Deutsche Bank AG Purchases 198,873 Shares of SharkNinja, Inc. (NYSE:SN)

Key Points

• Deutsche Bank AG increased its stake in SharkNinja by 50.6% in Q1, acquiring an additional 198,873 shares, totaling approximately $49.4 million in value.
• SharkNinja's earnings report revealed $1.44 billion in revenue for the quarter, surpassing expectations by $60 million, and a 15.7% year-over-year revenue increase.
• Multiple research analysts raised their price targets on SharkNinja stock, with Goldman Sachs setting a new target of $112.00 and Canaccord Genuity increasing theirs to $136.00, reflecting a consensus rating of "Moderate Buy".

Deutsche Bank AG grew its position in shares of SharkNinja, Inc. (NYSE:SN - Free Report) by 50.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 591,957 shares of the company's stock after purchasing an additional 198,873 shares during the period. Deutsche Bank AG owned approximately 0.42% of SharkNinja worth $49,375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Palestra Capital Management LLC increased its stake in 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 acquiring an additional 809,960 shares during the last quarter. Greenvale Capital LLP bought a new position in SharkNinja in the fourth quarter valued at $73,020,000. Raymond James Financial Inc. bought a new position in SharkNinja in the fourth quarter valued at $37,187,000. Jennison Associates LLC bought a new position in SharkNinja in the first quarter valued at $21,336,000. Finally, Hood River Capital Management LLC increased its stake in SharkNinja by 30.1% in the fourth quarter. Hood River Capital Management LLC now owns 1,048,390 shares of the company's stock valued at $102,071,000 after acquiring an additional 242,723 shares during the last quarter. Hedge funds and other institutional investors own 34.77% of the company's stock.

SharkNinja Stock Down 0.9%

SN opened at $114.97 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. SharkNinja, Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $128.51. The firm's fifty day moving average is $103.97 and its 200 day moving average is $96.40. The stock has a market cap of $16.21 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69.

SharkNinja (NYSE:SN - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.19. SharkNinja had a net margin of 8.82% and a return on equity of 28.78%. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the company earned $0.71 EPS. SharkNinja's revenue for the quarter was up 15.7% on a year-over-year basis. On average, sell-side analysts forecast that SharkNinja, Inc. will post 4.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on SN shares. The Goldman Sachs Group increased their target price on SharkNinja from $100.00 to $112.00 and gave the company a "buy" rating in a research note on Friday, May 9th. 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. Jefferies Financial Group set a $175.00 price target on shares of SharkNinja in a research note on Monday, June 30th. Oppenheimer raised their price objective on SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, Guggenheim reaffirmed a "buy" rating on shares of SharkNinja in a research note on Friday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.

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