Sandisk (NASDAQ:SNDK) Stock Falls 7.9% After Insider Selling

Sandisk Corporation (NASDAQ:SNDK) shares were down 7.9% during trading on Wednesday following insider selling activity. The company traded as low as $1,014.00 and last traded at $1,037.40. Approximately 11,308,134 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 14,725,159 shares. The stock had previously closed at $1,126.52.

Specifically, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $1,158.26, for a total value of $694,956.00. Following the sale, the insider directly owned 24,666 shares in the company, valued at $28,569,641.16. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

A number of brokerages have recently commented on SNDK. Argus raised Sandisk from a “hold” rating to a “buy” rating and set a $1,600.00 price target on the stock in a report on Monday, August 10th. Susquehanna decreased their target price on shares of Sandisk from $2,745.00 to $2,720.00 and set a “positive” rating for the company in a research report on Friday, October 30th. Royal Bank Of Canada decreased their target price on shares of Sandisk from $1,600.00 to $1,400.00 and set a “sector perform” rating for the company in a research report on Friday, October 30th. Rosenblatt Securities reissued a “buy” rating and set a $2,400.00 target price on shares of Sandisk in a research note on Friday, October 30th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $2,200.00 price target (up from $1,200.00) on shares of Sandisk in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,056.23.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk’s long-term sales agreements with hyperscalers extend through 2030, supporting revenue visibility. Bullish commentary also argues that AI demand could tighten NAND supply, providing a potential tailwind. Article: Got $5,000? Buy These 2 Growth Stocks Powering the AI Memory Boom
• Neutral Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged trading plan, a relatively small reduction in his holdings that offers limited insight into the company’s outlook. Article: Sandisk insider trades
• Negative Sentiment: Memory stocks sold off after Democratic victories raised investor concerns about tighter AI regulation in 2027 and the possible effect on data-center investment. SanDisk fell alongside Micron and SK Hynix as investors reconsidered the durability of AI infrastructure spending. Article: Why Sandisk Stock Sank Today
• Negative Sentiment: Fox Advisors downgraded Sandisk, adding to pressure on shares already facing concerns about memory-market conditions and expectations after the recent rally. Article: Sandisk Stock Gets Downgrade from Fox Advisors

Sandisk Trading Down 7.9%

The business has a 50-day moving average price of $1,540.16 and a 200 day moving average price of $1,257.96. The company has a market cap of $147.61 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 0.09 and a beta of 5.66.

Sandisk shares are scheduled to split on the morning of Friday, November 20th. The 8-1 split was announced on Thursday, October 29th. The newly created shares will be payable to shareholders after the closing bell on Thursday, November 19th.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Thursday, October 29th. The data storage provider reported $49.51 earnings per share for the quarter, topping analysts’ consensus estimates of $46.19 by $3.32. Sandisk had a return on equity of 125.70% and a net margin of 67.04%. The firm had revenue of $11.03 billion for the quarter. During the same period in the prior year, the business posted $1.22 EPS. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, analysts anticipate that Sandisk Corporation will post 212.95 earnings per share for the current year.

Sandisk announced that its board has initiated a share buyback plan on Wednesday, August 5th that permits the company to buy back $14 billion in outstanding shares. This buyback authorization permits the data storage provider to repurchase up to 6.6% of its shares through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Sandisk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNDK. Atomic Invest LLC bought a new stake in shares of Sandisk in the 2nd quarter valued at about $25,000. Dunhill Financial LLC bought a new stake in Sandisk during the second quarter valued at $30,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Sandisk in the 2nd quarter worth about $32,000. Kilter Group LLC acquired a new stake in shares of Sandisk during the 2nd quarter worth approximately $32,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new position in shares of Sandisk during the 2nd quarter valued at $34,000.

About Sandisk

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.