Encompass More Asset Management Purchases 2,209 Shares of SharkNinja, Inc. (NYSE:SN)

Key Points

• Encompass More Asset Management increased its stake in SharkNinja, Inc. by 39.3% in Q1, bringing its total shares to 7,836, valued at approximately $654,000.
• SharkNinja's quarterly earnings exceeded expectations, reporting a net revenue of $1.22 billion and an EPS of $0.87, beating the consensus estimate by $0.14.
• Several institutional investors raised their stakes in SharkNinja recently, with FMR LLC leading with a 59.8% increase, now holding over 16 million shares worth approximately $1.6 billion.

Encompass More Asset Management lifted its holdings in SharkNinja, Inc. (NYSE:SN - Free Report) by 39.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,836 shares of the company's stock after buying an additional 2,209 shares during the period. Encompass More Asset Management's holdings in SharkNinja were worth $654,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake 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 acquiring an additional 9,484 shares during the period. Geode Capital Management LLC grew its holdings in shares of SharkNinja by 10.2% in the fourth quarter. Geode Capital Management LLC now owns 404,874 shares of the company's stock valued at $39,419,000 after purchasing an additional 37,466 shares during the period. Wells Fargo & Company MN boosted its stake in SharkNinja by 14.8% during the fourth quarter. Wells Fargo & Company MN now owns 9,944 shares of the company's stock worth $968,000 after buying an additional 1,280 shares during the period. Grantham Mayo Van Otterloo & Co. LLC purchased a new position in SharkNinja during the fourth quarter worth about $376,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of SharkNinja by 28.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 18,552 shares of the company's stock worth $1,806,000 after purchasing an additional 4,160 shares in the last quarter. Institutional investors own 34.77% of the company's stock.

SharkNinja Stock Performance

Shares of NYSE SN traded up $1.21 during midday trading on Thursday, hitting $115.37. 3,410,810 shares of the company's stock were exchanged, compared to its average volume of 1,300,009. The firm has a market capitalization of $16.27 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 2.20 and a beta of 1.69. The company has a quick ratio of 1.17, a current ratio of 1.97 and a debt-to-equity ratio of 0.36. The company's 50 day moving average price is $103.02 and its 200 day moving average price is $96.53. SharkNinja, Inc. has a 12 month low of $60.50 and a 12 month high of $128.51.

SharkNinja (NYSE:SN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.78 by $0.19. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. SharkNinja had a return on equity of 28.89% and a net margin of 7.86%. The firm's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 EPS. As a group, analysts predict that SharkNinja, Inc. will post 4.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SN shares. Morgan Stanley boosted their price objective on shares of SharkNinja from $85.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Canaccord Genuity Group increased their price objective on shares of SharkNinja from $127.00 to $136.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Guggenheim lowered their price objective on shares of SharkNinja from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Jefferies Financial Group set a $175.00 price objective on shares of SharkNinja in a report on Monday, June 30th. Finally, Oppenheimer raised their target price on SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, SharkNinja 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.