Bank of America Corp DE Purchases 84,796 Shares of SharkNinja, Inc. $SN

Key Points

• Bank of America increased its SharkNinja stake by 17.9% in the first quarter, purchasing 84,796 additional shares and bringing its holdings to 559,813 shares valued at approximately $59.3 million.
• SharkNinja reported a strong quarter, with EPS of $1.26 beating estimates of $1.11 and revenue rising 22.2% year over year to $1.77 billion. The stock opened at $185.40, near its 52-week high of $187.63.
• Analyst sentiment remains favorable: 11 analysts rate the stock Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $185.82. Meanwhile, insider Neil B. Shah sold 29,667 shares worth about $5.5 million.

Bank of America Corp DE boosted its position in SharkNinja, Inc. (NYSE:SN - Free Report) by 17.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 559,813 shares of the company's stock after buying an additional 84,796 shares during the period. Bank of America Corp DE owned approximately 0.40% of SharkNinja worth $59,284,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SN. Edgestream Partners L.P. bought a new position in shares of SharkNinja in the 1st quarter worth about $3,458,000. Anson Funds Management LP lifted its stake in shares of SharkNinja by 700.0% in the 1st quarter. Anson Funds Management LP now owns 40,000 shares of the company's stock valued at $4,236,000 after purchasing an additional 35,000 shares during the period. Janus Henderson Group PLC bought a new stake in shares of SharkNinja during the 1st quarter valued at about $7,356,000. EverSource Wealth Advisors LLC boosted its position in shares of SharkNinja by 17.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,013 shares of the company's stock valued at $107,000 after purchasing an additional 149 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of SharkNinja by 96.4% during the 1st quarter. Royal Bank of Canada now owns 74,000 shares of the company's stock valued at $7,837,000 after purchasing an additional 36,318 shares in the last quarter. Institutional investors own 34.77% of the company's stock.

SharkNinja Price Performance

SN stock opened at $185.40 on Tuesday. The company has a market capitalization of $26.12 billion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 2.24 and a beta of 1.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.45 and a current ratio of 2.08. SharkNinja, Inc. has a 52-week low of $83.12 and a 52-week high of $187.63. The business has a 50-day simple moving average of $147.63 and a two-hundred day simple moving average of $126.31.

SharkNinja (NYSE:SN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.15. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.65 billion. SharkNinja had a return on equity of 27.79% and a net margin of 10.06%.The company's revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS. SharkNinja has set its FY 2026 guidance at 6.450-6.550 EPS. Research analysts expect that SharkNinja, Inc. will post 5.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SN has been the subject of a number of research analyst reports. Weiss Ratings upgraded SharkNinja from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 3rd. Jefferies Financial Group restated a "buy" rating on shares of SharkNinja in a report on Wednesday, May 6th. Oppenheimer raised their price objective on shares of SharkNinja from $145.00 to $170.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Wall Street Zen upgraded shares of SharkNinja from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Piper Sandler reiterated an "overweight" rating and set a $200.00 target price (up from $181.00) on shares of SharkNinja in a research report on Thursday. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $185.82.

Insider Activity

In related news, insider Neil B. Shah sold 29,667 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $186.76, for a total transaction of $5,540,608.92. Following the completion of the sale, the insider owned 61,099 shares in the company, valued at approximately $11,410,849.24. This represents a 32.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 40.80% of the stock is currently owned by insiders.

SharkNinja Profile

SharkNinja NYSE: SN is a leading designer, marketer and distributor of innovative small home appliances under the Shark® and Ninja® brands. The company's product portfolio spans floorcare, cleaning and home environment products, including upright, cordless and robotic vacuum cleaners, steam mops and air purifiers. In the kitchen category, SharkNinja offers a broad range of cooking and food preparation solutions, such as countertop ovens, air fryers, multicookers, blenders and coffee makers. Its products are positioned to deliver user-friendly performance, innovative features and durable design for everyday household tasks.

Founded in 1998 as Euro-Pro Operating LLC, the company initially focused on the European market before expanding its presence in North America.

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