Blueshift Asset Management LLC Buys New Stake in SharkNinja, Inc. (NYSE:SN)

Key Points

• Blueshift Asset Management LLC purchased 7,137 shares of SharkNinja, Inc. (NYSE:SN) for approximately $595,000, reflecting significant institutional interest in the company's stock.
• SharkNinja reported a quarterly earnings per share of $0.87, surpassing estimates and showcasing a 14.7% year-over-year revenue increase to $1.22 billion.
• Analysts have expressed positive outlooks for SharkNinja, with price targets ranging from $101.00 to $175.00 and a consensus target price of $129.13, indicating a prevailing sentiment of "Moderate Buy".

Blueshift Asset Management LLC bought a new stake in shares of SharkNinja, Inc. (NYSE:SN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,137 shares of the company's stock, valued at approximately $595,000.

A number of other institutional investors have also recently modified their holdings of SN. GAMMA Investing LLC lifted its stake in SharkNinja by 77.9% in the 1st quarter. GAMMA Investing LLC now owns 354 shares of the company's stock worth $30,000 after purchasing an additional 155 shares in the last quarter. Harbour Investments Inc. lifted its stake 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 purchasing an additional 406 shares in the last quarter. Quarry LP purchased a new position in SharkNinja in the 4th quarter worth approximately $47,000. Continuum Advisory LLC lifted its stake 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 in the last quarter. Finally, Covestor Ltd lifted its stake in SharkNinja by 284.4% in the 4th quarter. Covestor Ltd now owns 642 shares of the company's stock worth $63,000 after purchasing an additional 475 shares in the last quarter. 34.77% of the stock is currently owned by institutional investors and hedge funds.

SharkNinja Trading Up 3.6%

NYSE SN traded up $4.08 on Monday, reaching $116.40. The stock had a trading volume of 1,135,586 shares, compared to its average volume of 1,349,051. The firm has a market capitalization of $16.42 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 2.17 and a beta of 1.69. The company has a quick ratio of 1.17, a current ratio of 1.97 and a debt-to-equity ratio of 0.36. SharkNinja, Inc. has a 12-month low of $60.50 and a 12-month high of $123.00. The stock has a fifty day moving average price of $101.33 and a two-hundred day moving average price of $96.19.

SharkNinja (NYSE:SN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.14. SharkNinja had a return on equity of 28.89% and a net margin of 7.86%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the company earned $1.06 earnings per share. The company's revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts forecast that SharkNinja, Inc. will post 4.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on SN shares. Morgan Stanley lifted their price target on shares of SharkNinja from $85.00 to $101.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Canaccord Genuity Group lifted their price target on shares of SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Oppenheimer lifted their price target on shares of SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. lifted their price target on shares of SharkNinja from $108.00 to $144.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, Guggenheim reduced their price target on shares of SharkNinja from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $129.13.

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.