Avalon Global Asset Management LLC Purchases Shares of 40,000 SharkNinja, Inc. $SN

Key Points

• Avalon Global Asset Management LLC acquired a new stake in SharkNinja, Inc. by purchasing 40,000 shares valued at approximately $3.34 million.
• Institutional ownership of SharkNinja stands at 34.77%, with significant increases from other hedge funds, including Palestra Capital Management, which raised its holdings by 83.4%.
• SharkNinja's stock has seen price target upgrades from several brokerage firms, with an average target of $131.86 and a consensus rating of "Buy."

Avalon Global Asset Management LLC purchased a new stake in SharkNinja, Inc. (NYSE:SN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 40,000 shares of the company's stock, valued at approximately $3,336,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Palestra Capital Management LLC increased its holdings in shares of SharkNinja by 83.4% during the fourth quarter. Palestra Capital Management LLC now owns 1,780,785 shares of the company's stock valued at $173,377,000 after acquiring an additional 809,960 shares in the last quarter. Federated Hermes Inc. grew its holdings in SharkNinja by 14.7% during the first quarter. Federated Hermes Inc. now owns 1,305,771 shares of the company's stock worth $108,914,000 after buying an additional 167,757 shares in the last quarter. Alua Capital Management LP grew its holdings in SharkNinja by 17.5% during the fourth quarter. Alua Capital Management LP now owns 1,042,489 shares of the company's stock worth $101,497,000 after buying an additional 155,605 shares in the last quarter. Greenvale Capital LLP bought a new stake in SharkNinja during the fourth quarter worth $73,020,000. Finally, Deutsche Bank AG grew its holdings in SharkNinja by 50.6% during the first quarter. Deutsche Bank AG now owns 591,957 shares of the company's stock worth $49,375,000 after buying an additional 198,873 shares in the last quarter. Institutional investors own 34.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SN. Jefferies Financial Group set a $175.00 price target on SharkNinja in a report on Monday, June 30th. The Goldman Sachs Group upped their price target on SharkNinja from $100.00 to $112.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Oppenheimer upped their price target on SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Canaccord Genuity Group upped their price target on SharkNinja from $127.00 to $136.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. upped their price objective on SharkNinja from $108.00 to $144.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $131.86.

SharkNinja Stock Down 0.8%

SN stock opened at $115.95 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.20 and a current ratio of 1.94. The company has a market capitalization of $16.37 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 2.44 and a beta of 1.69. SharkNinja, Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $128.51. The stock has a fifty day moving average of $110.05 and a 200-day moving average of $96.83.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.