Keel Point LLC Acquires New Position in Sandisk Corporation $SNDK

Keel Point LLC acquired a new stake in Sandisk Corporation (NASDAQ:SNDK) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 495 shares of the data storage provider’s stock, valued at approximately $314,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Valley Wealth Managers Inc. purchased a new stake in shares of Sandisk in the first quarter valued at approximately $25,000. IMG Wealth Management Inc. purchased a new position in Sandisk during the 1st quarter worth $29,000. SOA Wealth Advisors LLC. increased its holdings in Sandisk by 108.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 27 shares during the period. Cedar Mountain Advisors LLC raised its position in Sandisk by 2,750.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 55 shares in the last quarter. Finally, Roble Belko & Company Inc bought a new stake in Sandisk during the 1st quarter valued at $39,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Mizuho increased their price target on Sandisk from $1,825.00 to $2,200.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Evercore set a $3,100.00 price objective on Sandisk in a report on Monday, July 13th. Arete Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Sanford C. Bernstein increased their target price on shares of Sandisk from $1,700.00 to $3,000.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Finally, Melius Research set a $2,350.00 target price on shares of Sandisk in a report on Monday, May 18th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,811.38.

Insider Buying and Selling

In other news, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the sale, the insider directly owned 31,515 shares in the company, valued at approximately $65,803,320. This trade represents a 1.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of the transaction, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,225 shares of company stock worth $10,166,297 over the last ninety days. 0.21% of the stock is currently owned by company insiders.

Sandisk Trading Up 6.0%

SNDK opened at $1,288.03 on Tuesday. The firm has a market cap of $190.74 billion, a price-to-earnings ratio of 44.77 and a beta of 5.21. Sandisk Corporation has a 12 month low of $40.53 and a 12 month high of $2,354.39. The stock has a fifty day moving average price of $1,725.33 and a 200-day moving average price of $1,128.02.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts argue that the recent correction—estimated at roughly 32% to 41% over the past month, depending on the measurement period—has made Sandisk’s valuation more attractive. One Seeking Alpha contributor upgraded the stock to Buy, while another cited strong expected earnings growth and a low forward earnings multiple as reasons to consider the shares. Sandisk: Buy The Fear Ahead Of Earnings Sandisk: Looking Like A Buy Ahead Of Earnings
• Positive Sentiment: Investor optimism is supported by AI-driven enterprise SSD demand, firmer NAND pricing and increasing adoption of TLC and QLC flash memory. These trends could support revenue and margins if sustained in the upcoming results. Buy Sandisk Stock Before Q4 Earnings
• Positive Sentiment: Morgan Stanley’s upgrade of Korean equities to Overweight, following a leverage-driven market selloff, is adding support to memory stocks including Sandisk, Micron and SK Hynix by suggesting forced selling may be easing. Morgan Stanley’s Korea Call

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.