Pictet Asset Management Holding SA Sells 12,739 Shares of Sandisk Corporation $SNDK

Key Points

• Pictet Asset Management reduced its Sandisk stake by 23.8% in the first quarter, selling 12,739 shares and leaving it with 40,779 shares valued at about $25.9 million.
• Wall Street remains bullish on Sandisk, with multiple firms raising price targets on expectations for tight NAND supply, stronger pricing, AI-related demand, and durable long-term growth in memory products.
• Sandisk’s fundamentals were strong in its latest earnings report, as it beat estimates with $23.41 EPS on $5.95 billion in revenue and provided upbeat Q4 2026 guidance, even as the stock has recently pulled back from a sharp rally.

Pictet Asset Management Holding SA cut its position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 23.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,779 shares of the data storage provider's stock after selling 12,739 shares during the quarter. Pictet Asset Management Holding SA's holdings in Sandisk were worth $25,909,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Osaic Holdings Inc. bought a new stake in Sandisk during the second quarter worth $317,000. Merit Financial Group LLC acquired a new position in Sandisk in the third quarter valued at about $408,000. MAI Capital Management acquired a new position in Sandisk during the third quarter valued at approximately $181,000. US Bancorp DE bought a new position in shares of Sandisk in the third quarter worth about $922,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Sandisk during the 3rd quarter valued at $27,000.

Insiders Place Their Bets

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the transaction, the executive vice president owned 52,677 shares of the company's stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Necip Sayiner sold 579 shares of the 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 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. The SEC filing for this sale provides additional information. Insiders have sold 5,625 shares of company stock worth $8,913,497 in the last ninety days. Insiders own 0.21% of the company's stock.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America raised its price target on Sandisk to $2,500 from $2,100 and kept a Buy rating, citing tight NAND supply, stronger pricing, and demand that could remain elevated through 2027. Article Title
• Positive Sentiment: Bernstein also sharply boosted its outlook on Sandisk, with reports highlighting a much higher price target and confidence in the company’s contracts, earnings power, and the durability of the memory supercycle. Article Title
• Positive Sentiment: Analysts continue to point to Sandisk’s expanding QLC SSD portfolio, AI storage demand, and multi-year supply deals as support for longer-term growth. Article Title
• Neutral Sentiment: Several market commentary pieces noted that Sandisk has already run sharply higher this year, with some investors questioning whether valuations have gotten too stretched after the memory-stock rally. Article Title
• Neutral Sentiment: Sandisk’s recent earnings strength and bullish long-term guidance continue to support the stock, even as the market debates how much upside is already priced in.
• Negative Sentiment: Sandisk fell along with other memory-chip stocks in a broad semiconductor selloff, with investors locking in profits after a strong first half for the sector. Article Title
• Negative Sentiment: Reports also said a new class-action lawsuit against major memory chipmakers added pressure to the shares, reinforcing concerns about risk in the sector. Article Title

Analysts Set New Price Targets

A number of research firms recently commented on SNDK. Cantor Fitzgerald lifted their price objective on Sandisk from $1,800.00 to $2,900.00 and gave the stock an "overweight" rating in a research note on Monday, June 8th. Arete Research upgraded Sandisk from a "hold" rating to a "strong-buy" rating in a report on Monday, April 13th. KGI Securities started coverage on Sandisk in a research report on Wednesday, March 18th. They set an "outperform" rating and a $992.00 target price on the stock. UBS Group set a $1,700.00 price objective on shares of Sandisk in a research note on Monday, May 4th. Finally, Susquehanna lifted their target price on Sandisk from $2,000.00 to $3,250.00 and gave the stock a "positive" rating in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,684.24.

Sandisk Stock Down 10.6%

SNDK opened at $2,032.22 on Thursday. Sandisk Corporation has a 52 week low of $40.10 and a 52 week high of $2,354.39. The stock has a market cap of $300.95 billion, a PE ratio of 70.64 and a beta of 4.72. The business's fifty day simple moving average is $1,618.07 and its 200 day simple moving average is $925.59.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its 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 for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. Sandisk's revenue for the quarter was up 251.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities analysts anticipate that Sandisk Corporation will post 64.01 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.