Sandisk (NASDAQ:SNDK) Trading Down 5.3% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK) was down 5.3% during trading on Monday . The company traded as low as $1,277.33 and last traded at $1,333.01. Approximately 13,734,956 shares were traded during trading, a decline of 25% from the average daily volume of 18,324,469 shares. The stock had previously closed at $1,407.61.

Analysts Set New Price Targets

SNDK has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Sandisk from $975.00 to $1,250.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Royal Bank Of Canada boosted their price target on Sandisk from $650.00 to $1,000.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Melius Research set a $2,350.00 price target on Sandisk in a research note on Monday. Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. Finally, KGI Securities initiated coverage on Sandisk in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,124.18.

Sandisk Stock Down 5.3%

The company has a market cap of $197.41 billion, a PE ratio of 46.33 and a beta of 4.82. The stock’s 50 day simple moving average is $899.12 and its two-hundred day simple moving average is $555.71.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.17 by $9.24. The company 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 firm’s quarterly revenue was up 251.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts forecast that Sandisk Corporation will post 63.58 EPS for the current year.

Insider Buying and Selling at Sandisk

In other news, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the transaction, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at $31,910,777.50. The trade was a 9.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Miyuki Suzuki sold 3,500 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total value of $2,196,355.00. Following the sale, the director owned 9,907 shares of the company’s stock, valued at $6,216,939.71. The trade was a 26.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 6,525 shares of company stock valued at $6,555,092. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SNDK. GHP Investment Advisors Inc. raised its stake in shares of Sandisk by 12.0% in the 1st quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock valued at $77,000 after acquiring an additional 13 shares during the period. Blair William & Co. IL boosted its position in Sandisk by 0.3% during the 4th quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider’s stock worth $1,255,000 after purchasing an additional 17 shares during the period. Empirical Finance LLC increased its holdings in Sandisk by 0.7% in the 1st quarter. Empirical Finance LLC now owns 3,535 shares of the data storage provider’s stock valued at $2,246,000 after purchasing an additional 24 shares in the last quarter. Larson Financial Group LLC increased its holdings in Sandisk by 20.2% in the 4th quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider’s stock valued at $52,000 after purchasing an additional 37 shares in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new position in Sandisk in the first quarter valued at about $25,000.

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.