TLDR
- Chief Accounting Officer Michael Pokorny sold ~$3.5 million in stock; Director Necip Sayiner sold ~$870,300 worth on May 8.
- SNDK has rallied 465% in 2026, driven by strong earnings and AI data center demand for NAND memory products.
- Revenue jumped 251% year over year in fiscal Q3 2026, with adjusted EPS of $23.41.
- The company is shifting to a multiyear agreement model, locking in committed revenue from hyperscaler customers.
- Management is guiding for ~$8 billion in Q4 revenue and 80% gross margin.
Two Sandisk insiders sold a combined $4.4 million in stock this week, cashing in on one of the market’s biggest runs of the year.
Chief Accounting Officer Michael Pokorny sold 2,446 shares on Tuesday at $1,426.18 each, netting roughly $3.5 million. He still directly owns 22,375 shares, valued at around $31 million based on Thursday’s closing price of $1,382.72.
Director Necip Sayiner sold 579 shares on May 8 at an average of $1,503.11, totalling $870,300. He held 2,900 shares after the sale, worth about $4 million.
Sandisk stock has gained 465% in 2026 alone, and roughly 3,640% since spinning off from Western Digital in February 2025 at an IPO price of $38.50. The stock now trades around $1,400.
The Nasdaq 100 is up about 15% over the same period, putting Sandisk’s run in sharp relief.
What’s Driving the Rally
The engine behind the move is NAND flash memory. Sandisk’s products are critical for AI data centers, where demand for high-density, non-volatile storage has surged as hyperscalers scale infrastructure fast.
Amazon, Microsoft, Alphabet and Meta have earmarked a combined $700 billion for infrastructure spending in 2026. Sandisk sits squarely in the path of that spending.
Fiscal Q3 2026 results reflected that demand directly. Revenue rose 97% sequentially and 251% year over year. Adjusted EPS came in at $23.41, up from $5.15 the prior quarter.
Data center revenue specifically jumped 233% in the quarter. CEO David Goeckeler has called hyperscalers “higher-value customers,” a shift from the company’s earlier, more fragmented customer base.
Memory scarcity is also pushing prices higher, adding a pricing tailwind on top of volume growth.
New Business Model Taking Hold
Sandisk is moving away from spot sales toward multiyear supply agreements. The company signed three of these deals in Q3, and two more already in Q4. The model locks in revenue for Sandisk and guarantees storage capacity for customers.
For Q4, management is guiding for roughly $8 billion in revenue — up 321% from a year ago — and 80% gross margin, slightly ahead of the 78.4% posted in Q3.
Peers have also had a strong year. Western Digital, Seagate and Micron have all more than doubled in 2026.
At current prices, Sandisk trades at around 16 times trailing-12-month sales, up from roughly 4.5x at the start of the year. That multiple makes the stock more sensitive to any negative surprises, whether company-specific or macro-driven.
The two insider sales are the latest SEC-disclosed transactions from Sandisk executives as the stock continues to trade near its highs.
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