Sandisk chief legal officer sells $694,956 in shares

Sandisk Corp's Chief Legal Officer, Bernard Shek, divested 600 shares of the company's common stock on November 2, 2026, totaling $694,956. The sale, executed under a pre-established Rule 10b5-1 trading plan, saw Shek sell the shares at $1,158.26 each. Post-trade, Shek holds 24,666 shares of Sandisk common stock. The insider sale occurred as SANDK stock was trading at $1,126.52, down around 20% over the past week, despite a strong 479% return over the past year.

InvestingPro analysis suggests the stock is undervalued, featuring on the Most Undervalued list. For a more detailed valuation assessment, subscribers can access the Pro Research Report. Simultaneously, SanDisk reported a 23% sequential revenue increase, exceeding analyst expectations, and has forecast a 12% revenue growth to $12.4 billion in the December quarter, slightly below consensus estimates of $12.5 billion.

Gross margins are projected to decline by around 10 basis points to about 85.0%. Analysts Rosenblatt and Mizuho have maintained Buy ratings on Sandisk, with price targets set at $2,400 and $1,900, respectively, citing margin concerns. Goldman Sachs and BofA Securities have reduced their price targets to $2,000, retaining Buy ratings focused on valuation.

Market concerns about NAND flash memory prices, as warned by competitor Kioxia, add to the current landscape.