OneAscent Financial Services LLC Buys Shares of 550 Sandisk Corporation $SNDK

OneAscent Financial Services LLC purchased a new stake in shares of Sandisk Corporation (NASDAQ:SNDK) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 550 shares of the data storage provider’s stock, valued at approximately $1,252,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Sandisk in the 2nd quarter valued at approximately $23,408,732,000. State Street Corp grew its holdings in Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock worth $1,253,728,000 after acquiring an additional 904,933 shares during the last quarter. Geode Capital Management LLC increased its position in Sandisk by 44.9% in the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after acquiring an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after acquiring an additional 828,332 shares during the period. Finally, Morgan Stanley raised its stake in shares of Sandisk by 7.2% during the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after acquiring an additional 199,545 shares during the last quarter.

Analyst Ratings Changes

SNDK has been the topic of several analyst reports. Citigroup reduced their price objective on shares of Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Melius Research set a $2,350.00 target price on Sandisk in a research report on Monday, May 18th. The Goldman Sachs Group reiterated a “buy” rating and issued a $2,200.00 price target on shares of Sandisk in a research report on Thursday, August 13th. Wedbush reissued an “outperform” rating and issued a $2,000.00 price target on shares of Sandisk in a research note on Friday, August 14th. Finally, Mizuho set a $1,900.00 price objective on Sandisk in a research note on Friday, August 14th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $1,999.27.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wall Street is increasingly focused on SanDisk’s long-term earnings potential. Rising AI-generated data is expected to drive demand for high-capacity NAND storage, while the company’s contract-based sales strategy could make results and margins more predictable than in past memory cycles. SanDisk’s long-term financial outlook is turning heads on Wall Street
• Positive Sentiment: Several analyses argue that AI infrastructure demand could support substantially higher earnings and potentially enable margins near 80%, challenging the view that SanDisk remains solely a commodity memory producer. From Commodity to Cash Machine? SanDisk Targets 80% Margins in AI Storage Boom
• Positive Sentiment: Market commentary remains bullish on SanDisk’s upside earnings potential despite weakness across memory stocks, with the broader thesis that every additional byte created by AI requires a storage destination. SanDisk Thesis: Every Byte AI Creates Needs A Home
• Neutral Sentiment: Technical traders are watching for a rebound toward the mid-$1,600s, with resistance near $1,696.50 and support around $1,485. This suggests elevated volatility rather than a clear change in fundamentals. What’s Going On With SanDisk Stock Thursday?
• Neutral Sentiment: Investor opinion is divided after the stock’s extraordinary 12-month advance; some hedge funds remain optimistic, while others are reducing exposure or taking profits. SanDisk Is Up 3,911% Over Twelve Months
• Negative Sentiment: Shares faced pressure alongside Micron and other memory companies as an Asian technology selloff highlighted continuing sector volatility. Why Are Micron and SanDisk Stocks Falling Today
• Negative Sentiment: Investors are questioning the durability of SanDisk’s record revenue because roughly two-thirds reportedly came from pricing, leaving results vulnerable if NAND prices weaken. SanDisk drops before OCP Korea Tech Day
• Negative Sentiment: Appaloosa, managed by David Tepper, exited its entire 281,250-share SanDisk position during the quarter in which the stock reached its recent high, adding profit-taking and valuation concerns. David Tepper Sold His Entire Sandisk Stake

Insider Activity at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total value of $697,296.00. Following the completion of the sale, the insider owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the company’s stock in a transaction that occurred 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 directly owned 52,677 shares in the company, valued at $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. In the last quarter, insiders sold 3,800 shares of company stock worth $6,504,856. Corporate insiders own 0.21% of the company’s stock.

Sandisk Stock Performance

Shares of SNDK stock opened at $1,600.62 on Friday. The company has a market cap of $234.36 billion, a P/E ratio of 21.96, a PEG ratio of 0.16 and a beta of 5.20. The stock has a 50 day simple moving average of $1,663.24 and a two-hundred day simple moving average of $1,217.48. Sandisk Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $2,354.39.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm had revenue of $8.96 billion for the quarter. During the same period last year, the firm posted $0.29 earnings per share. Sandisk’s quarterly revenue was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, research analysts predict that Sandisk Corporation will post 208.92 earnings per share for the current year.

Sandisk declared that its board has authorized a share repurchase plan on Wednesday, August 5th that allows the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.