State of Alaska Department of Revenue Sells 55,335 Shares of Sandisk Corporation $SNDK

State of Alaska Department of Revenue lessened its position in shares of Sandisk Corporation (NASDAQ:SNDK) by 79.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,120 shares of the data storage provider’s stock after selling 55,335 shares during the period. State of Alaska Department of Revenue’s holdings in Sandisk were worth $3,350,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. bought a new position in Sandisk during the third quarter worth $1,970,388,000. State Street Corp bought a new position in Sandisk during the third quarter worth $491,053,000. Arrowstreet Capital Limited Partnership bought a new position in Sandisk during the third quarter worth $297,293,000. Bank of America Corp DE bought a new position in Sandisk during the third quarter worth $190,425,000. Finally, AQR Capital Management LLC bought a new position in Sandisk during the third quarter worth $163,057,000.

Sandisk Trading Up 3.1%

NASDAQ:SNDK opened at $919.47 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92. The firm has a 50-day moving average of $676.08 and a 200-day moving average of $409.39. The company has a market cap of $135.71 billion, a PE ratio of -121.14 and a beta of 5.04. Sandisk Corporation has a one year low of $28.94 and a one year high of $965.00.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, topping the consensus estimate of $3.31 by $2.89. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.67 billion. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. Sandisk’s revenue was up 61.2% on a year-over-year basis.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Evercore initiated coverage with an “outperform” and a $1,200 price target, highlighting a large upside case and validating institutional interest. Evercore initiates coverage
• Positive Sentiment: Evercore/other outlets are publishing very bullish upside scenarios (one Evercore note cited a large % upside), which fuels retail and institutional momentum and supports higher price targets and flows. Evercore 191% upside story
• Positive Sentiment: Nasdaq‑100 inclusion (effective April 20) is expected to force index/passive buying, creating a structural demand tailwind for SNDK shares. That mechanical flow is widely cited as a key near‑term driver. The $600 Billion Buy Signal For SanDisk Stock
• Neutral Sentiment: Analysts and comparison pieces (e.g., vs. Marvell/Micron) emphasize that AI data‑center demand is reshaping NAND economics; these comparisons help frame valuation but don’t change the core growth story. Sandisk vs. Marvell: Which AI Infrastructure Stock Should You Buy?
• Positive Sentiment: Recent analyst upgrades (Arete and others) add to buying pressure and signal fresh sell‑side conviction. Sandisk Upgraded at Arete Research
• Negative Sentiment: SeekAlpha and others warn of a “sell‑the‑news” risk around the Nasdaq‑100 inclusion and upcoming Q3 earnings (April 30), suggesting technical profit‑taking or a short‑term pullback after the inclusion event. Sell the News warning
• Negative Sentiment: Recent intra‑day pullbacks in memory peers and SNDK (profit‑taking reports) indicate the sector is susceptible to short‑term reversals after a historic run — a reminder that momentum can pause even with a bullish long‑term thesis. Memory stocks taking a breather

Analyst Upgrades and Downgrades

SNDK has been the subject of several research analyst reports. Morgan Stanley set a $690.00 price target on shares of Sandisk in a research note on Friday, January 30th. Cantor Fitzgerald upped their price objective on shares of Sandisk from $800.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Barclays upped their price objective on shares of Sandisk from $385.00 to $750.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Citigroup upped their price objective on shares of Sandisk from $875.00 to $980.00 and gave the company a “buy” rating in a report on Monday. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $650.00 price objective on shares of Sandisk in a research note on Friday, January 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $684.50.

Insider Activity at Sandisk

In other news, Director Miyuki Suzuki sold 3,500 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the completion of the sale, the director directly owned 9,907 shares of the company’s stock, valued at $6,216,939.71. The trade was a 26.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by insiders.

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.