Sandisk Corporation $SNDK Position Reduced by Atlatl Advisers LLC

Key Points

• Atlatl Advisers cut its Sandisk position by 55.1% in the third quarter, selling 4,204 shares and retaining 3,420 shares valued at approximately $5.95 million.
• Sandisk insiders sold 77,899 shares worth about $121.2 million over the past 90 days, including significant sales by CEO David Goeckeler and EVP Alper Ilkbahar under pre-arranged trading plans.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average price target of $2,120.65, though investors face volatility ahead of the October 29 earnings report and ongoing concerns about AI infrastructure spending.

Atlatl Advisers LLC lowered its holdings in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 55.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,420 shares of the data storage provider's stock after selling 4,204 shares during the period. Sandisk accounts for approximately 1.4% of Atlatl Advisers LLC's holdings, making the stock its 18th largest position. Atlatl Advisers LLC's holdings in Sandisk were worth $5,951,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Atomic Invest LLC acquired a new position in shares of Sandisk in the second quarter valued at about $25,000. Dunhill Financial LLC acquired a new position in shares of Sandisk during the 2nd quarter worth approximately $30,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Sandisk during the second quarter worth approximately $32,000. Kilter Group LLC bought a new position in shares of Sandisk during the second quarter worth approximately $32,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Sandisk in the second quarter valued at approximately $34,000.

Insider Activity

In other Sandisk news, CEO David Goeckeler sold 33,841 shares of Sandisk stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $1,574.21, for a total transaction of $53,272,840.61. Following the transaction, the chief executive officer owned 382,865 shares of the company's stock, valued at $602,709,911.65. This trade represents a 8.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of Sandisk stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the transaction, the executive vice president directly owned 44,134 shares in the company, valued at approximately $67,991,957.72. This represents a 9.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 77,899 shares of company stock worth $121,159,122. Corporate insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SNDK. Weiss Ratings cut Sandisk from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 14th. Bank of America raised their price objective on Sandisk from $2,100.00 to $2,500.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Wells Fargo & Company lifted their price objective on Sandisk from $1,400.00 to $1,550.00 and gave the company an "equal weight" rating in a report on Thursday, August 13th. Jefferies Financial Group reissued a "buy" rating and set a $1,400.00 target price (up from $1,000.00) on shares of Sandisk in a report on Thursday, August 6th. Finally, China Renaissance raised their price target on Sandisk from $2,000.00 to $2,250.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,120.65.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: A broader semiconductor recovery lifted memory stocks, with investors buying Micron, SK Hynix and Sandisk after Thursday’s technology-led selloff. The move suggests some fears about AI-related capital expenditures and chip demand may have been overdone. Why are Micron, SK Hynix, and SanDisk stocks climbing on Friday?
• Positive Sentiment: Investor commentary remains constructive ahead of Sandisk’s October 29 earnings report. Analysts and bullish investors point to firm NAND pricing, rising enterprise SSD demand, AI-server storage needs and nearly $94 billion in signed customer contracts as potential catalysts. SanDisk Falters for 3 Months But One Top-Tier Institutional Desk Is Sure It's Going to Nearly Triple
• Positive Sentiment: Mizuho’s previously reported $2,050 price target and Buy rating reflect expectations for sustained NAND pricing strength and upside from enterprise storage. Other analysis argues that supply shortages could persist through 2028, supporting pricing power and earnings growth. Analyst Lloyd Walmsley Initiates Buy on SanDisk, Targeting $2,050
• Neutral Sentiment: Sandisk is scheduled to report results on October 29. Investors are positioned for potentially strong results and guidance, but the elevated expectations could increase post-earnings volatility. Prediction: Sandisk Stock Will Soar After Oct. 29
• Negative Sentiment: The main overhang is concern that the enormous cost of AI infrastructure could cause hyperscalers to slow capital spending, reducing future demand for memory and storage chips. Sandisk’s extreme volatility and retreat from its recent peak are also prompting profit-taking after its substantial 2026 gains. SanDisk Stock Drops as AI Cost Worries Mount

Sandisk Stock Performance

Shares of NASDAQ SNDK opened at $1,238.03 on Friday. The stock has a market cap of $178.93 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 0.13 and a beta of 5.23. Sandisk Corporation has a 52-week low of $164.56 and a 52-week high of $2,354.39. The firm has a 50 day moving average price of $1,595.43 and a two-hundred day moving average price of $1,520.09.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The business had revenue of $8.96 billion for the quarter. During the same quarter in the previous year, the firm earned $0.29 EPS. Sandisk's quarterly revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Analysts predict that Sandisk Corporation will post 208.94 earnings per share for the current fiscal year.

Sandisk declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 5th that allows the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its shares are undervalued.

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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