Sandisk (NASDAQ:SNDK) Shares Down 6.2% After Insider Selling

Key Points

• Sandisk shares fell 6.2% in midday trading after insider selling news, with the stock dipping as low as $1,367 before last trading near $1,452.
• Director Necip Sayiner sold 579 shares on May 8 for about $870,300, reducing his direct ownership by 16.64%. The sale was disclosed in an SEC filing.
• Despite the pullback, analysts remain broadly bullish on Sandisk, citing strong AI-related NAND and data-center demand; recent earnings also beat expectations with 251% year-over-year revenue growth.

Shares of Sandisk Corporation (NASDAQ:SNDK - Get Free Report) fell 6.2% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $1,367.00 and last traded at $1,452.02. 16,515,545 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 18,569,943 shares. The stock had previously closed at $1,547.56.

Specifically, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of the transaction, the director directly owned 2,900 shares in the company, valued at $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SNDK. Cantor Fitzgerald boosted their price target on shares of Sandisk from $1,400.00 to $1,800.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. UBS Group set a $1,700.00 price target on shares of Sandisk in a report on Monday, May 4th. Arete Research upgraded shares of Sandisk from a "hold" rating to a "strong-buy" rating in a report on Monday, April 13th. Raymond James Financial restated an "outperform" rating and set a $1,470.00 price target on shares of Sandisk in a report on Friday, May 1st. Finally, Evercore restated an "outperform" rating and set a $1,400.00 price target on shares of Sandisk in a report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,065.81.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts and market commentary continue to point to strong AI-related NAND and data-center demand as the main bull case for Sandisk (SNDK), with upbeat guidance and bullish price targets still supporting the stock. Sandisk Hits 52-Week High: Should You Still Buy the Stock?
• Positive Sentiment: Recent coverage says the AI memory boom is still attracting new money, including ETF interest, which reinforces investor enthusiasm for Sandisk’s role in the storage cycle. Micron, SanDisk Lead AI Memory Rally — Now A 2X ETF Wants In
• Positive Sentiment: SanDisk’s latest earnings were described as a record quarter, suggesting fundamentals are still strong despite the stock’s volatility. SanDisk (SNDK) Delivered a Record Quarter. The AI Storage Bull Case Is Intact
• Neutral Sentiment: One director sold a relatively small number of shares, which may add some caution but does not by itself change the investment thesis. Necip Sayiner Sells 579 Shares of Sandisk NASDAQ: SNDK Stock
• Neutral Sentiment: Some articles warn that the stock is extremely overbought after its parabolic run, so traders may be expecting a pause or pullback. SanDisk stock is in a bull run — but RSI says a pullback may be near
• Negative Sentiment: Memory and storage stocks sold off sharply as investors took profits after the sector’s massive AI-fueled run, pressuring Sandisk (SNDK) along with peers like Micron and Western Digital. Why Sandisk, Micron stock are plunging upto 9% on Tuesday
• Negative Sentiment: Another report says a political shock from South Korea hit the memory trade and triggered a broader chip rout, adding a new near-term headwind for the stock. SanDisk, Micron Stocks Plummet As Korea Shockwave Batters The Great Memory Boom

Sandisk Stock Down 6.2%

The firm's 50-day moving average price is $833.70 and its 200-day moving average price is $520.41. The company has a market cap of $215.03 billion, a P/E ratio of 50.47 and a beta of 4.82.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company had revenue of $5.95 billion for the quarter. During the same period last year, the firm earned ($0.30) EPS. The business's revenue for the quarter was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, analysts forecast that Sandisk Corporation will post 63.93 earnings per share for the current year.

Institutional Trading of Sandisk

Several hedge funds and other institutional investors have recently modified their holdings of SNDK. GHP Investment Advisors Inc. increased its holdings in Sandisk by 12.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider's stock worth $77,000 after acquiring an additional 13 shares during the period. Blair William & Co. IL increased its holdings in Sandisk by 0.3% during the 4th quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider's stock worth $1,255,000 after acquiring an additional 17 shares during the period. Larson Financial Group LLC increased its holdings in Sandisk by 20.2% during the 4th quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider's stock worth $52,000 after acquiring an additional 37 shares during the period. Valley Wealth Managers Inc. bought a new stake in Sandisk during the 1st quarter worth approximately $25,000. Finally, Composition Wealth LLC increased its holdings in Sandisk by 0.4% during the 4th quarter. Composition Wealth LLC now owns 10,299 shares of the data storage provider's stock worth $2,445,000 after acquiring an additional 41 shares during the period.

Sandisk Company 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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