Sandisk Corporation $SNDK Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its SanDisk stake by 7.9% in the fourth quarter, leaving it with 32,385 shares valued at about $7.7 million.
• Insider selling continued, including recent sales by CAO Michael Pokorny and Director Necip Sayiner; insiders sold 5,025 shares worth about $7.9 million over the last 90 days.
• Analysts remain bullish overall, with several raising price targets and MarketBeat showing a consensus “Buy” rating and a consensus target price of $1,368.73.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,385 shares of the data storage provider's stock after selling 2,770 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Sandisk were worth $7,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new stake in Sandisk during the 3rd quarter worth approximately $1,970,388,000. State Street Corp acquired a new stake in Sandisk during the 3rd quarter worth approximately $491,053,000. Geode Capital Management LLC lifted its position in Sandisk by 44.9% during the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider's stock worth $866,310,000 after acquiring an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Sandisk during the 3rd quarter worth approximately $297,293,000. Finally, Norges Bank acquired a new stake in Sandisk during the 4th quarter worth approximately $518,889,000.

Insider Activity at Sandisk

In related news, CAO Michael Pokorny sold 2,446 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the completion of the transaction, the chief accounting officer directly owned 22,375 shares of the company's stock, valued at $31,910,777.50. This trade represents a 9.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Necip Sayiner sold 579 shares of the firm's 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 transaction, the director directly owned 2,900 shares of the company's stock, valued at $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,025 shares of company stock valued at $7,871,897 in the last ninety days. Corporate insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SNDK. Citigroup increased their price objective on Sandisk from $1,300.00 to $2,025.00 and gave the stock a "buy" rating in a research report on Tuesday, May 19th. Morgan Stanley reissued an "overweight" rating and set a $1,100.00 target price on shares of Sandisk in a research note on Monday, April 27th. Wells Fargo & Company increased their target price on Sandisk from $975.00 to $1,250.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Wedbush increased their target price on Sandisk from $740.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $1,200.00 target price on shares of Sandisk in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Sandisk presently has a consensus rating of "Buy" and a consensus target price of $1,368.73.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Multiple articles highlighted Sandisk as a beneficiary of the AI memory supercycle, with analysts and commentators saying tight memory markets, strong pricing, and booming data center demand could keep supporting earnings and valuation. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Positive Sentiment: Several bullish pieces said Sandisk remains one of the favored AI memory stocks, with some writers arguing the company is still undervalued despite its huge run and that analysts see additional upside ahead. After SanDisk's Historic Run, Analysts Still See More Upside
• Positive Sentiment: Sandisk was also cited as one of the top-searching and most-followed tickers in May, reflecting strong retail and trader interest that can help keep momentum in the stock. Is Sandisk Corporation (SNDK) One of the Top Undervalued Blue Chip Stocks Analysts Recommend for Smart Investing?
• Positive Sentiment: An article on 247WallSt called Sandisk its favorite stock idea, citing the AI data center buildout as a major tailwind for the company’s storage products. Why Sandisk Corporation Is My Favorite Stock Idea Right Now
• Neutral Sentiment: Sandisk EVP Alper Ilkbahar sold 2,000 shares for about $3.5 million, a modest insider sale that may be viewed as routine profit-taking, though it can still add a little caution for investors. SEC filing
• Negative Sentiment: One article noted that Sandisk’s stock and short interest are both at record highs, which suggests the move has become crowded and could invite volatility if sentiment shifts. SanDisk's stock and short interest both at record highs - do the bears know something?

Sandisk Trading Down 2.6%

Shares of SNDK stock opened at $1,716.36 on Wednesday. The company has a market cap of $254.18 billion, a price-to-earnings ratio of 59.66 and a beta of 4.87. The stock has a 50 day simple moving average of $1,093.12 and a 200-day simple moving average of $657.86. Sandisk Corporation has a 12-month low of $36.87 and a 12-month high of $1,804.00.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (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 business had revenue of $5.95 billion during the quarter. During the same period last year, the company posted ($0.30) earnings per share. The business's quarterly revenue was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, equities analysts forecast that Sandisk Corporation will post 63.58 earnings per share for the current fiscal year.

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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