Squarepoint Ops LLC Grows Position in Sandisk Corporation $SNDK

Squarepoint Ops LLC raised its position in Sandisk Corporation (NASDAQ:SNDK) by 1,003.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 479,183 shares of the data storage provider’s stock after purchasing an additional 435,742 shares during the quarter. Squarepoint Ops LLC’s holdings in Sandisk were worth $113,748,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SNDK. Vanguard Group Inc. purchased a new position in shares of Sandisk in the 3rd quarter worth about $1,970,388,000. State Street Corp purchased a new position in shares of Sandisk in the 3rd quarter worth about $491,053,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Sandisk in the 3rd quarter worth about $297,293,000. Norges Bank purchased a new position in shares of Sandisk in the 4th quarter worth about $518,889,000. Finally, Bank of America Corp DE purchased a new position in shares of Sandisk in the 3rd quarter worth about $190,425,000.

Insider Buying and Selling

In related news, EVP Alper Ilkbahar sold 2,000 shares of the firm’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 approximately $92,531,364.66. This trade represents a 3.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Necip Sayiner sold 579 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the sale, the director owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 5,625 shares of company stock valued at $8,913,497. Corporate insiders own 0.21% of the company’s stock.

Sandisk Stock Performance

Shares of NASDAQ:SNDK opened at $2,107.86 on Tuesday. The company has a market cap of $312.15 billion, a P/E ratio of 73.27 and a beta of 4.88. Sandisk Corporation has a one year low of $40.10 and a one year high of $2,119.90. The business’s 50-day simple moving average is $1,316.23 and its 200 day simple moving average is $766.22.

Sandisk (NASDAQ:SNDK) last announced its earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, beating the consensus estimate of $14.17 by $9.24. The business had revenue of $5.95 billion for the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The business’s quarterly revenue was up 251.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts predict that Sandisk Corporation will post 64.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Bank of America raised their price objective on Sandisk from $1,550.00 to $2,100.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Royal Bank Of Canada raised their price objective on Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Wells Fargo & Company raised their price objective on Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Wedbush raised their price objective on Sandisk from $740.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,580.67.

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.