Sandisk Corp
SNDK · Computer Storage Devices · 148.1M shares · EDGAR filings ↗
Reference price $1,736.00 · est. market cap ~$257.1B — last insider sale, 2026-06-03 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Memory/flash-storage company (Western Digital spinoff) with losses in a downcycle, funded.
Strengths
- Strong liquidity — current ratio 3.6 (60th)
Risks
- Operating/net losses (memory downcycle) — operating margin -19%, net margin -22%
- Negative free cash flow — FCF -$120M (11th)
- Memory-price cyclicality — per 10-K
Notable findings
- Net lossNet loss (net margin -22.3%)
- Cash burnNegative free cash flow (-120.0M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $1.5B cash & investments, ~49 quarters of runway
- Insider sellingInsider selling — 7 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$11M, last 6mo) Form 4 ↗
- Pending mergerThe terms of the tax matters agreement, furthermore, restrict us from taking certain actions, particularly for the two years following the spin-off, including (among other things) the ability to freel
- Notable holderHeld by 7 notable fund(s): FMR LLC, CITADEL ADVISORS LLC, STATE STREET CORP +4 more (as of 2026-03-31)
- AccumulatingInstitutional holders rose 17→20 QoQ (2025-12-31→2026-03-31)
- New fund positionNotable fund(s) opened this quarter: Bridgewater Associates, LP, Appaloosa LP
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
30.1%
Operating margin
-18.7%
Net margin
-22.3%
Return on equity
-17.8%
Return on assets
-12.6%
ROIC
-9.8%
Revenue growth (QoQ)
96.7%
Debt / equity
0.2×
Current ratio
3.6×
Free cash flow
-$120M
EBITDA
-$1.2B
Tangible book value
$4.2B
Cash & investments
$1.5B
Cash runway
49q
Stock comp / revenue
2.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-20 | Shek Bernard | Tax withheld | 117 | $2,184.75 |
| 2026-06-03 | Shek Bernard | Sell | 600 | $1,736.00 |
| 2026-06-02 | Ilkbahar Alper | Gift | 2.7K | — |
| 2026-06-01 | Ilkbahar Alper | Sell | 999 | $1,755.31 |
| 2026-06-01 | Ilkbahar Alper | Sell | 401 | $1,757.00 |
| 2026-06-01 | Ilkbahar Alper | Sell | 600 | $1,758.40 |
| 2026-05-25 | Goeckeler David | Tax withheld | 1.6K | $1,478.69 |
| 2026-05-25 | Shek Bernard | Tax withheld | 211 | $1,478.69 |
| 2026-05-25 | Ilkbahar Alper | Tax withheld | 653 | $1,478.69 |
| 2026-05-21 | Ilkbahar Alper | Tax withheld | 319 | $1,542.24 |
| 2026-05-21 | Visoso Luis Felipe | Tax withheld | 1.6K | $1,542.24 |
| 2026-05-21 | Shek Bernard | Tax withheld | 107 | $1,542.24 |
| 2026-05-21 | Goeckeler David | Tax withheld | 1.0K | $1,542.24 |
| 2026-05-20 | Goeckeler David | Tax withheld | 1.3K | $1,392.56 |
| 2026-05-20 | Shek Bernard | Tax withheld | 109 | $1,392.56 |
| 2026-05-20 | Ilkbahar Alper | Tax withheld | 162 | $1,392.56 |
| 2026-05-12 | Pokorny Michael | Sell | 2.4K | $1,426.18 |
| 2026-05-12 | Caulfield Thomas | Gift | 9.7K | — |
| 2026-05-09 | Pokorny Michael | Tax withheld | 1.4K | $1,562.34 |
| 2026-05-08 | Sayiner Necip | Sell | 579 | $1,503.11 |
| 2026-04-20 | Ilkbahar Alper | Tax withheld | 2.3K | $913.02 |
| 2026-04-20 | Shek Bernard | Tax withheld | 41 | $913.02 |
| 2026-03-20 | Shek Bernard | Tax withheld | 117 | $709.71 |
| 2026-03-03 | Caulfield Thomas | Gift | 14K | — |
| 2026-03-03 | Caulfield Thomas | Gift | 14K | — |
| 2026-02-25 | Suzuki Miyuki | Sell | 3.5K | $627.53 |
| 2026-02-25 | Shek Bernard | Tax withheld | 211 | $632.38 |
| 2026-02-25 | Goeckeler David | Tax withheld | 1.6K | $632.38 |
| 2026-02-25 | Ilkbahar Alper | Tax withheld | 566 | $632.38 |
| 2026-02-21 | Ilkbahar Alper | Tax withheld | 223 | $649.97 |
| 2026-02-21 | Visoso Luis Felipe | Tax withheld | 1.6K | $649.97 |
| 2026-02-21 | Shek Bernard | Tax withheld | 107 | $649.97 |
| 2026-02-21 | Goeckeler David | Tax withheld | 1.0K | $649.97 |
| 2026-02-20 | Goeckeler David | Tax withheld | 1.3K | $649.97 |
| 2026-02-20 | Shek Bernard | Tax withheld | 117 | $649.97 |
| 2026-02-20 | Ilkbahar Alper | Tax withheld | 122 | $649.97 |
| 2026-01-20 | Shek Bernard | Tax withheld | 34 | $453.12 |
| 2025-12-30 | Bradley Alexander R. | Grant | 863 | — |
| 2025-12-20 | Shek Bernard | Tax withheld | 117 | $237.61 |
| 2025-12-03 | Sayiner Necip | Sell | 1.3K | $195.14 |
| 2025-11-25 | Goeckeler David | Tax withheld | 1.6K | $220.50 |
| 2025-11-25 | Shek Bernard | Tax withheld | 211 | $220.50 |
| 2025-11-25 | Ilkbahar Alper | Tax withheld | 653 | $220.50 |
| 2025-11-21 | Ilkbahar Alper | Tax withheld | 319 | $200.27 |
| 2025-11-21 | Visoso Luis Felipe | Tax withheld | 1.6K | $200.27 |
| 2025-11-21 | Shek Bernard | Tax withheld | 107 | $200.27 |
| 2025-11-21 | Goeckeler David | Tax withheld | 1.0K | $200.27 |
| 2025-11-20 | Pokorny Michael | Tax withheld | 821 | $195.96 |
| 2025-11-20 | Goeckeler David | Tax withheld | 1.3K | $195.96 |
| 2025-11-20 | Shek Bernard | Tax withheld | 109 | $195.96 |
| 2025-11-20 | Ilkbahar Alper | Tax withheld | 162 | $195.96 |
| 2025-11-18 | Sayiner Necip | Grant | 979 | — |
| 2025-11-18 | KUMAR DEVINDER | Grant | 979 | — |
| 2025-11-18 | Shook Ellyn | Grant | 979 | — |
| 2025-11-18 | Suzuki Miyuki | Grant | 979 | — |
| 2025-11-18 | Caulfield Thomas | Grant | 979 | — |
| 2025-11-18 | Cassidy Richard B. II | Grant | 1.1K | — |
| 2025-11-17 | Suzuki Miyuki | Tax withheld | 2.2K | $265.88 |
| 2025-10-20 | Shek Bernard | Tax withheld | 362 | $148.04 |
| 2025-09-20 | Shek Bernard | Tax withheld | 117 | $102.21 |
| 2025-09-03 | Shek Bernard | Grant | 18K | — |
| 2025-09-03 | Pokorny Michael | Grant | 13K | — |
| 2025-09-03 | Visoso Luis Felipe | Grant | 47K | — |
| 2025-09-03 | Goeckeler David | Grant | 85K | — |
| 2025-09-03 | Ilkbahar Alper | Grant | 26K | — |
| 2025-08-27 | Goeckeler David | Tax withheld | 980 | $48.44 |
| 2025-08-27 | Shek Bernard | Tax withheld | 78 | $48.44 |
| 2025-08-25 | Goeckeler David | Tax withheld | 1.6K | $46.78 |
| 2025-08-25 | Shek Bernard | Tax withheld | 211 | $46.78 |
| 2025-08-25 | Ilkbahar Alper | Tax withheld | 653 | $46.78 |
| 2025-08-21 | Shek Bernard | Tax withheld | 428 | $45.50 |
| 2025-08-21 | Visoso Luis Felipe | Tax withheld | 6.4K | $45.50 |
| 2025-08-21 | Goeckeler David | Tax withheld | 4.1K | $45.50 |
| 2025-08-21 | Ilkbahar Alper | Tax withheld | 1.3K | $45.50 |
| 2025-08-20 | Goeckeler David | Tax withheld | 35K | $44.40 |
| 2025-08-20 | Ilkbahar Alper | Tax withheld | 1.1K | $44.40 |
| 2025-08-20 | Shek Bernard | Tax withheld | 110 | $44.40 |
| 2025-08-20 | Visoso Luis Felipe | Tax withheld | 26K | $44.40 |
| 2025-07-20 | Shek Bernard | Tax withheld | 29 | $42.19 |
| 2025-06-20 | Shek Bernard | Tax withheld | 184 | $46.58 |
| 2025-05-27 | Goeckeler David | Tax withheld | 979 | $38.18 |
| 2025-05-27 | Shek Bernard | Tax withheld | 54 | $38.18 |
| 2025-05-25 | Shek Bernard | Tax withheld | 147 | $37.28 |
| 2025-05-25 | Goeckeler David | Tax withheld | 1.6K | $37.28 |
| 2025-05-25 | Ilkbahar Alper | Tax withheld | 653 | $37.28 |
| 2025-05-20 | Shek Bernard | Tax withheld | 76 | $40.18 |
| 2025-05-20 | Goeckeler David | Tax withheld | 1.3K | $40.18 |
| 2025-05-20 | Ilkbahar Alper | Tax withheld | 162 | $40.18 |
| 2025-05-09 | Pokorny Michael | Grant | 7.8K | — |
| 2025-04-20 | Shek Bernard | Tax withheld | 29 | $31.29 |
| 2025-04-20 | Ilkbahar Alper | Tax withheld | 1.5K | $31.29 |
| 2025-03-20 | Shek Bernard | Tax withheld | 81 | $56.21 |
| 2025-03-20 | Ilkbahar Alper | Tax withheld | 1.6K | $56.21 |
| 2025-03-12 | Ilkbahar Alper | Tax withheld | 569 | $50.44 |
| 2025-03-12 | Goeckeler David | Tax withheld | 3.8K | $50.44 |
| 2025-03-03 | Shook Ellyn | Grant | 3.8K | — |
| 2025-03-03 | MASSENGILL MATTHEW E | Grant | 4.8K | — |
| 2025-03-03 | Sayiner Necip | Grant | 3.8K | — |
| 2025-03-03 | KUMAR DEVINDER | Grant | 3.8K | — |
| 2025-03-03 | Cassidy Richard B. II | Grant | 3.8K | — |
| 2025-03-03 | Alexy Kimberly | Grant | 4.1K | — |
| 2025-03-03 | Caulfield Thomas | Grant | 4.1K | — |
| 2025-03-03 | Suzuki Miyuki | Grant | 4.1K | — |
| 2025-02-28 | Caulfield Thomas | Grant | 5.7K | — |
| 2025-02-28 | Suzuki Miyuki | Grant | 5.7K | — |
| 2025-02-21 | Visoso Luis Felipe | Grant | 155K | — |
| 2025-02-21 | Alexy Kimberly | Grant | 8.6K | — |
| 2025-02-21 | Alexy Kimberly | Grant | 1.3K | — |
| 2025-02-21 | Goeckeler David | Grant | 215K | — |
| 2025-02-21 | Goeckeler David | Grant | 92K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-15 | 2026-05-14 | 0001193125-26-224694 ↗ |
| 10-Q | 2026-05-01 | 2026-04-03 | 0001628280-26-029401 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001628280-26-028879 ↗ |
| 8-K | 2026-03-25 | 2026-03-25 | 0001193125-26-122705 ↗ |
| 10-Q | 2026-01-30 | 2026-01-02 | 0001628280-26-004407 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0001628280-26-004121 ↗ |
| 8-K | 2026-01-02 | 2025-12-30 | 0001628280-26-000127 ↗ |
| 8-K | 2025-11-20 | 2025-11-18 | 0001193125-25-289885 ↗ |
| 10-Q | 2025-11-07 | 2025-10-03 | 0001628280-25-050698 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001628280-25-050180 ↗ |
| 10-K | 2025-08-21 | 2025-06-27 | 0002023554-25-000034 ↗ |
| 8-K | 2025-08-14 | 2025-08-14 | 0001193125-25-180782 ↗ |