Federated Hermes Inc. Increases Stock Holdings in SharkNinja, Inc. (NYSE:SN)

Key Points

• Federated Hermes Inc. increased its holdings in SharkNinja, Inc. by 14.7% during the 1st quarter, now owning about 1.3 million shares worth approximately $108.91 million.
• SharkNinja recently reported $1.22 billion in revenue for the last quarter, surpassing analysts' estimates, and showed a 14.7% increase compared to the same period last year.
• Analysts have set new price targets for SharkNinja, with mean estimates ranging from $101.00 to $175.00, reflecting a consensus rating of "Moderate Buy".

Federated Hermes Inc. grew its stake in SharkNinja, Inc. (NYSE:SN - Free Report) by 14.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,305,771 shares of the company's stock after acquiring an additional 167,757 shares during the quarter. Federated Hermes Inc. owned 0.93% of SharkNinja worth $108,914,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of SharkNinja by 59.8% in the fourth 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 period. Palestra Capital Management LLC grew its holdings in SharkNinja by 83.4% during the 4th 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 in the last quarter. Hood River Capital Management LLC grew its holdings in SharkNinja by 30.1% during the 4th quarter. Hood River Capital Management LLC now owns 1,048,390 shares of the company's stock valued at $102,071,000 after buying an additional 242,723 shares in the last quarter. Alua Capital Management LP boosted its holdings in shares of SharkNinja by 17.5% in the 4th quarter. Alua Capital Management LP now owns 1,042,489 shares of the company's stock worth $101,497,000 after purchasing an additional 155,605 shares during the period. Finally, Norges Bank purchased a new position in shares of SharkNinja in the 4th quarter worth approximately $100,845,000. 34.77% of the stock is owned by institutional investors.

SharkNinja Stock Down 3.3%

NYSE SN traded down $3.81 on Friday, reaching $112.29. 1,118,957 shares of the stock traded hands, compared to its average volume of 1,653,361. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.17 and a current ratio of 1.97. The company has a fifty day moving average price of $100.97 and a 200-day moving average price of $96.31. The company has a market cap of $15.84 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 2.26 and a beta of 1.66. SharkNinja, Inc. has a 12 month low of $60.50 and a 12 month high of $123.00.

SharkNinja (NYSE:SN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.73 by $0.14. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. SharkNinja had a return on equity of 28.89% and a net margin of 7.86%. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 EPS. As a group, research analysts forecast that SharkNinja, Inc. will post 4.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SN has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their target price on SharkNinja from $127.00 to $136.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Oppenheimer raised their price target on SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a research note on Monday. Jefferies Financial Group set a $175.00 price target on SharkNinja in a research note on Monday, June 30th. Guggenheim decreased their price target on SharkNinja from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. raised their price target on SharkNinja from $108.00 to $144.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, SharkNinja presently has an average rating of "Moderate Buy" and a consensus target price of $129.13.

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.