Sequoia Financial Advisors LLC Sells 646 Shares of Sandisk Corporation $SNDK

Key Points

• Sequoia Financial Advisors reduced its Sandisk stake by 11.8%, selling 646 shares and retaining 4,829 shares valued at approximately $10.98 million. Other institutional investors made mostly modest increases to their positions.
• Analysts remain broadly optimistic: Sandisk has a “Moderate Buy” consensus rating and an average price target of $1,998.14, supported by strong AI-related NAND demand. However, Zacks downgraded the stock to Hold amid valuation and volatility concerns.
• Sandisk reported quarterly earnings of $39.25 per share, beating expectations, while revenue surged 371.6% year over year. The company also authorized a $14 billion share-repurchase program, even as insiders sold shares worth about $14.8 million under pre-arranged trading plans.

Sequoia Financial Advisors LLC reduced its stake in Sandisk Corporation (NASDAQ:SNDK - Free Report) by 11.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,829 shares of the data storage provider's stock after selling 646 shares during the period. Sequoia Financial Advisors LLC's holdings in Sandisk were worth $10,980,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SNDK. Dogwood Wealth Management LLC grew its holdings in shares of Sandisk by 14.3% in the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider's stock worth $109,000 after acquiring an additional 6 shares during the period. Nilsine Partners LLC lifted its holdings in shares of Sandisk by 3.2% in the second quarter. Nilsine Partners LLC now owns 226 shares of the data storage provider's stock worth $514,000 after buying an additional 7 shares in the last quarter. Insight Wealth Partners LLC increased its position in Sandisk by 0.4% in the second quarter. Insight Wealth Partners LLC now owns 1,607 shares of the data storage provider's stock worth $3,654,000 after purchasing an additional 7 shares during the last quarter. Cornerstone Financial Management LLC lifted its holdings in shares of Sandisk by 60.0% in the 2nd quarter. Cornerstone Financial Management LLC now owns 24 shares of the data storage provider's stock worth $55,000 after acquiring an additional 9 shares during the last quarter. Finally, Castle Rock Wealth Management LLC grew its stake in shares of Sandisk by 2.4% during the second quarter. Castle Rock Wealth Management LLC now owns 426 shares of the data storage provider's stock valued at $969,000 after buying an additional 10 shares during the last quarter.

Wall Street Analysts Forecast Growth

SNDK has been the topic of several research reports. Susquehanna cut their price objective on shares of Sandisk from $3,250.00 to $3,050.00 and set a "positive" rating on the stock in a report on Thursday, July 23rd. Barclays upgraded shares of Sandisk from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. New Street Research set a $3,000.00 price target on Sandisk in a report on Thursday, August 6th. Zacks Research cut Sandisk from a "strong-buy" rating to a "hold" rating in a research note on Monday. Finally, Bank of America boosted their price target on shares of Sandisk from $2,100.00 to $2,500.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,998.14.

Insider Buying and Selling

In other news, EVP Alper Ilkbahar sold 4,712 shares of the company's stock in a transaction on Thursday, September 3rd. The shares were 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 in the company, valued at approximately $67,991,957.72. This represents a 9.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of the company's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the completion of the transaction, the insider owned 25,305 shares of the company's stock, valued at $44,722,285.65. This represents a 8.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,220 shares of company stock valued at $14,829,223 over the last ninety days. 0.21% of the stock is currently owned by corporate insiders.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven NAND demand remains a long-term support. Analysts continue to point to strong data-center and artificial-intelligence infrastructure demand, tight memory supply and potentially higher NAND prices as reasons for optimism about Sandisk’s earnings and margins. Memory prices and Sandisk article
• Positive Sentiment: Citi maintained its Buy rating and $2,100 price target. The analyst cited strengthening AI-related NAND demand, leaving the target above the company’s current trading level. Citi Sandisk rating article
• Neutral Sentiment: Investors remain divided after an extraordinary rally. Sandisk has gained more than 600% year to date, creating substantial momentum but also raising questions about valuation, sustainability of margins and the risk of additional profit-taking. A Goldman Sachs view that the memory downturn may be easing provides sector support, although it has not prevented near-term volatility. Memory stocks outlook article
• Negative Sentiment: Macro conditions triggered a broad technology selloff. Higher oil prices intensified concerns that inflation could keep interest rates elevated, weighing particularly heavily on high-beta growth stocks such as SNDK and its memory-chip peers. Memory stocks falling article
• Negative Sentiment: Rating and insider-selling headlines added pressure. Zacks Research downgraded Sandisk from Strong Buy to Hold, while executives disclosed sales totaling millions of dollars. The transactions were made under pre-arranged Rule 10b5-1 plans, limiting their significance, but they may still reinforce profit-taking concerns. Sandisk insider trading article

Sandisk Trading Down 4.1%

Shares of SNDK opened at $1,692.59 on Friday. The firm has a market capitalization of $247.83 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 0.18 and a beta of 5.17. The firm's fifty day simple moving average is $1,520.00 and its 200-day simple moving average is $1,321.26. Sandisk Corporation has a twelve month low of $81.38 and a twelve month high of $2,354.39.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, beating analysts' consensus estimates of $33.28 by $5.97. The company had revenue of $8.96 billion for the quarter. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm's quarterly revenue was up 371.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current fiscal year.

Sandisk announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 5th that permits the company to repurchase $14.00 billion in shares. This repurchase authorization permits the data storage provider to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

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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