Sandisk Corporation $SNDK Shares Bought by Glynn Capital Management LLC

Key Points

• Glynn Capital Management increased its Sandisk position by 64.6% in the third quarter, ending with 6,291 shares valued at approximately $10.9 million. Other institutional investors, including Arrowstreet Capital and Situational Awareness, also added shares.
• Sandisk reported quarterly EPS of $39.25, beating estimates of $33.28, while revenue rose 371.6% year over year to $8.96 billion. The company also authorized a $14 billion stock buyback, covering up to 6.6% of outstanding shares.
• Despite strong institutional buying and positive analyst ratings, company insiders sold 77,899 shares worth about $121.2 million over the past 90 days. Analysts maintain a “Moderate Buy” consensus, with an average price target of $2,120.65.

Glynn Capital Management LLC lifted its position in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 64.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,291 shares of the data storage provider's stock after acquiring an additional 2,468 shares during the quarter. Sandisk accounts for about 3.2% of Glynn Capital Management LLC's holdings, making the stock its 15th biggest position. Glynn Capital Management LLC's holdings in Sandisk were worth $10,946,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Sandisk in the 2nd quarter worth about $23,408,732,000. Evergreen Quality Fund GP Ltd. purchased a new stake in Sandisk in the fourth quarter valued at approximately $255,848,000. Arrowstreet Capital Limited Partnership increased its position in Sandisk by 31.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider's stock worth $825,608,000 after purchasing an additional 828,332 shares during the last quarter. Situational Awareness LP increased its position in Sandisk by 42.4% during the second quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider's stock worth $5,673,739,000 after purchasing an additional 743,325 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Sandisk in the 2nd quarter valued at $1,621,353,000.

Insider Buying and Selling

In related news, CEO David Goeckeler sold 33,841 shares of the business's stock in a transaction that occurred on Thursday, September 17th. The stock was 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 directly owned 382,865 shares of the company's stock, valued at approximately $602,709,911.65. The trade was a 8.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 the company's 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 value of $7,259,212.96. Following the completion of the transaction, the executive vice president owned 44,134 shares of the company's stock, 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 valued at $121,159,122. Corporate insiders own 0.21% of the company's stock.

Sandisk Trading Down 2.6%

Shares of Sandisk stock opened at $1,660.46 on Wednesday. The company has a fifty day moving average price of $1,565.54 and a 200 day moving average price of $1,457.01. Sandisk Corporation has a twelve month low of $115.68 and a twelve month high of $2,354.39. The stock has a market cap of $243.12 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 0.17 and a beta of 5.23.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its quarterly 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. The firm had revenue of $8.96 billion during the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm's revenue for the quarter was up 371.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Analysts forecast that Sandisk Corporation will post 208.94 earnings per share for the current year.

Sandisk announced that its board has initiated a stock buyback program on Wednesday, August 5th that permits the company to buyback $14.00 billion in outstanding shares. This buyback authorization permits the data storage provider to buy up to 6.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SNDK shares. Arete Research upped their price objective on Sandisk from $2,300.00 to $3,000.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Jefferies Financial Group reiterated a "buy" rating and issued a $1,400.00 target price (up from $1,000.00) on shares of Sandisk in a report on Thursday, August 6th. Evercore reissued an "outperform" rating and set a $3,100.00 price target (up from $1,400.00) on shares of Sandisk in a research report on Thursday, August 13th. Citigroup restated a "buy" rating on shares of Sandisk in a research note on Thursday, October 1st. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $2,900.00 price objective (up from $1,800.00) on shares of Sandisk in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $2,120.65.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Mizuho raised its price target to $2,050 from $1,875 and maintained an “Outperform” rating, citing demand from agentic artificial intelligence applications. The new target implies substantial upside from recent trading levels. Mizuho Raises AMD, SanDisk Stock Price Targets on Agentic AI Demand
• Positive Sentiment: Sandisk was added to Zacks’ Rank #1 “Strong Buy” and momentum-stock lists, reflecting favorable quantitative trends and continued investor interest in AI-linked semiconductor companies. New Strong Buy Stocks for October 6th
• Positive Sentiment: A Seeking Alpha analysis highlighted Sandisk’s $93.9 billion NAND bit memory contract book, customer financial guarantees and $2.5 billion in cash received. Datacenter revenue grew sharply to $5.15 billion in fiscal 2026, indicating strong hyperscaler demand and improved visibility. Sandisk: Customer Money Is Keeping Pace With The Contract Boom

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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