PNC Financial Services Group Inc. Grows Stake in Sandisk Corporation $SNDK

PNC Financial Services Group Inc. grew its holdings in Sandisk Corporation (NASDAQ:SNDK) by 82.7% during the fourth quarter, HoldingsChannel reports. The fund owned 16,109 shares of the data storage provider’s stock after purchasing an additional 7,291 shares during the period. PNC Financial Services Group Inc.’s holdings in Sandisk were worth $3,824,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SNDK. Whittier Trust Co. purchased a new position in Sandisk during the 4th quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Sandisk in the 3rd quarter valued at approximately $27,000. Chung Wu Investment Group LLC acquired a new stake in shares of Sandisk in the 4th quarter valued at approximately $27,000. Westfuller Advisors LLC lifted its holdings in shares of Sandisk by 51.8% in the 4th quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider’s stock valued at $30,000 after buying an additional 43 shares during the period. Finally, Parallel Advisors LLC acquired a new stake in shares of Sandisk in the 3rd quarter valued at approximately $30,000.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wedbush raised their price target on Sandisk from $740.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. UBS Group set a $1,700.00 price target on Sandisk in a report on Monday, May 4th. KGI Securities began coverage on Sandisk in a report on Wednesday, March 18th. They set an “outperform” rating and a $992.00 price objective for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $1,100.00 price objective on shares of Sandisk in a report on Monday, April 27th. Finally, Barclays lifted their price objective on Sandisk from $750.00 to $1,200.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,157.14.

Sandisk Stock Performance

Sandisk stock opened at $1,478.69 on Tuesday. The stock has a fifty day moving average of $999.79 and a two-hundred day moving average of $608.04. The company has a market capitalization of $218.98 billion, a price-to-earnings ratio of 51.40 and a beta of 4.82. Sandisk Corporation has a fifty-two week low of $35.79 and a fifty-two week high of $1,600.00.

Sandisk (NASDAQ:SNDK) last released 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 company had revenue of $5.95 billion during the quarter. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The business’s quarterly revenue was up 251.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, analysts forecast that Sandisk Corporation will post 63.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction on 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 completion of the sale, the director owned 2,900 shares of the company’s stock, valued at $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the completion of the sale, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 6,525 shares of company stock valued at $6,555,092. Corporate insiders own 0.21% of the company’s stock.

Sandisk Company 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.