Dorsal Capital Management LP Invests $16.02 Million in SharkNinja, Inc. (NYSE:SN)

Dorsal Capital Management LP purchased a new stake in SharkNinja, Inc. (NYSE:SN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 164,494 shares of the company's stock, valued at approximately $16,015,000. SharkNinja makes up 0.4% of Dorsal Capital Management LP's portfolio, making the stock its 22nd largest holding. Dorsal Capital Management LP owned 0.12% of SharkNinja at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SN. FMR LLC boosted its holdings in shares of SharkNinja by 59.8% during the 4th quarter. FMR LLC now owns 16,467,858 shares of the company's stock valued at $1,603,311,000 after buying an additional 6,160,226 shares in the last quarter. HighTower Advisors LLC boosted its stake in SharkNinja by 42.9% during the fourth quarter. HighTower Advisors LLC now owns 7,179,756 shares of the company's stock worth $699,021,000 after acquiring an additional 2,155,136 shares in the last quarter. Norges Bank purchased a new stake in SharkNinja in the fourth quarter worth about $100,845,000. Palestra Capital Management LLC increased its stake in shares of SharkNinja by 83.4% during the fourth quarter. Palestra Capital Management LLC now owns 1,780,785 shares of the company's stock valued at $173,377,000 after purchasing an additional 809,960 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in shares of SharkNinja by 33.1% during the fourth quarter. Baillie Gifford & Co. now owns 2,430,185 shares of the company's stock valued at $236,603,000 after purchasing an additional 604,559 shares during the last quarter. 34.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SN shares. JPMorgan Chase & Co. reduced their price objective on SharkNinja from $139.00 to $98.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Oppenheimer lifted their price target on SharkNinja from $105.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday. Guggenheim cut their price objective on shares of SharkNinja from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday. Morgan Stanley lifted their target price on shares of SharkNinja from $85.00 to $101.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, The Goldman Sachs Group raised their price target on shares of SharkNinja from $100.00 to $112.00 and gave the company a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $117.28.

SharkNinja Stock Performance

SN stock traded up $0.62 on Friday, hitting $92.25. The company had a trading volume of 2,364,876 shares, compared to its average volume of 1,435,860. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.38. SharkNinja, Inc. has a 12-month low of $60.50 and a 12-month high of $123.00. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 2.35 and a beta of 1.68. The stock's 50-day simple moving average is $81.92 and its 200 day simple moving average is $96.04.

SharkNinja (NYSE:SN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.14. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.17 billion. SharkNinja had a return on equity of 32.51% and a net margin of 7.94%. SharkNinja's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 earnings per share. As a group, equities research analysts expect that SharkNinja, Inc. will post 4.52 earnings per share for the current fiscal year.

SharkNinja Company Profile

SharkNinja, Inc, a product design and technology company, engages in the provision of various solutions for consumers worldwide. It offers cleaning appliances, including corded and cordless vacuums, including handheld and robotic vacuums, as well as other floorcare products comprising steam mops, wet/dry cleaning floor products, and carpet extraction; cooking and beverage appliances, such as air fryers, multi-cookers, outdoor and countertop grills and ovens, coffee systems, carbonation, cookware, cutlery, kettles, toasters and bakeware; food preparation appliances comprising blenders, food processors, ice cream makers, and juicers; and beauty appliances, such as hair dryers and stylers, as well as home environment products comprising air purifiers and humidifiers.