Sandisk (NASDAQ:SNDK) Trading Down 11.4% on Insider Selling

Sandisk Corporation (NASDAQ:SNDK)’s stock price was down 11.4% during mid-day trading on Friday following insider selling activity. The company traded as low as $1,514.36 and last traded at $1,559.32. Approximately 12,989,804 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 17,408,422 shares. The stock had previously closed at $1,759.68.

Specifically, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $1,736.00, for a total value of $1,041,600.00. Following the completion of the transaction, the insider owned 32,232 shares in the company, valued at $55,954,752. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the sale, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analyst Weigh In

SNDK has been the topic of a number of analyst reports. Arete Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Zacks Research upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. UBS Group set a $1,700.00 target price on Sandisk in a research report on Monday, May 4th. Sanford C. Bernstein boosted their target price on 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, Mizuho boosted their target price on Sandisk from $1,625.00 to $1,825.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Sandisk has an average rating of “Moderate Buy” and a consensus price target of $1,398.27.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analyst commentary remains constructive, with reports citing bullish views on Sandisk and Morgan Stanley lifting its price target by 59%, signaling expectations for further upside from AI-driven memory demand. SNDK stock hits record high: Morgan Stanley raises PT by 59%, sees further upside ahead
• Positive Sentiment: Several bullish pieces argue Sandisk’s AI storage opportunity is still early, highlighting strong recent revenue growth, high margins, and a favorable memory-supply backdrop that could support fundamentals. Sandisk’s AI Storage Moment Is Just Getting Started
• Neutral Sentiment: Market commentary notes Sandisk was among the standout semiconductor winners this year, but that outsized rally is also making the shares more vulnerable to profit-taking and valuation concerns. Sandisk stock is firing on all cylinders: is a day of reckoning coming?
• Neutral Sentiment: Another article suggests analysts still see Sandisk as a key AI memory beneficiary, reinforcing the long-term demand story even as short-term trading turns volatile. These Experts Say the Memory-Stock Runup May Not Be Over Yet
• Negative Sentiment: Friday’s selloff appears driven by a “parabolic” unwind in semiconductor leaders, with Sandisk and peers Micron and Marvell sliding as investors reduce exposure to overheated AI trades. Micron, Sandisk stocks slide as traders exit high-flying AI plays
• Negative Sentiment: New competition concerns and softer sentiment across tech hardware added to the weakness, suggesting near-term momentum could fade if the sector rotation continues. Micron (MU), SanDisk (SNDK) Stocks Slide after Broadcom Outlook and New Competition Threat

Sandisk Trading Down 11.4%

The firm has a fifty day simple moving average of $1,174.63 and a two-hundred day simple moving average of $695.82. The firm has a market cap of $230.92 billion, a PE ratio of 54.20 and a beta of 4.87.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. The company 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%.Sandisk’s revenue for the quarter was up 251.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities analysts expect that Sandisk Corporation will post 63.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNDK. Parallel Advisors LLC increased its holdings in shares of Sandisk by 233.3% in the 1st quarter. Parallel Advisors LLC now owns 1,430 shares of the data storage provider’s stock worth $909,000 after purchasing an additional 1,001 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Sandisk by 187.2% in the 1st quarter. NewEdge Advisors LLC now owns 18,129 shares of the data storage provider’s stock worth $11,518,000 after purchasing an additional 11,817 shares in the last quarter. Keel Point LLC purchased a new position in shares of Sandisk in the 1st quarter worth $314,000. Glenmede Trust Co. NA boosted its stake in shares of Sandisk by 76.4% in the 1st quarter. Glenmede Trust Co. NA now owns 2,754 shares of the data storage provider’s stock worth $1,750,000 after buying an additional 1,193 shares during the last quarter. Finally, Liontrust Investment Partners LLP purchased a new position in shares of Sandisk in the 1st quarter worth $11,892,000.

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.