Element Capital Management LLC Buys New Shares in SharkNinja, Inc. $SN

Key Points

• Element Capital Management LLC purchased 30,377 shares of SharkNinja, valued at approximately $2.53 million, during the 1st quarter.
• SharkNinja's quarterly earnings exceeded expectations with $0.97 EPS, compared to a consensus estimate of $0.78, alongside a revenue growth of 15.7% year-over-year.
• Analysts have upgraded SharkNinja's rating to "buy," with a consensus target price of $131.86, indicating expected growth potential for the company.

Element Capital Management LLC purchased a new stake in SharkNinja, Inc. (NYSE:SN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,377 shares of the company's stock, valued at approximately $2,534,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in SharkNinja by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 159,888 shares of the company's stock valued at $15,567,000 after purchasing an additional 9,484 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of SharkNinja by 14.8% during the fourth quarter. Wells Fargo & Company MN now owns 9,944 shares of the company's stock valued at $968,000 after buying an additional 1,280 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of SharkNinja by 28.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 18,552 shares of the company's stock valued at $1,806,000 after acquiring an additional 4,160 shares in the last quarter. Mariner LLC purchased a new stake in SharkNinja in the fourth quarter worth about $264,000. Finally, XTX Topco Ltd bought a new position in SharkNinja during the 4th quarter worth about $790,000. 34.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on SN shares. Morgan Stanley boosted their price target on shares of SharkNinja from $85.00 to $101.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. The Goldman Sachs Group lifted their price objective on shares of SharkNinja from $100.00 to $112.00 and gave the company a "buy" rating in a report on Friday, May 9th. Jefferies Financial Group set a $175.00 target price on SharkNinja in a report on Monday, June 30th. Canaccord Genuity Group increased their target price on SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Guggenheim reissued a "buy" rating on shares of SharkNinja in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, SharkNinja presently has a consensus rating of "Moderate Buy" and an average target price of $131.86.

SharkNinja Stock Down 3.3%

NYSE:SN traded down $3.8890 during mid-day trading on Thursday, hitting $115.7010. 2,263,936 shares of the company's stock traded hands, compared to its average volume of 1,646,290. The company has a fifty day moving average of $108.22 and a 200 day moving average of $96.96. 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 twelve month low of $60.50 and a twelve month high of $128.51. The company has a market capitalization of $16.32 billion, a P/E ratio of 31.63, a P/E/G ratio of 2.34 and a beta of 1.69.

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

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.