Bank of America Corp DE Trims Stake in SharkNinja, Inc. (NYSE:SN)

Bank of America Corp DE cut its position in SharkNinja, Inc. (NYSE:SN - Free Report) by 43.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,176 shares of the company's stock after selling 145,015 shares during the quarter. Bank of America Corp DE owned about 0.14% of SharkNinja worth $18,418,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of SharkNinja by 59.8% during the 4th quarter. FMR LLC now owns 16,467,858 shares of the company's stock worth $1,603,311,000 after buying an additional 6,160,226 shares during the last quarter. HighTower Advisors LLC increased its holdings in SharkNinja by 42.9% in the 4th quarter. HighTower Advisors LLC now owns 7,179,756 shares of the company's stock worth $699,021,000 after purchasing an additional 2,155,136 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of SharkNinja by 26.4% in the fourth quarter. William Blair Investment Management LLC now owns 2,827,340 shares of the company's stock valued at $275,270,000 after buying an additional 590,632 shares during the period. Baillie Gifford & Co. increased its stake in shares of SharkNinja by 33.1% in the fourth quarter. Baillie Gifford & Co. now owns 2,430,185 shares of the company's stock valued at $236,603,000 after buying an additional 604,559 shares during the period. Finally, Palestra Capital Management LLC increased its stake in shares of SharkNinja by 83.4% in the fourth quarter. Palestra Capital Management LLC now owns 1,780,785 shares of the company's stock valued at $173,377,000 after buying an additional 809,960 shares during the period. 34.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Guggenheim cut their price target on SharkNinja from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Morgan Stanley increased their price target on SharkNinja from $85.00 to $101.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Jefferies Financial Group lifted their target price on SharkNinja from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Canaccord Genuity Group lifted their target price on SharkNinja from $129.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. lowered their target price on SharkNinja from $139.00 to $98.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, SharkNinja has a consensus rating of "Moderate Buy" and an average target price of $121.50.

SharkNinja Stock Performance

Shares of NYSE SN traded down $0.98 during mid-day trading on Friday, hitting $94.39. The company had a trading volume of 1,301,279 shares, compared to its average volume of 1,452,484. The company has a market capitalization of $13.31 billion, a price-to-earnings ratio of 30.35, a P/E/G ratio of 2.35 and a beta of 1.68. SharkNinja, Inc. has a 1 year low of $60.50 and a 1 year high of $123.00. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.38. The stock's 50-day moving average price is $83.71 and its 200-day moving average price is $95.82.

SharkNinja (NYSE:SN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.14. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.17 billion. SharkNinja had a return on equity of 32.51% and a net margin of 7.94%. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 earnings per share. On average, sell-side analysts forecast that SharkNinja, Inc. will post 4.52 earnings per share for the current year.

SharkNinja 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.