HighTower Advisors LLC Sells 134,570 Shares of SharkNinja, Inc. (NYSE:SN)

Key Points

• HighTower Advisors LLC reduced its holdings in SharkNinja, Inc. by selling 134,570 shares, resulting in ownership of 7,045,186 shares, which constitutes 0.8% of its portfolio.
• SharkNinja's quarterly earnings surpassed expectations, reporting $0.97 earnings per share on revenue of $1.44 billion, indicating a significant annual growth of 15.7%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for SharkNinja, with a target price averaging around $129.13, reflecting positive market sentiment.

HighTower Advisors LLC trimmed its stake in shares of SharkNinja, Inc. (NYSE:SN - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 7,045,186 shares of the company's stock after selling 134,570 shares during the quarter. SharkNinja comprises about 0.8% of HighTower Advisors LLC's portfolio, making the stock its 13th biggest holding. HighTower Advisors LLC owned approximately 5.02% of SharkNinja worth $587,639,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of SharkNinja by 77.9% during the 1st quarter. GAMMA Investing LLC now owns 354 shares of the company's stock worth $30,000 after buying an additional 155 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of SharkNinja by 5,800.0% during the 1st quarter. Harbour Investments Inc. now owns 413 shares of the company's stock worth $34,000 after buying an additional 406 shares in the last quarter. Quarry LP acquired a new position in shares of SharkNinja during the 4th quarter worth $47,000. Continuum Advisory LLC raised its holdings in shares of SharkNinja by 6,875.0% during the 4th quarter. Continuum Advisory LLC now owns 558 shares of the company's stock worth $54,000 after buying an additional 550 shares in the last quarter. Finally, Covestor Ltd raised its holdings in shares of SharkNinja by 284.4% during the 4th quarter. Covestor Ltd now owns 642 shares of the company's stock worth $63,000 after buying an additional 475 shares in the last quarter. 34.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SN shares. Guggenheim reaffirmed a "buy" rating on shares of SharkNinja in a report on Friday, August 8th. Oppenheimer increased their price target on SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. The Goldman Sachs Group increased their price target on SharkNinja from $100.00 to $112.00 and gave the company a "buy" rating in a research note 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 note on Friday, July 25th. Finally, 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 note on Friday, May 9th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.86.

SharkNinja Trading Down 1.3%

Shares of SharkNinja stock traded down $1.60 on Thursday, hitting $119.39. 1,266,377 shares of the company's stock traded hands, compared to its average volume of 1,657,237. SharkNinja, Inc. has a one year low of $60.50 and a one year high of $128.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.20. The company has a fifty day moving average of $105.12 and a two-hundred day moving average of $96.71. The company has a market capitalization of $16.84 billion, a price-to-earnings ratio of 32.62, a price-to-earnings-growth ratio of 2.29 and a beta of 1.69.

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. SharkNinja had a return on equity of 28.78% and a net margin of 8.82%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the company earned $0.71 EPS. The firm's revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, sell-side analysts expect 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.