Sandisk Corporation $SNDK Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC sharply increased its stake in Sandisk, boosting its position by 1,070.4% in the first quarter to 74,885 shares worth about $51.9 million.
• Insider selling was notable, with EVP Alper Ilkbahar and Director Necip Sayiner both trimming holdings; insiders sold 6,225 shares worth about $10.2 million last quarter.
• Wall Street remains broadly constructive on the stock, with Sandisk reporting strong quarterly results that beat EPS estimates and analysts maintaining a Moderate Buy consensus with a $1,803.29 average price target.

Allspring Global Investments Holdings LLC grew its position in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 1,070.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,885 shares of the data storage provider's stock after purchasing an additional 68,487 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.05% of Sandisk worth $51,875,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its holdings in Sandisk by 2,750.0% in the first quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider's stock worth $36,000 after acquiring an additional 55 shares in the last quarter. Roble Belko & Company Inc acquired a new position in shares of Sandisk during the first quarter valued at about $39,000. First United Bank & Trust acquired a new position in shares of Sandisk during the first quarter valued at about $54,000. Ascentis Independent Advisors purchased a new position in shares of Sandisk in the 1st quarter valued at approximately $59,000. Finally, Indiana Trust & Investment Management Co purchased a new position in shares of Sandisk in the 1st quarter valued at approximately $64,000.

Insider Activity

In related news, EVP Alper Ilkbahar sold 2,000 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value 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 $92,531,364.66. The trade was a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Necip Sayiner sold 579 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the sale, the director directly owned 2,900 shares in the company, valued at $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,225 shares of company stock valued at $10,166,297 in the last quarter. Company insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Jefferies Financial Group reiterated a "buy" rating and issued a $1,400.00 target price on shares of Sandisk in a research note on Friday, May 1st. Barclays raised shares of Sandisk from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Weiss Ratings upgraded shares of Sandisk from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, July 6th. Morgan Stanley boosted their price objective on shares of Sandisk from $1,100.00 to $1,750.00 and gave the company an "overweight" rating in a report on Wednesday, June 3rd. Finally, Raymond James Financial reissued an "outperform" rating and set a $1,470.00 price objective on shares of Sandisk in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Sandisk presently has an average rating of "Moderate Buy" and a consensus price target of $1,803.29.

Sandisk Stock Performance

NASDAQ:SNDK opened at $1,354.38 on Friday. Sandisk Corporation has a one year low of $40.10 and a one year high of $2,354.39. The firm has a market cap of $200.57 billion, a price-to-earnings ratio of 47.08 and a beta of 4.74. The firm's fifty day moving average is $1,746.25 and its two-hundred day moving average is $1,042.54.

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 (EPS) 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 business had revenue of $5.95 billion during the quarter. During the same period last year, the firm earned ($0.30) EPS. The business's quarterly 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. As a group, equities research analysts predict that Sandisk Corporation will post 64.52 earnings per share for the current fiscal year.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Despite the pullback, several recent pieces remain constructive on Sandisk’s long-term setup, pointing to strong demand from AI infrastructure and tighter memory supply conditions that could support revenue and margins. Article Title
• Positive Sentiment: Sandisk’s valuation has come down sharply from recent highs, with some investors and analysts arguing the selloff may have made the stock more attractive relative to its growth outlook. Article Title
• Neutral Sentiment: Sandisk also announced progress on its Fab2 project with Kioxia and said BiCS10 sampling has begun, a development that supports its product roadmap but is not an immediate earnings catalyst. Article Title
• Negative Sentiment: Technical damage has intensified after the stock broke key support levels, with chart watchers citing a sharp drop from recent peaks and warning that momentum has turned decisively lower ahead of the next earnings report. Article Title
• Negative Sentiment: Sector-wide weakness, including concerns about Chinese competition and a broad AI-chip rotation, has added to the selloff in memory stocks such as Sandisk. Article Title

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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