Commerce Bank Purchases Shares of 27,535 SharkNinja, Inc. (NYSE:SN)

Key Points

• Commerce Bank acquired a new stake in SharkNinja, purchasing 27,535 shares valued at approximately $2.3 million during the first quarter.
• Several institutional investors have increased their holdings in SharkNinja, with Harbour Investments growing its position by 5,800% in the first quarter.
• Analysts have raised SharkNinja's target price, with Goldman Sachs lifting its estimate from $100 to $112 and Canaccord Genuity increasing it to $136 while maintaining a "buy" rating.

Commerce Bank purchased a new position in shares of SharkNinja, Inc. (NYSE:SN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,535 shares of the company's stock, valued at approximately $2,297,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SN. GAMMA Investing LLC lifted its position in shares of SharkNinja by 77.9% in the 1st quarter. GAMMA Investing LLC now owns 354 shares of the company's stock worth $30,000 after buying an additional 155 shares during the last quarter. Harbour Investments Inc. increased its position in SharkNinja by 5,800.0% in the 1st quarter. Harbour Investments Inc. now owns 413 shares of the company's stock valued at $34,000 after acquiring an additional 406 shares during the period. Quarry LP acquired a new position in SharkNinja during the 4th quarter worth $47,000. Continuum Advisory LLC grew its stake in shares of SharkNinja by 6,875.0% in the fourth 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 increased its holdings in shares of SharkNinja by 284.4% during the fourth quarter. Covestor Ltd now owns 642 shares of the company's stock valued at $63,000 after purchasing an additional 475 shares during the period. Institutional investors own 34.77% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of SharkNinja from $108.00 to $144.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Oppenheimer upped their target price on SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Jefferies Financial Group set a $175.00 price target on SharkNinja in a research note on Monday, June 30th. Guggenheim reduced their price objective on shares of SharkNinja from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Canaccord Genuity Group lifted their target price on shares of SharkNinja from $127.00 to $136.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, SharkNinja has a consensus rating of "Moderate Buy" and an average price target of $129.13.

SharkNinja Price Performance

SharkNinja stock traded up $1.21 during mid-day trading on Thursday, hitting $115.37. 3,410,740 shares of the company were exchanged, compared to its average volume of 1,661,270. The company has a market capitalization of $16.27 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 2.23 and a beta of 1.69. The business has a fifty day moving average of $102.61 and a 200 day moving average of $96.49. SharkNinja, Inc. has a 1-year low of $60.50 and a 1-year high of $128.51. 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 (NYSE:SN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.19. SharkNinja had a return on equity of 28.89% and a net margin of 7.86%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the company earned $0.71 EPS. SharkNinja's revenue for the quarter was up 15.7% on a year-over-year basis. As a group, sell-side analysts expect 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.