Permit Capital LLC Invests $4.23 Million in Sandisk Corporation $SNDK

Permit Capital LLC acquired a new stake in Sandisk Corporation (NASDAQ:SNDK) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 37,683 shares of the data storage provider’s stock, valued at approximately $4,228,000. Sandisk makes up approximately 1.3% of Permit Capital LLC’s holdings, making the stock its 20th largest position.

Several other hedge funds have also added to or reduced their stakes in SNDK. Osaic Holdings Inc. acquired a new position in Sandisk in the second quarter valued at about $317,000. Corient Private Wealth LLC acquired a new stake in Sandisk during the 2nd quarter worth approximately $353,000. Praxis Investment Management Inc. acquired a new stake in Sandisk during the 3rd quarter worth approximately $533,000. GAMMA Investing LLC bought a new position in Sandisk in the third quarter valued at approximately $439,000. Finally, Voya Investment Management LLC acquired a new position in shares of Sandisk in the third quarter valued at approximately $8,917,000.

Analyst Ratings Changes

SNDK has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Barclays increased their target price on Sandisk from $385.00 to $750.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. Jefferies Financial Group lifted their price target on Sandisk from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Sanford C. Bernstein upped their price objective on Sandisk from $300.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Finally, Wall Street Zen upgraded Sandisk from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sandisk presently has a consensus rating of “Moderate Buy” and an average price target of $542.85.

Insider Buying and Selling at Sandisk

In other news, Director Necip Sayiner sold 1,271 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total transaction of $248,022.94. Following the sale, the director owned 3,479 shares in the company, valued at $678,892.06. This represents a 26.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.21% of the stock is owned by company insiders.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Surging NAND prices are materially improving Sandisk’s pricing power and margins, reinforcing the thesis that memory tightness and AI/storage demand can sustain elevated profitability. Article Title
• Positive Sentiment: An analyst-derived price target lift (to ~$698) signals continued buy-side optimism and gives a valuation anchor above the trading level, supporting upside from further upgrades. Article Title
• Positive Sentiment: Rapid retail/ETF interest is amplifying flows into SNDK exposure — the new leveraged SNXX ETF gathered ~$650M in under a month, likely increasing short‑term liquidity and volatility (and providing additional demand for underlying shares). Article Title
• Positive Sentiment: Market commentaries highlight Sandisk’s central role in the AI storage supply squeeze — structural demand for NAND in data centers supports a multi‑quarter earnings tailwind. Article Title
• Neutral Sentiment: Valuation writeups note Sandisk’s sharp rally has bumped multiples; analysts are re‑examining fair value after the run — useful context but not an immediate catalyst. Article Title
• Neutral Sentiment: Options market and flow analyses show elevated retail/derivative activity — increases trading volume and gamma risk but ambiguous for direction. Article Title
• Negative Sentiment: Citron Research initiated a short/critical note arguing NAND is cyclical, Samsung dominates the market, and retail positioning is crowded — the short call sparked selling and increased downside risk if cycle turns. Article Title
• Negative Sentiment: Notable investor moves (e.g., reports that Stanley Druckenmiller exited SNDK) raise questions about near‑term positioning and can pressure the stock if large holders trim after the earnings‑driven run. Article Title

Sandisk Trading Down 4.2%

Sandisk stock opened at $638.52 on Wednesday. The company has a market cap of $94.25 billion and a price-to-earnings ratio of -84.13. The firm has a 50-day moving average of $444.97 and a 200-day moving average of $249.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92. Sandisk Corporation has a one year low of $27.89 and a one year high of $725.00.

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

Sandisk 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.