Sandisk (NASDAQ:SNDK) Trading Down 14.1% After Insider Selling

Sandisk Corporation (NASDAQ:SNDK)’s share price dropped 14.1% during mid-day trading on Thursday following insider selling activity. The company traded as low as $1,693.00 and last traded at $1,745.00. 17,130,969 shares were traded during trading, an increase of 3% from the average daily volume of 16,637,529 shares. The stock had previously closed at $2,032.22.

Specifically, insider Bernard Shek sold 600 shares of Sandisk stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the completion of the sale, the insider owned 31,515 shares in the company, valued at approximately $65,803,320. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Several research analysts have recently commented on SNDK shares. UBS Group set a $1,700.00 price target on shares of Sandisk in a report on Monday, May 4th. Morgan Stanley raised their price target on Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Bank of America upped their price target on shares of Sandisk from $2,100.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Cantor Fitzgerald boosted their price objective on Sandisk from $1,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Sandisk currently has an average rating of “Moderate Buy” and a consensus price target of $1,684.24.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk announced it has started production of its 10th-generation 3D flash memory with Kioxia at the Kitakami plant, and separately said it is sampling BiCS10 1Tb TLC 3D NAND. Both updates point to higher density, better power efficiency, and more capacity for data-center and AI workloads. Article Title Article Title
• Positive Sentiment: Analysts remained constructive on Sandisk, with China Renaissance lifting its price target sharply on strong AI storage demand and Bank of America raising its target to $2,500 while keeping a buy rating. Article Title
• Positive Sentiment: Commentary from several outlets says the recent selloff may be a pullback after a huge first-half rally, with some investors viewing the weakness as a buying opportunity rather than a change in the underlying growth thesis. Article Title
• Neutral Sentiment: MarketBeat’s week-in-review noted Sandisk as a poster child for tech-sector volatility, reflecting how much the stock can swing on sector rotation and sentiment shifts. Article Title
• Negative Sentiment: Sandisk shares have been hit by a broader selloff in AI chip and memory stocks as investors rotate toward AI software, and some reports also cite profit-taking and memory supply-glut fears. Article Title Article Title
• Negative Sentiment: Insider Bernard Shek sold 600 shares under a pre-arranged 10b5-1 plan, a routine filing but still a mild caution flag for sentiment. Article Title

Sandisk Stock Performance

The firm has a 50 day moving average price of $1,650.22 and a 200-day moving average price of $942.09. The company has a market cap of $258.42 billion, a P/E ratio of 60.65 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data 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. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The company had revenue of $5.95 billion for the quarter. During the same period in the previous year, the business posted ($0.30) EPS. Sandisk’s revenue for the quarter 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, sell-side analysts forecast that Sandisk Corporation will post 64.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Sandisk

A number of large investors have recently modified their holdings of SNDK. Versant Capital Management Inc increased its position in Sandisk by 2.5% in the 2nd quarter. Versant Capital Management Inc now owns 527 shares of the data storage provider’s stock valued at $1,198,000 after acquiring an additional 13 shares during the period. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Sandisk in the 2nd quarter valued at $34,000. Hilltop National Bank bought a new position in shares of Sandisk during the 2nd quarter worth about $205,000. First Financial Bank Trust Division acquired a new position in shares of Sandisk during the second quarter worth approximately $546,000. Finally, Basecamp Wealth Advisors LLC lifted its stake in shares of Sandisk by 7.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 333 shares of the data storage provider’s stock valued at $212,000 after buying an additional 24 shares in the last quarter.

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.