Sandisk Corporation $SNDK Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Sandisk stake by 96% in the third quarter, selling 19,453 shares and retaining just 804 shares valued at approximately $1.4 million.
• Sandisk insiders sold 77,899 shares worth about $121.2 million over the past quarter, including sales by the CFO and an executive vice president under pre-arranged Rule 10b5-1 plans.
• Despite a 4.1% share-price decline to $1,345.21, analysts maintain a “Moderate Buy” consensus with an average target of $2,120.65; the company also reported strong earnings growth and authorized a $14 billion stock-repurchase program.

Curated Wealth Partners LLC reduced its holdings in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 96.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 804 shares of the data storage provider's stock after selling 19,453 shares during the period. Curated Wealth Partners LLC's holdings in Sandisk were worth $1,399,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at Sandisk

In other Sandisk news, CFO Luis Visoso sold 1,000 shares of Sandisk stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $1,568.83, for a total transaction of $1,568,830.00. Following the transaction, the chief financial officer directly owned 130,976 shares of the company's stock, valued at $205,479,078.08. The trade was a 0.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the business'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 transaction of $7,259,212.96. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 77,899 shares of company stock valued at $121,159,122. Corporate insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SNDK shares. Wedbush restated an "outperform" rating and set a $2,000.00 target price on shares of Sandisk in a research note on Friday, August 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $2,900.00 price target (up from $1,800.00) on shares of Sandisk in a research note on Monday, August 10th. Rosenblatt Securities initiated coverage on shares of Sandisk in a report on Tuesday, September 22nd. They set a "buy" rating and a $2,400.00 price objective on the stock. Citigroup reaffirmed a "buy" rating on shares of Sandisk in a research report on Thursday, October 1st. Finally, BNP Paribas Exane reduced their price target on shares of Sandisk from $1,900.00 to $1,400.00 in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $2,120.65.

Sandisk Stock Down 4.1%

NASDAQ SNDK traded down $58.13 during mid-day trading on Thursday, hitting $1,345.21. The stock had a trading volume of 8,710,774 shares, compared to its average volume of 15,094,983. Sandisk Corporation has a 52-week low of $136.29 and a 52-week high of $2,354.39. The company has a market cap of $194.42 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 0.15 and a beta of 5.23. The company has a 50 day simple moving average of $1,599.14 and a 200 day simple moving average of $1,492.85.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping the consensus estimate of $33.28 by $5.97. The company 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 business's quarterly revenue was up 371.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, equities analysts anticipate that Sandisk Corporation will post 208.94 earnings per share for the current fiscal year.

Sandisk announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in shares. This repurchase authorization authorizes the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Zacks Research upgraded Sandisk from “hold” to “strong buy,” adding a favorable analyst signal after the recent pullback.
• Positive Sentiment: Sandisk’s data-storage partnership with Meta Platforms for Meta VR Glasses supports the company’s exposure to growing AI, virtual-reality and high-performance storage demand. SanDisk Stock Drops Despite a Data Storage Partnership with Meta
• Positive Sentiment: Some analysts view the decline as a buying opportunity, citing strong AI infrastructure demand, robust NAND pricing and Sandisk’s long-term contract backlog. One bullish view places a potential target at $3,000, while other commentary argues that fears of a memory-cycle breakdown are premature. AI Memory Chip Selloff Looks Overblown
• Neutral Sentiment: TSMC’s indication that AI-chip demand remains greater than supply supports the long-term outlook for memory suppliers, but it has not offset near-term concerns about valuation, competition and sector-wide risk reduction.
• Negative Sentiment: Reports that CXMT has made progress in designing and developing server memory are raising fears that Chinese competition could eventually pressure Sandisk’s market share, pricing power and profit margins. Memory Stocks Extend Slide Following News of Design Breakthrough in China
• Negative Sentiment: The memory-stock selloff has broadened across Sandisk, Micron, SK hynix and Samsung, with roughly $1 trillion in combined market value reportedly erased since October 2. A broader AI-trade unwind and an expected eighth consecutive decline for the semiconductor ETF SOXX are adding selling pressure. Chip Meltdown Hits Memory Makers
• Negative Sentiment: Hotter-than-expected U.S. inflation data has increased concern about interest rates and reduced appetite for high-beta technology stocks, further weighing on Sandisk despite its strong AI-related growth prospects. Why Memory Stocks Are Falling

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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