Waverly Advisors LLC Sells 696 Shares of Sandisk Corporation $SNDK

Key Points

• Waverly Advisors cut its Sandisk stake by 28.2% in the second quarter, selling 696 shares and retaining 1,768 shares valued at approximately $4.02 million. Other institutions, including Handelsbanken Fonder and ProShare Advisors, increased their positions.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $1,998.14. Sandisk also exceeded quarterly earnings expectations, reporting $39.25 in EPS and $8.96 billion in revenue, up 371.6% year over year.
• Sandisk authorized a $14 billion share-repurchase program, while insiders sold shares worth roughly $14.8 million over the past 90 days. The stock remains highly volatile after a major rally, with concerns about profit-taking and the durability of the NAND upcycle.

Waverly Advisors LLC lowered its stake in shares of Sandisk Corporation (NASDAQ:SNDK - Free Report) by 28.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,768 shares of the data storage provider's stock after selling 696 shares during the period. Waverly Advisors LLC's holdings in Sandisk were worth $4,020,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNDK. Handelsbanken Fonder AB lifted its position in shares of Sandisk by 35.1% during the second quarter. Handelsbanken Fonder AB now owns 57,564 shares of the data storage provider's stock valued at $130,885,000 after purchasing an additional 14,964 shares in the last quarter. Allworth Financial LP grew its position in Sandisk by 84.2% in the 4th quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider's stock worth $1,073,000 after purchasing an additional 2,067 shares in the last quarter. Tredje AP fonden purchased a new stake in Sandisk in the 4th quarter valued at about $7,821,000. ProShare Advisors LLC increased 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 valued at $7,985,000 after buying an additional 31,237 shares during the last quarter. Finally, FourThought Financial Partners LLC bought a new position in shares of Sandisk during the 4th quarter worth approximately $422,000.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Weiss Ratings upgraded Sandisk from a "hold (c)" rating to a "buy (b-)" rating in a research note on Thursday, August 27th. Bank of America lifted their price target on Sandisk from $2,100.00 to $2,500.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Jefferies Financial Group reissued a "buy" rating on shares of Sandisk in a research report on Thursday, August 6th. UBS Group restated an "overweight" rating and issued a $1,750.00 price objective on shares of Sandisk in a research note on Friday, August 14th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $2,200.00 target price on shares of Sandisk in a research report on Thursday, August 13th. Two investment 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 MarketBeat, Sandisk has a consensus rating of "Moderate Buy" and a consensus price target of $1,998.14.

Sandisk Stock Down 3.5%

Shares of SNDK stock opened at $1,633.35 on Friday. The company has a 50 day moving average of $1,517.76 and a 200-day moving average of $1,323.44. Sandisk Corporation has a 12-month low of $82.28 and a 12-month high of $2,354.39. The firm has a market cap of $239.15 billion, a P/E ratio of 22.41, a PEG ratio of 0.17 and a beta of 5.17.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping analysts' consensus estimates of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The company had revenue of $8.96 billion for the quarter. During the same period last year, the firm posted $0.29 EPS. The company's revenue for the quarter was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, equities analysts expect that Sandisk Corporation will post 208.92 EPS for the current year.

Sandisk declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 5th that allows the company to buyback $14.00 billion in shares. This buyback authorization allows the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk remains a major beneficiary of rising artificial-intelligence infrastructure spending. Analysts point to multi-year contracted revenue, stronger NAND demand and the potential for sustained pricing power among memory suppliers. The Next Phase of the AI Boom Could Be Great News for NVIDIA, Micron, and SanDisk
• Positive Sentiment: A bullish long-term view argues that SanDisk’s emphasis on longer-term contractual pricing could reduce the historical volatility of NAND markets. Management’s projections for strong revenue growth and gross margins above 80% through 2030 support the optimistic thesis. Sandisk Shares Could Double (Or More) By 2030
• Positive Sentiment: Memory stocks initially received support from continued AI spending, including developments involving Oracle, helping SanDisk rise in premarket trading before broader selling emerged later in the session. Why Are Memory Chip Stocks Rising in Pre-Market Trading?
• Neutral Sentiment: SanDisk’s 2,107% one-year advance has made valuation and momentum major investor considerations. The exceptional gain increases the likelihood of profit-taking, even if the underlying AI opportunity remains intact. Morningstar on SanDisk’s 2,107% Year
• Neutral Sentiment: Investor commentary is divided: some see substantial long-term upside, while another analysis warns that the current NAND upcycle could weaken by 2027. This highlights the stock’s sensitivity to memory pricing and cyclical demand. Sandisk: NAND Party Likely To End In 2027
• Negative Sentiment: Storage and memory equities sold off as concerns about software efficiency and the sustainability of AI-related spending weighed on the sector. Seagate’s decline reinforced the industry-wide pressure. SanDisk Stock Drops Friday Afternoon
• Negative Sentiment: Investors continued taking profits after the sharp rally, while higher oil prices and inflation concerns raised fears of higher interest rates—particularly negative for high-beta technology stocks such as SNDK. Why Are Memory Stocks Falling?

Insider Buying and Selling at Sandisk

In other news, insider Bernard Shek sold 2,308 shares of the stock in a transaction on Tuesday, September 8th. The stock was 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 in the company, valued at approximately $44,722,285.65. This represents a 8.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Sandisk stock in a transaction dated 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 sale, the executive vice president directly owned 44,134 shares of the company's stock, valued at approximately $67,991,957.72. This trade represents a 9.65% decrease in their position. 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 90 days, insiders sold 9,220 shares of company stock worth $14,829,223. Corporate insiders own 0.21% of the company's stock.

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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