Sandisk (NASDAQ:SNDK) Stock Price Down 14.1% Following Insider Selling

Shares of Sandisk Corporation (NASDAQ:SNDK) dropped 14.1% 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 traded hands during mid-day trading, an increase of 3% from the average session volume of 16,637,529 shares. The stock had previously closed at $2,032.22.

Specifically, insider Bernard Shek sold 600 shares of the business’s stock in a transaction on 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 transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Evercore reaffirmed an “outperform” rating and set a $1,400.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Bank of America boosted their target price on Sandisk from $2,100.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho upped their target price on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. UBS Group set a $1,700.00 price target on shares of Sandisk in a report on Monday, May 4th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $1,400.00 price target on shares of Sandisk in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Sandisk currently has an average rating of “Moderate Buy” and an average target price of $1,684.24.

Key Stories Impacting Sandisk

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 Price Performance

The firm has a market capitalization of $258.42 billion, a P/E ratio of 60.65 and a beta of 4.74. The company’s 50-day simple moving average is $1,650.22 and its two-hundred day simple moving average is $942.09.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results 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. The business had revenue of $5.95 billion for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company’s revenue was up 251.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts predict that Sandisk Corporation will post 64.01 earnings per share for the current year.

Hedge Funds Weigh In On Sandisk

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp bought a new stake in Sandisk during the 3rd quarter valued at approximately $491,053,000. Arrowstreet Capital Limited Partnership purchased a new stake in Sandisk during the 3rd quarter valued at approximately $297,293,000. Norges Bank purchased a new stake in Sandisk during the 4th quarter valued at approximately $518,889,000. Bank of America Corp DE bought a new stake in shares of Sandisk during the third quarter valued at approximately $190,425,000. Finally, AQR Capital Management LLC purchased a new position in shares of Sandisk in the third quarter worth $163,057,000.

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.