EverSource Wealth Advisors LLC Sells 1,052 Shares of Sandisk Corporation $SNDK

EverSource Wealth Advisors LLC lowered its position in Sandisk Corporation (NASDAQ:SNDK) by 37.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,724 shares of the data storage provider’s stock after selling 1,052 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Sandisk were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. California State Teachers Retirement System raised its stake in shares of Sandisk by 22.8% during the first quarter. California State Teachers Retirement System now owns 161,778 shares of the data storage provider’s stock worth $102,784,000 after acquiring an additional 30,065 shares in the last quarter. Regal Partners Ltd purchased a new stake in shares of Sandisk in the 1st quarter valued at $480,000. Empowered Funds LLC grew its holdings in shares of Sandisk by 292.7% during the 1st quarter. Empowered Funds LLC now owns 32,842 shares of the data storage provider’s stock valued at $20,866,000 after purchasing an additional 24,479 shares during the last quarter. IMG Wealth Management Inc. bought a new position in shares of Sandisk during the 1st quarter valued at $29,000. Finally, Quantinno Capital Management LP raised its position in Sandisk by 38.3% in the 1st quarter. Quantinno Capital Management LP now owns 66,953 shares of the data storage provider’s stock worth $42,538,000 after purchasing an additional 18,553 shares during the period.

Insider Activity

In related news, Director Necip Sayiner sold 579 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the sale, the director directly owned 2,900 shares of the company’s stock, valued at $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was 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 directly owned 31,515 shares in the company, valued at $65,803,320. The trade was a 1.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 6,225 shares of company stock valued at $10,166,297. 0.21% of the stock is currently owned by insiders.

Sandisk Stock Down 5.1%

NASDAQ:SNDK opened at $1,214.83 on Friday. The company has a fifty day moving average of $1,729.14 and a 200 day moving average of $1,116.58. Sandisk Corporation has a 52 week low of $40.10 and a 52 week high of $2,354.39. The firm has a market capitalization of $179.90 billion, a P/E ratio of 42.23 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating the consensus estimate of $14.17 by $9.24. The business had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company’s quarterly revenue was up 251.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.30) EPS. As a group, analysts anticipate that Sandisk Corporation will post 64.52 EPS for the current year.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI infrastructure spending remains a major potential growth driver. Analysts point to more than $750 billion in expected 2026 Big Tech capital expenditures, which could support demand for Sandisk’s enterprise storage and memory products. Buy 5 AI Infrastructure Stocks as Big Tech’s Assure Lasting AI Frenzy
• Positive Sentiment: Microsoft’s roughly $190 billion capital-spending commitment and strong AI-related results helped revive optimism about data-center demand. Samsung also reported a sharp increase in chip profit and expects memory shortages to persist into 2028, supporting the broader industry outlook. Why Memory Stocks Are Roaring Back
• Positive Sentiment: Several bullish analyses argue that AI inference and enterprise storage may structurally improve NAND demand. Sandisk has reportedly exceeded earnings and revenue expectations for five consecutive quarters, while analysts have continued raising estimates. Sandisk’s Biggest Opportunity Yet
• Neutral Sentiment: Options traders expect a significant move around the August 5 earnings release. The event could bring a sharp rebound if results and guidance confirm AI demand, but it also creates elevated downside risk if expectations are missed. SanDisk Q4 Earnings Options Outlook
• Negative Sentiment: Investors remain concerned that Chinese competition could intensify another NAND downturn. Some analysts also warn that the AI boom may moderate before 2029, making Sandisk’s elevated valuation and ambitious price targets vulnerable. Sandisk Stock Slides as Chinese Competition Rattles NAND Outlook
• Negative Sentiment: The rapid reversal in memory stocks and recent forced selling have weakened sentiment, with Sandisk’s technical indicators reaching deeply oversold levels. That may attract bargain hunters, but it also highlights how sharply expectations and momentum have deteriorated. Is the Sandisk Stock Crash Over?

Analyst Ratings Changes

SNDK has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. Zacks Research cut Sandisk from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Cantor Fitzgerald lifted their price objective on Sandisk from $1,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Mizuho boosted their target price 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, Susquehanna lowered their target price on Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating for the company in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,811.38.

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.