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

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Forum Financial Management LP lifted its stake in shares of SharkNinja by 5.3% during the first quarter. Forum Financial Management LP now owns 2,872 shares of the company's stock valued at $240,000 after buying an additional 144 shares during the period. Voya Investment Management LLC grew its stake in SharkNinja by 1.2% during the fourth quarter. Voya Investment Management LLC now owns 13,168 shares of the company's stock worth $1,282,000 after buying an additional 154 shares during the period. GAMMA Investing LLC lifted its position in shares of SharkNinja by 77.9% during the first 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. Treasurer of the State of North Carolina increased its position in shares of SharkNinja by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 29,100 shares of the company's stock worth $2,833,000 after acquiring an additional 180 shares during the last quarter. Finally, Xponance Inc. increased its holdings in SharkNinja by 5.4% during the 1st quarter. Xponance Inc. now owns 4,273 shares of the company's stock worth $356,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 34.77% of the company's stock.

SharkNinja Stock Down 1.3%

SN stock traded down $1.55 during midday trading on Wednesday, reaching $113.90. The company had a trading volume of 1,790,221 shares, compared to its average volume of 1,649,247. The company has a market capitalization of $16.06 billion, a P/E ratio of 36.04, a PEG ratio of 2.25 and a beta of 1.69. The company has a 50 day moving average of $102.18 and a two-hundred day moving average of $96.37. The company has a current ratio of 1.97, a quick ratio of 1.17 and a debt-to-equity ratio of 0.36. SharkNinja, Inc. has a 1 year low of $60.50 and a 1 year high of $123.00.

SharkNinja (NYSE:SN - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.14. SharkNinja had a net margin of 7.86% and a return on equity of 28.89%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the business posted $1.06 EPS. SharkNinja's revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts expect that SharkNinja, Inc. will post 4.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SN. Jefferies Financial Group set a $175.00 price objective on shares of SharkNinja in a report on Monday, June 30th. Canaccord Genuity Group upped their price target on SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Morgan Stanley lifted their target price on SharkNinja from $85.00 to $101.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Guggenheim decreased their target price on shares of SharkNinja from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Oppenheimer upped their price objective on shares of SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average 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.