Elevation Point Wealth Partners LLC Buys New Position in Sandisk Corporation $SNDK

Elevation Point Wealth Partners LLC acquired a new position in Sandisk Corporation (NASDAQ:SNDK) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 799 shares of the data storage provider’s stock, valued at approximately $1,817,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Sandisk during the 2nd quarter worth about $23,408,732,000. State Street Corp increased its stake in shares of Sandisk by 20.7% in the fourth 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 lifted its holdings in shares of Sandisk by 44.9% during 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 buying an additional 1,133,276 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Sandisk by 31.3% in the fourth 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 last quarter. Finally, Morgan Stanley lifted its stake in shares of Sandisk by 7.2% in the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after purchasing an additional 199,545 shares during the last quarter.

Sandisk Stock Performance

Shares of NASDAQ:SNDK opened at $1,596.08 on Monday. The company has a market capitalization of $233.70 billion, a PE ratio of 21.89, a P/E/G ratio of 0.16 and a beta of 5.21. Sandisk Corporation has a 52 week low of $45.63 and a 52 week high of $2,354.39. The company’s fifty day moving average is $1,655.56 and its 200-day moving average is $1,224.03.

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

Sandisk announced that its board has approved a stock repurchase plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to purchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SNDK shares. Wells Fargo & Company lifted their price target on shares of Sandisk from $1,400.00 to $1,550.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. initiated coverage on shares of Sandisk in a report on Friday, August 14th. They set an “overweight” rating and a $2,250.00 price objective for the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of Sandisk in a research note on Thursday, August 6th. The Goldman Sachs Group reiterated a “buy” rating and issued a $2,200.00 target price on shares of Sandisk in a report on Thursday, August 13th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Sandisk in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $1,999.27.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk introduced new SATA and NVMe solid-state drives for high-performance network-attached storage (NAS), targeting prosumers, small businesses and private-cloud users. The expansion could diversify demand beyond hyperscale customers and strengthen its competitive position against Micron and Seagate. Can Sandisk’s NAS Expansion Help It Challenge MU & STX?
• Positive Sentiment: Some analysts and market commentators remain bullish on Sandisk’s long-term earnings potential, arguing that accelerating artificial-intelligence data creation should increase demand for storage. One published view cited a potential $3,000 price target, although such targets are highly dependent on continued memory-market strength. SanDisk Stock Trades at $1,600 with Analysts Eyeing $3,000 Target
• Neutral Sentiment: Technical analysts expect substantial volatility in AI-memory stocks in the coming weeks but remain constructive over the longer term. This supports the bullish thesis while warning investors that sharp swings and options-related risks may continue. Danielle Shay on MU, SNDK & STX Technical Analysis, Options Strategies
• Neutral Sentiment: Sandisk’s latest quarterly results were exceptionally strong, with revenue up 371.6% year over year and earnings exceeding consensus estimates. However, the stock’s very large rally has raised expectations, making future results and guidance increasingly important to valuation.
• Negative Sentiment: Bearish commentary argues that Sandisk’s valuation may be pricing in an unusually favorable memory cycle and could underestimate the industry’s historical cyclicality. Any slowdown in pricing, demand or margins could therefore trigger a significant correction. Sandisk: Bulls Are Misjudging Its Valuation And Cyclicality
• Negative Sentiment: Investors are also concerned that increased Chinese competition or supply pressure could undermine Sandisk’s pricing power and disrupt its parabolic rally. The new NAS products were not enough to offset those broader concerns during Friday’s session. SanDisk Stock Has Gone Parabolic. How China Could End the Party

Insider Buying and Selling

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the sale, the executive vice president owned 52,677 shares in the company, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were 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 $35,928,176.40. This represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 3,800 shares of company stock valued at $6,504,856. 0.21% of the stock is currently owned by insiders.

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.