Praxis Investment Management Inc. Sells 786 Shares of Sandisk Corporation $SNDK

Key Points

• Praxis Investment Management cut its Sandisk stake by 18.4% in Q1, selling 786 shares and ending with 3,493 shares valued at about $2.22 million.
• Sandisk’s recent news flow was broadly positive, including the start of production of 10th-generation 3D flash memory with Kioxia and sampling of its BiCS10 1Tb TLC 3D NAND aimed at data-center and AI workloads.
• Despite some recent stock volatility and broader memory-sector selloff concerns, analysts remain constructive overall, with multiple firms raising targets and Sandisk keeping a Moderate Buy consensus rating.

Praxis Investment Management Inc. lowered its stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 18.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,493 shares of the data storage provider's stock after selling 786 shares during the quarter. Praxis Investment Management Inc.'s holdings in Sandisk were worth $2,219,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. purchased a new position in Sandisk in the fourth quarter worth $26,000. Greenline Wealth Management LLC purchased a new stake in Sandisk during the fourth quarter valued at about $26,000. Chung Wu Investment Group LLC bought a new stake in Sandisk during the fourth quarter worth about $27,000. Westfuller Advisors LLC lifted its stake in Sandisk by 51.8% during the fourth quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider's stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Finally, Parallel Advisors LLC purchased a new position in shares of Sandisk in the 3rd quarter worth about $30,000.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk announced it has started production of its 10th-generation 3D flash memory with Kioxia at the Kitakami plant, and separately said it is sampling BiCS10 1Tb TLC 3D NAND. Both updates point to higher density, better power efficiency, and more capacity for data-center and AI workloads. Article Title Article Title
• Positive Sentiment: Analysts remained constructive on Sandisk, with China Renaissance lifting its price target sharply on strong AI storage demand and Bank of America raising its target to $2,500 while keeping a buy rating. Article Title
• Positive Sentiment: Commentary from several outlets says the recent selloff may be a pullback after a huge first-half rally, with some investors viewing the weakness as a buying opportunity rather than a change in the underlying growth thesis. Article Title
• Neutral Sentiment: MarketBeat’s week-in-review noted Sandisk as a poster child for tech-sector volatility, reflecting how much the stock can swing on sector rotation and sentiment shifts. Article Title
• Negative Sentiment: Sandisk shares have been hit by a broader selloff in AI chip and memory stocks as investors rotate toward AI software, and some reports also cite profit-taking and memory supply-glut fears. Article Title Article Title
• Negative Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged 10b5-1 plan, a routine filing but still a mild caution flag for sentiment. Article Title

Insider Buying and Selling

In other news, insider Bernard Shek sold 600 shares of the firm'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 value of $1,252,800.00. Following the transaction, the insider owned 31,515 shares in the company, valued at approximately $65,803,320. This trade represents a 1.87% 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction on Monday, June 1st. The stock was 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 directly owned 52,677 shares in the company, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 6,225 shares of company stock worth $10,166,297. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SNDK shares. Weiss Ratings lowered Sandisk from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, June 3rd. Melius Research set a $2,350.00 target price on Sandisk in a research note on Monday, May 18th. Arete Research upgraded shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 13th. Mizuho lifted their price target on shares of Sandisk from $1,825.00 to $2,200.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. Finally, Raymond James Financial reissued an "outperform" rating and set a $1,470.00 price target on shares of Sandisk in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Sandisk presently has an average rating of "Moderate Buy" and an average target price of $1,684.24.

Sandisk Stock Performance

SNDK opened at $1,745.00 on Friday. The company has a market cap of $258.42 billion, a P/E ratio of 60.65 and a beta of 4.74. The business's 50-day moving average price is $1,650.22 and its 200-day moving average price is $942.09. Sandisk Corporation has a 12 month low of $40.10 and a 12 month high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating the consensus estimate of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The company had revenue of $5.95 billion during the quarter. During the same quarter in the prior year, the company earned ($0.30) earnings per share. The company's revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities research analysts forecast that Sandisk Corporation will post 64.01 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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