GLOBALT Investments LLC GA Makes New Investment in SharkNinja, Inc. (NYSE:SN)

Key Points

• GLOBALT Investments LLC has acquired a new stake in SharkNinja, Inc., purchasing 6,440 shares valued at approximately $537,000 during the first quarter.
• SharkNinja has recently received several upgrades from analysts, with JPMorgan Chase & Co. raising their price target from $108.00 to $144.00, indicating strong market confidence.
• The company reported a 14.7% year-over-year increase in quarterly revenue, amounting to $1.22 billion, along with an earnings per share (EPS) of $0.87, surpassing analyst estimates.

GLOBALT Investments LLC GA bought a new stake in shares of SharkNinja, Inc. (NYSE:SN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,440 shares of the company's stock, valued at approximately $537,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SN. GAMMA Investing LLC grew its position in SharkNinja by 77.9% in the first quarter. GAMMA Investing LLC now owns 354 shares of the company's stock valued at $30,000 after acquiring an additional 155 shares during the period. Quarry LP bought a new stake in SharkNinja in the fourth quarter valued at $47,000. Continuum Advisory LLC grew its position in SharkNinja by 6,875.0% in the fourth quarter. Continuum Advisory LLC now owns 558 shares of the company's stock valued at $54,000 after acquiring an additional 550 shares during the period. Covestor Ltd grew its position in SharkNinja by 284.4% in the fourth quarter. Covestor Ltd now owns 642 shares of the company's stock valued at $63,000 after acquiring an additional 475 shares during the period. Finally, IFP Advisors Inc boosted its stake in SharkNinja by 135.6% in the first quarter. IFP Advisors Inc now owns 1,303 shares of the company's stock worth $109,000 after purchasing an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 34.77% of the company's stock.

Analyst Upgrades and Downgrades

SN has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $175.00 price objective on SharkNinja in a research note on Monday, June 30th. Morgan Stanley increased their price target on SharkNinja from $85.00 to $101.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. increased their price target on SharkNinja from $108.00 to $144.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Guggenheim cut their price objective on SharkNinja from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, The Goldman Sachs Group upped their price objective on SharkNinja from $100.00 to $112.00 and gave the company a "buy" rating in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, SharkNinja has a consensus rating of "Moderate Buy" and a consensus price target of $129.13.

SharkNinja Stock Up 0.1%

Shares of SharkNinja stock traded up $0.14 on Wednesday, hitting $118.69. The company had a trading volume of 295,989 shares, compared to its average volume of 1,655,399. The stock has a 50 day moving average of $100.16 and a 200-day moving average of $96.08. The stock has a market capitalization of $16.74 billion, a price-to-earnings ratio of 37.47, a P/E/G ratio of 2.32 and a beta of 1.66. SharkNinja, Inc. has a 1 year low of $60.50 and a 1 year high of $123.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.17 and a current ratio of 1.97.

SharkNinja (NYSE:SN - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.14. SharkNinja had a return on equity of 28.89% and a net margin of 7.86%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $1.06 earnings per share. The business's revenue for the quarter was up 14.7% on a year-over-year basis. As a group, sell-side analysts forecast 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.