6,865 Shares in SharkNinja, Inc. $SN Purchased by Parnassus Investments LLC

Key Points

• Parnassus Investments LLC acquired a new position in SharkNinja, Inc., purchasing 6,865 shares valued at approximately $573,000 in the 1st quarter of 2023.
• Analysts have increased their price targets for SharkNinja, with JPMorgan raising it from $108.00 to $144.00 and Zacks upgrading the stock from a "hold" to a "strong-buy" rating.
• SharkNinja reported earnings of $0.97 per share for the last quarter, exceeding analyst estimates and showing a revenue growth of 15.7% year-over-year.

Parnassus Investments LLC acquired a new position in SharkNinja, Inc. (NYSE:SN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,865 shares of the company's stock, valued at approximately $573,000.

Several other institutional investors and hedge funds have also bought and sold shares of SN. GAMMA Investing LLC boosted its stake in SharkNinja by 77.9% during the first quarter. GAMMA Investing LLC now owns 354 shares of the company's stock worth $30,000 after acquiring an additional 155 shares in the last quarter. Harbour Investments Inc. raised its holdings in SharkNinja by 5,800.0% in the 1st quarter. Harbour Investments Inc. now owns 413 shares of the company's stock worth $34,000 after acquiring an additional 406 shares during the last quarter. SVB Wealth LLC purchased a new position in SharkNinja in the 1st quarter worth approximately $36,000. Quarry LP bought a new stake in SharkNinja in the 4th quarter worth approximately $47,000. Finally, Continuum Advisory LLC grew its position in SharkNinja by 6,875.0% in the 4th quarter. Continuum Advisory LLC now owns 558 shares of the company's stock worth $54,000 after purchasing an additional 550 shares during the period. 34.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on SN. JPMorgan Chase & Co. lifted their target price on shares of SharkNinja from $108.00 to $144.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Zacks Research raised shares of SharkNinja from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. The Goldman Sachs Group lifted their target price on shares of SharkNinja from $100.00 to $112.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Jefferies Financial Group set a $175.00 target price on shares of SharkNinja in a research report on Monday, June 30th. Finally, Oppenheimer lifted their target price on shares of SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $131.86.

SharkNinja Trading Up 0.7%

Shares of SN stock opened at $117.08 on Friday. SharkNinja, Inc. has a 1 year low of $60.50 and a 1 year high of $128.51. The firm has a fifty day moving average price of $112.39 and a 200-day moving average price of $97.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.20. The company has a market cap of $16.53 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 2.21 and a beta of 1.69.

SharkNinja (NYSE:SN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.19. SharkNinja had a net margin of 8.82% and a return on equity of 28.78%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The company's revenue for the quarter was up 15.7% compared to the same quarter last year. SharkNinja has set its FY 2025 guidance at 5.000-5.100 EPS. As a group, equities analysts predict that SharkNinja, Inc. will post 4.52 earnings per share for the current year.

About SharkNinja

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.

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