132,841 SharkNinja, Inc. $SN Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings reduced its SharkNinja stake by 33% in the third quarter, selling 132,841 shares; it retained 269,285 shares valued at about $48.4 million.
• SharkNinja reported quarterly earnings of $2.34 per share, beating estimates of $1.90, while revenue of $1.98 billion topped forecasts and rose 21.2% year over year.
• Analyst sentiment remains positive: 14 analysts rate the stock Buy, and the average price target is $211.39; Guggenheim and BTIG recently raised their targets to $250.

Allspring Global Investments Holdings LLC cut its stake in shares of SharkNinja, Inc. (NYSE:SN - Free Report) by 33.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 269,285 shares of the company's stock after selling 132,841 shares during the period. Allspring Global Investments Holdings LLC owned about 0.19% of SharkNinja worth $48,412,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its position in SharkNinja by 108.2% in the 3rd quarter. IFP Advisors Inc now owns 177 shares of the company's stock worth $32,000 after buying an additional 92 shares in the last quarter. Clearstead Trust LLC purchased a new position in shares of SharkNinja during the 2nd quarter valued at $30,000. Richardson Financial Services Inc. grew its holdings in shares of SharkNinja by 36.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 199 shares of the company's stock valued at $36,000 after acquiring an additional 53 shares in the last quarter. Latitude Advisors LLC purchased a new position in shares of SharkNinja during the 3rd quarter valued at $37,000. Finally, Timbuktu Capital Management LLC acquired a new position in shares of SharkNinja in the second quarter worth $40,000. Institutional investors and hedge funds own 34.77% of the company's stock.

SharkNinja Price Performance

NYSE SN opened at $226.53 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $31.92 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 2.51 and a beta of 1.20. SharkNinja, Inc. has a 12-month low of $83.21 and a 12-month high of $232.76. The company has a 50 day moving average price of $187.48 and a two-hundred day moving average price of $146.06.

SharkNinja (NYSE:SN - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $2.34 EPS for the quarter, topping the consensus estimate of $1.90 by $0.44. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.87 billion. SharkNinja had a net margin of 11.64% and a return on equity of 28.84%. SharkNinja's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.50 EPS. As a group, equities analysts predict that SharkNinja, Inc. will post 5.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SN has been the subject of several recent research reports. Guggenheim increased their price objective on SharkNinja from $210.00 to $250.00 and gave the stock a "buy" rating in a report on Monday. Weiss Ratings raised SharkNinja from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday. The Goldman Sachs Group restated a "buy" rating and issued a $204.00 target price on shares of SharkNinja in a research note on Thursday, August 6th. BTIG Research upped their target price on SharkNinja from $245.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. Finally, Canaccord Genuity Group raised their price target on SharkNinja from $185.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, SharkNinja has an average rating of "Buy" and an average target price of $211.39.

Insider Buying and Selling

In other SharkNinja news, insider Neil Shah sold 50,000 shares of the firm's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $186.36, for a total transaction of $9,318,000.00. Following the transaction, the insider directly owned 497,220 shares in the company, valued at $92,661,919.20. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 40.80% of the stock is owned by insiders.

SharkNinja Company Profile

SharkNinja is a global product design and technology company that develops and markets household appliances under its Shark and Ninja brands. Its products are designed for everyday home use and are sold through retail and online channels. The Shark brand is known for floor-care and cleaning products, including vacuums and floor cleaners, as well as home-environment and beauty products. Ninja focuses on kitchen appliances and food-preparation products, such as air fryers, blenders, multicookers, and coffee makers.

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