Bank of Nova Scotia Grows Stock Position in Sandisk Corporation $SNDK

Bank of Nova Scotia grew its stake in Sandisk Corporation (NASDAQ:SNDK) by 24.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 193,920 shares of the data storage provider’s stock after buying an additional 37,601 shares during the period. Bank of Nova Scotia owned 0.13% of Sandisk worth $123,205,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SNDK. Valley Wealth Managers Inc. acquired a new position in shares of Sandisk in the 1st quarter valued at $25,000. Cedar Mountain Advisors LLC lifted its stake 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 acquiring an additional 55 shares during the period. Roble Belko & Company Inc acquired a new position in Sandisk during the first quarter valued at $39,000. Himension Capital Singapore PTE. LTD. acquired a new stake in Sandisk during the 1st quarter worth about $43,000. Finally, Main Street Group LTD acquired a new stake in Sandisk during the 1st quarter worth about $53,000.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts and market commentators highlighted Sandisk as a potential winner from AI infrastructure spending, tight memory supply, and stronger NAND pricing, reinforcing the bull case for higher earnings power. Article Title
• Positive Sentiment: Reports said memory prices remain elevated and could continue rising, which is important for Sandisk’s margins and revenue outlook. Article Title
• Positive Sentiment: Several bullish pieces argued Sandisk still has room to run after its huge 2026 rally, citing enterprise SSD growth, AI-related storage demand, and a discounted valuation relative to its growth story. Article Title
• Neutral Sentiment: With earnings approaching, investors are focused on whether Sandisk can keep beating expectations and justify its elevated valuation. Article Title
• Neutral Sentiment: Some coverage flagged a broader sector pause and profit-taking, explaining why SNDK has also seen intraday volatility despite the bullish long-term narrative. Article Title
• Negative Sentiment: At least one analyst cut a price target on SNDK, which may be pressuring sentiment even as the stock remains near record levels. Article Title
• Negative Sentiment: Susquehanna also reportedly lowered its target, suggesting some analysts think the stock’s recent run has outpaced near-term fundamentals. Article Title

Sandisk Stock Up 0.7%

Shares of Sandisk stock opened at $1,610.33 on Friday. The firm has a market cap of $238.47 billion, a PE ratio of 55.97 and a beta of 4.74. Sandisk Corporation has a 52 week low of $40.10 and a 52 week high of $2,354.39. The business’s fifty day simple moving average is $1,753.46 and its 200-day simple moving average is $1,084.78.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. The firm 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 business’s revenue for the quarter 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. As a group, equities analysts expect that Sandisk Corporation will post 64.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barclays raised shares of Sandisk from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $1,200.00 to $2,300.00 in a research note on Tuesday, May 26th. Jefferies Financial Group reissued a “buy” rating and set a $1,400.00 price target on shares of Sandisk in a report on Friday, May 1st. UBS Group set a $1,700.00 price target on shares of Sandisk in a research report on Monday, May 4th. Mizuho lifted their price objective on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Finally, Citigroup upped their price objective on shares of Sandisk from $2,025.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Sandisk has an average rating of “Moderate Buy” and an average target price of $1,811.38.

Insider Buying and Selling

In related news, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction on 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 completion of the transaction, the chief accounting officer directly owned 22,375 shares in the company, valued at approximately $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the insider directly owned 31,515 shares of the company’s stock, valued at $65,803,320. The trade was a 1.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,225 shares of company stock worth $10,166,297 over the last ninety days. Insiders own 0.21% of the company’s stock.

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.