Rep. Josh Gottheimer Acquires Shares of Sandisk Corporation (NASDAQ:SNDK)

Key Points

• Rep. Josh Gottheimer disclosed buying Sandisk shares worth between $1,001 and $15,000 on May 7, according to a filing released June 3.
• Sandisk recently reported blowout quarterly results, with EPS of $23.41 beating estimates and revenue jumping 251% year over year; the company also issued strong Q4 2026 guidance.
• Wall Street remains broadly bullish on the stock, with multiple analyst price target increases and an overall average rating of “Buy,” though insiders have also been selling shares and some reports warn the rally may be crowded.

Representative Josh Gottheimer (Democratic-New Jersey) recently bought shares of Sandisk Corporation NASDAQ: SNDK. In a filing disclosed on June 03rd, the Representative disclosed that they had bought between $1,001 and $15,000 in Sandisk stock on May 7th. The trade occurred in the Representative's "MORGAN STANLEY - SELECT UMA ACCOUNT # 1" account.

Representative Josh Gottheimer also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Abbott Laboratories NYSE: ABT on 5/27/2026.
• Purchased $1,001 - $15,000 in shares of Lumentum NASDAQ: LITE on 5/22/2026.
• Sold $1,001 - $15,000 in shares of Intuit NASDAQ: INTU on 5/22/2026.
• Purchased $1,001 - $15,000 in shares of Micron Technology NASDAQ: MU on 5/21/2026.
• Purchased $1,001 - $15,000 in shares of Analog Devices NASDAQ: ADI on 5/19/2026.
• Sold $1,001 - $15,000 in shares of Tri Pointe Homes NYSE: TPH on 5/15/2026.
• Purchased $1,001 - $15,000 in shares of Palo Alto Networks NASDAQ: PANW on 5/14/2026.
• Sold $1,001 - $15,000 in shares of Nestle OTCMKTS: NSRGY on 5/14/2026.
• Sold $1,001 - $15,000 in shares of Nestle OTCMKTS: NSRGY on 5/5/2026.
• Sold $1,001 - $15,000 in shares of AbbVie NYSE: ABBV on 5/5/2026.

Sandisk Stock Down 3.9%

Sandisk stock opened at $1,759.68 on Friday. The business's 50-day simple moving average is $1,157.00 and its 200 day simple moving average is $689.74. The stock has a market cap of $260.59 billion, a price-to-earnings ratio of 61.16 and a beta of 4.87. Sandisk Corporation has a 12-month low of $37.33 and a 12-month high of $1,861.00.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its earnings results 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. The firm had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. Sandisk's revenue was up 251.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, sell-side analysts expect that Sandisk Corporation will post 63.58 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Valley Wealth Managers Inc. bought a new stake in shares of Sandisk during the first quarter worth $25,000. IMG Wealth Management Inc. bought a new stake in Sandisk in the 1st quarter valued at $29,000. SOA Wealth Advisors LLC. boosted its stake in Sandisk by 108.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider's stock worth $33,000 after purchasing an additional 27 shares during the period. Cedar Mountain Advisors LLC grew its holdings in shares of Sandisk by 2,750.0% during the first quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider's stock worth $36,000 after buying an additional 55 shares in the last quarter. Finally, Roble Belko & Company Inc bought a new position in Sandisk in the first quarter valued at $39,000.

Wall Street Analyst Weigh In

SNDK has been the topic of several recent analyst reports. Barclays raised shares of Sandisk from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Morgan Stanley upped their target price on shares of Sandisk from $1,100.00 to $1,750.00 and gave the company an "overweight" rating in a research note on Wednesday. Royal Bank Of Canada increased their target price on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Sanford C. Bernstein lifted their price target on shares of Sandisk from $1,250.00 to $1,700.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $1,400.00 price target on shares of Sandisk in a report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sandisk currently has an average rating of "Buy" and an average target price of $1,398.27.

Insider Buying and Selling at Sandisk

In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the sale, the chief accounting officer directly owned 22,375 shares of the company's stock, valued at $31,910,777.50. The trade was a 9.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alper Ilkbahar sold 2,000 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the sale, the executive vice president directly owned 52,677 shares in the company, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 5,025 shares of company stock worth $7,871,897. Insiders own 0.21% of the company's stock.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts remain broadly bullish on Sandisk, with recent upgrades and higher price targets reinforcing the view that strong AI-driven NAND demand and tight memory supply can keep earnings and valuation elevated. Article
• Positive Sentiment: Multiple reports highlighted Sandisk as a key beneficiary of the AI infrastructure buildout, suggesting the company could continue to see strong pricing power and demand for its storage products. Article
• Positive Sentiment: Commentary this week said Sandisk’s rally may not be over, with bulls arguing that booming AI memory demand and rising prices could support further upside. Article
• Neutral Sentiment: Sandisk EVP Alper Ilkbahar sold 2,000 shares, a large-dollar transaction but a relatively small portion of his holdings, so investors may view it as routine profit-taking rather than a major warning sign. SEC filing
• Negative Sentiment: One notable headwind is that the AI and chip sector cooled after Broadcom’s weaker-than-expected outlook, dragging down Sandisk along with other memory names on concerns the trade had become crowded. Article
• Negative Sentiment: Another report flagged record-high short interest alongside Sandisk’s soaring stock price, which suggests the move has become crowded and could be vulnerable if momentum fades. Article

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey's 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2027. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey's 5th Congressional District. He declared candidacy for the 2026 election. Gottheimer is also running for election for Governor of New Jersey. He declared candidacy for the Democratic primary scheduled on June 10, 2025. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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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