Third Point LLC Takes $45.88 Million Position in SharkNinja, Inc. $SN

Key Points

• Third Point LLC acquired 550,000 shares of SharkNinja, Inc. for approximately $45.9 million, representing about 0.39% of the company's total stock.
• Analysts have raised SharkNinja's price targets, with JPMorgan increasing theirs to $144 and Oppenheimer to $135, indicating a positive outlook on the stock.
• SharkNinja reported a 15.7% revenue increase in its latest quarterly earnings, with an EPS of $0.97 that exceeded expectations, driving growth in investor interest.

Third Point LLC purchased a new stake in shares of SharkNinja, Inc. (NYSE:SN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 550,000 shares of the company's stock, valued at approximately $45,876,000. Third Point LLC owned about 0.39% of SharkNinja at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Scientech Research LLC acquired a new stake in SharkNinja during the 1st quarter valued at $964,000. Integrated Wealth Concepts LLC bought a new position in SharkNinja during the 1st quarter worth $369,000. Jacobs Levy Equity Management Inc. increased its position in SharkNinja by 185.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 141,919 shares of the company's stock worth $11,837,000 after buying an additional 92,235 shares during the period. Granahan Investment Management LLC increased its position in SharkNinja by 2.5% during the 1st quarter. Granahan Investment Management LLC now owns 175,694 shares of the company's stock worth $14,655,000 after buying an additional 4,311 shares during the period. Finally, Boothbay Fund Management LLC increased its position in SharkNinja by 300.1% during the 1st quarter. Boothbay Fund Management LLC now owns 104,068 shares of the company's stock worth $8,680,000 after buying an additional 78,060 shares during the period. Institutional investors and hedge funds own 34.77% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SN. Zacks Research upgraded SharkNinja from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Jefferies Financial Group set a $175.00 price objective on SharkNinja in a research report on Monday, June 30th. JPMorgan Chase & Co. increased their price objective on SharkNinja from $108.00 to $144.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Oppenheimer increased their price objective on SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, Guggenheim reiterated a "buy" rating on shares of SharkNinja in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $131.86.

SharkNinja Price Performance

Shares of NYSE SN traded down $0.83 during mid-day trading on Friday, reaching $114.71. The company had a trading volume of 250,163 shares, compared to its average volume of 1,624,573. The business's 50-day simple moving average is $115.77 and its 200 day simple moving average is $97.71. The firm has a market cap of $16.19 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 2.20 and a beta of 1.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.20 and a current ratio of 1.94. SharkNinja, Inc. has a one year low of $60.50 and a one year high of $128.51.

SharkNinja (NYSE:SN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.19. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. SharkNinja had a return on equity of 28.78% and a net margin of 8.82%.SharkNinja's revenue was up 15.7% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. SharkNinja has set its FY 2025 guidance at 5.000-5.100 EPS. On average, research analysts predict 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.