Sandisk Corporation $SNDK is Alta Park Capital LP's 3rd Largest Position

Key Points

• Alta Park Capital LP reduced its Sandisk stake by 17.9% in the fourth quarter, but Sandisk still remains its 3rd largest holding. The fund owned 197,896 shares worth about $46.98 million at the end of the period.
• Wall Street sentiment remains broadly bullish on Sandisk, with multiple firms reaffirming or raising price targets. The stock currently carries a consensus rating of Moderate Buy and an average target of $1,580.67.
• Sandisk delivered a strong quarterly report, posting $23.41 EPS versus estimates of $14.17 and revenue of $5.95 billion, up 251% year over year. However, some market commentary warns the stock may be overbought after its sharp run-up.

Alta Park Capital LP cut its stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 17.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 197,896 shares of the data storage provider's stock after selling 43,033 shares during the period. Sandisk makes up approximately 5.7% of Alta Park Capital LP's holdings, making the stock its 3rd largest holding. Alta Park Capital LP owned about 0.13% of Sandisk worth $46,977,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SNDK. Whittier Trust Co. purchased a new position in Sandisk in the fourth quarter valued at about $26,000. Greenline Wealth Management LLC purchased a new position in Sandisk in the fourth quarter valued at about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Sandisk in the third quarter valued at about $27,000. Chung Wu Investment Group LLC purchased a new position in Sandisk in the fourth quarter valued at about $27,000. Finally, Parallel Advisors LLC purchased a new position in Sandisk in the third quarter valued at about $30,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,200.00 target price on shares of Sandisk in a report on Friday, May 1st. Jefferies Financial Group reissued a "buy" rating and set a $1,400.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Morgan Stanley raised their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 3rd. Melius Research set a $2,350.00 price objective on shares of Sandisk in a research note on Monday, May 18th. Finally, Arete Research raised shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 13th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,580.67.

Sandisk Price Performance

Shares of SNDK opened at $1,958.80 on Thursday. The firm has a 50 day simple moving average of $1,366.71 and a 200-day simple moving average of $791.01. Sandisk Corporation has a 1-year low of $40.10 and a 1-year high of $2,167.33. The stock has a market cap of $290.08 billion, a price-to-earnings ratio of 68.08 and a beta of 4.87.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts' consensus estimates of $14.17 by $9.24. The business 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 company's revenue for the quarter was up 251.0% on a year-over-year basis. During the same period last year, the business earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities analysts expect that Sandisk Corporation will post 64.01 earnings per share for the current fiscal year.

Insider Activity

In other Sandisk news, Director Necip Sayiner sold 579 shares of Sandisk 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 value of $870,300.69. Following the completion of the sale, the director directly owned 2,900 shares of the company's stock, valued at approximately $4,359,019. The trade was a 16.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction that occurred 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 sale, the executive vice president directly owned 52,677 shares of the company's stock, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,625 shares of company stock valued at $8,913,497 over the last quarter. Insiders own 0.21% of the company's stock.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts and bullish commentators say Sandisk is benefiting from accelerating AI memory demand, especially at the edge, where more AI-enabled devices need local storage. One recent upgrade argues this could support long-term growth and higher valuation. Sandisk: I Was Wrong, Edge AI Changes Everything (Rating Upgrade)
• Positive Sentiment: Another analysis says AI inference workloads could boost NAND demand through enterprise SSDs, supply agreements, and better margins, reinforcing the bull case for Sandisk’s storage cycle. Can AI Inference Workloads Accelerate NAND Demand for Sandisk?
• Neutral Sentiment: Coverage comparing top 2026 S&P 500 performers continues to spotlight Sandisk as a major AI-memory winner, which can keep investor attention high but does not add new company-specific fundamentals. AI Memory Demand Has Turned These 5 S&P 500 Stocks Into Market Leaders
• Negative Sentiment: Carter Worth of Worth Charting warned that the memory-chip trade has gone “too far, too fast” and singled out Sandisk as the “most overbought stock ever,” encouraging traders to trim or hedge positions. Take Profits Now. Famous Chart Technician Says SanDisk is The “Most Overbought Stock Ever”
• Negative Sentiment: Additional articles note Sandisk slipping back after hitting a record high, reinforcing fears of a near-term pullback as investors lock in gains. SanDisk Is ‘the Most Overbought Stock in History,’ Says Polymarket

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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