104,927 Shares in Sandisk Corporation $SNDK Purchased by Delta Global Management LP

Delta Global Management LP purchased a new position in shares of Sandisk Corporation (NASDAQ:SNDK) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 104,927 shares of the data storage provider’s stock, valued at approximately $24,908,000. Sandisk makes up approximately 1.2% of Delta Global Management LP’s holdings, making the stock its 20th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP lifted its position in Sandisk by 84.2% during the 4th quarter. Allworth Financial LP now owns 4,521 shares of the data storage provider’s stock valued at $1,073,000 after purchasing an additional 2,067 shares during the period. Tredje AP fonden acquired a new position in Sandisk during the 4th quarter valued at about $7,821,000. ProShare Advisors LLC lifted its position in Sandisk by 1,301.5% during the 4th quarter. ProShare Advisors LLC now owns 33,637 shares of the data storage provider’s stock valued at $7,985,000 after purchasing an additional 31,237 shares during the period. FourThought Financial Partners LLC acquired a new position in Sandisk during the 4th quarter valued at about $422,000. Finally, North Dakota State Investment Board acquired a new position in Sandisk during the 4th quarter valued at about $1,127,000.

Insider Buying and Selling

In related news, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the transaction, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $870,300.69. Following the completion of the transaction, the director owned 2,900 shares in the company, valued at approximately $4,359,019. This represents a 16.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,625 shares of company stock worth $8,913,497 over the last three months. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SNDK shares. Barclays raised Sandisk from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Morgan Stanley upped their price target on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,400.00 price target on shares of Sandisk in a research note on Friday, May 1st. Mizuho upped their price target on Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Finally, Sanford C. Bernstein upped their price target on Sandisk from $1,250.00 to $1,700.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Three 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 stock. According to data from MarketBeat, Sandisk has a consensus rating of “Moderate Buy” and an average target price of $1,580.67.

Sandisk Stock Performance

SNDK opened at $2,107.86 on Tuesday. Sandisk Corporation has a fifty-two week low of $40.10 and a fifty-two week high of $2,119.90. The company has a market capitalization of $312.15 billion, a P/E ratio of 73.27 and a beta of 4.88. The stock has a fifty day moving average of $1,316.23 and a 200-day moving average of $766.22.

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

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.