Sandisk Corporation $SNDK Shares Sold by AXQ Capital LP

Key Points

• AXQ Capital LP cut its stake in Sandisk by 58.1% in the fourth quarter, leaving it with 2,745 shares valued at about $652,000.
• Several other institutions were active in the stock, with some adding positions sharply; for example, ProShare Advisors LLC boosted its stake by 1,301.5% and Allworth Financial LP increased holdings by 84.2%.
• Sandisk has had a strong run, with shares trading up 6.7% and near their 52-week high, while the company also posted much stronger-than-expected earnings and raised its Q4 2026 guidance.

AXQ Capital LP trimmed its position in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 58.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,745 shares of the data storage provider's stock after selling 3,810 shares during the period. AXQ Capital LP's holdings in Sandisk were worth $652,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SNDK. Allworth Financial LP increased its stake in Sandisk by 84.2% in the fourth quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider's stock valued at $1,073,000 after purchasing an additional 2,067 shares during the last quarter. Tredje AP fonden acquired a new stake in Sandisk in the 4th quarter worth about $7,821,000. ProShare Advisors LLC boosted its stake in Sandisk by 1,301.5% in the 4th quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider's stock worth $7,985,000 after buying an additional 31,237 shares during the last quarter. FourThought Financial Partners LLC purchased a new stake in Sandisk in the 4th quarter valued at about $422,000. Finally, North Dakota State Investment Board purchased a new stake in Sandisk in the 4th quarter valued at about $1,127,000.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 579 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the transaction, the chief accounting officer directly owned 22,375 shares in the company, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,025 shares of company stock worth $7,871,897 in the last 90 days. 0.21% of the stock is owned by company insiders.

Sandisk Trading Up 6.7%

Shares of NASDAQ SNDK opened at $1,831.50 on Thursday. The stock has a fifty day moving average price of $1,135.85 and a 200 day moving average price of $679.14. Sandisk Corporation has a 12-month low of $37.33 and a 12-month high of $1,861.00. The company has a market cap of $271.23 billion, a P/E ratio of 63.66 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 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter. During the same quarter in the prior year, the firm earned ($0.30) EPS. The company's revenue for the quarter was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, sell-side analysts forecast that Sandisk Corporation will post 63.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SNDK. Bank of America increased their price objective on shares of Sandisk from $900.00 to $1,080.00 and gave the stock a "buy" rating in a report on Friday, April 17th. Royal Bank Of Canada boosted their target price on shares of Sandisk from $650.00 to $1,000.00 and gave the company a "sector perform" rating in a report on Friday, May 1st. Cantor Fitzgerald increased their price target on shares of Sandisk from $1,400.00 to $1,800.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Arete Research upgraded shares of Sandisk from a "hold" rating to a "strong-buy" rating in a report on Monday, April 13th. Finally, Mizuho lifted their target price on Sandisk from $1,625.00 to $1,825.00 and gave the company an "outperform" rating in a report on Thursday, May 28th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $1,398.27.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts at Morgan Stanley said the memory-stock rally may not be over, citing strong AI demand and rising memory prices as reasons Sandisk could see further upside. Morgan Stanley says there is no quick fix to memory shortage
• Positive Sentiment: Several articles highlighted Sandisk as a favorite in the AI-memory trade, with commentators arguing the company is still benefiting from a powerful supply-demand mismatch and strong trader interest. Traders are flocking to Sandisk
• Positive Sentiment: A new article said Sandisk stock is soaring to another all-time high, reinforcing the momentum-driven bullish sentiment around the shares. Why SanDisk Stock Is Soaring to a New All-Time High Today
• Positive Sentiment: Zacks said industry momentum in cloud, IoT, auto, and AI should support storage-device names like Sandisk, adding another constructive fundamental backdrop. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Neutral Sentiment: Sandisk EVP Alper Ilkbahar sold 2,000 shares for about $3.5 million. The sale is worth noting, but it appears relatively modest versus his remaining stake and may not signal a major change in outlook. SEC filing
• Negative Sentiment: One report flagged Sandisk’s stock and short interest at record highs, suggesting the rally is crowded and could become more volatile if sentiment cools. SanDisk's stock and short interest both at record highs - do the bears know something?

About Sandisk

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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