storage provider's stock after buying an additional 1,001 shares during the quarter. Parallel Advisors LLC's holdings in Sandisk were worth $909,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp acquired a new position in shares of Sandisk in the 3rd quarter worth approximately $491,053,000. Arrowstreet Capital Limited Partnership bought a new position in Sandisk in the third quarter valued at about $297,293,000. Norges Bank bought a new position in shares of Sandisk in the 4th quarter valued at about $518,889,000. Bank of America Corp DE bought a new position in Sandisk in the third quarter valued at approximately $190,425,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Sandisk during the third quarter worth $163,057,000.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts and market commentators highlighted Sandisk as a potential winner from AI infrastructure spending, tight memory supply, and stronger NAND pricing, reinforcing the bull case for higher earnings power. Article Title
• Positive Sentiment: Reports said memory prices remain elevated and could continue rising, which is important for Sandisk’s margins and revenue outlook. Article Title
• Positive Sentiment: Several bullish pieces argued Sandisk still has room to run after its huge 2026 rally, citing enterprise SSD growth, AI-related storage demand, and a discounted valuation relative to its growth story. Article Title
• Neutral Sentiment: With earnings approaching, investors are focused on whether Sandisk can keep beating expectations and justify its elevated valuation. Article Title
• Neutral Sentiment: Some coverage flagged a broader sector pause and profit-taking, explaining why SNDK has also seen intraday volatility despite the bullish long-term narrative. Article Title
• Negative Sentiment: At least one analyst cut a price target on SNDK, which may be pressuring sentiment even as the stock remains near record levels. Article Title
• Negative Sentiment: Susquehanna also reportedly lowered its target, suggesting some analysts think the stock’s recent run has outpaced near-term fundamentals. Article Title

Insider Activity

In other news, insider Bernard Shek sold 600 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the completion of the sale, the insider owned 31,515 shares of the company's stock, valued at approximately $65,803,320. This represents a 1.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Necip Sayiner sold 579 shares of the business'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 transaction of $870,300.69. Following the transaction, the director 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,225 shares of company stock valued at $10,166,297 over the last quarter. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SNDK. Argus initiated coverage on shares of Sandisk in a report on Wednesday, July 15th. They set a "hold" rating for the company. Barclays upgraded Sandisk from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Evercore set a $3,100.00 price target on shares of Sandisk in a research note on Monday, July 13th. Morgan Stanley upped their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 3rd. Finally, Wells Fargo & Company upped their target price on shares of Sandisk from $1,250.00 to $1,620.00 and gave the company an "equal weight" rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,811.38.

Sandisk Stock Performance

SNDK stock opened at $1,610.33 on Friday. The company's 50-day simple moving average is $1,753.46 and its 200 day simple moving average is $1,084.78. Sandisk Corporation has a 52 week low of $40.10 and a 52 week high of $2,354.39. The company has a market capitalization of $238.47 billion, a PE ratio of 55.97 and a beta of 4.74.

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 for the quarter, beating analysts' consensus estimates of $14.17 by $9.24. The company had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm's quarterly revenue was up 251.0% on a year-over-year basis. During the same quarter 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. On average, analysts forecast that Sandisk Corporation will post 64.52 EPS for the current year.

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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