Knightsbridge Asset Management LLC Sells 4,419 Shares of SharkNinja, Inc. $SN

Key Points

• Knightsbridge Asset Management LLC reduced its stake in SharkNinja, Inc. by 4.0%, now holding approximately 105,411 shares, which represents about 2.2% of its total holdings.
• Several hedge funds increased their positions in SharkNinja during the same quarter, with WCM Investment Management LLC growing its stake by 27.1% and Caitong International Asset Management raising its stake by 504.3%.
• SharkNinja recently reported earnings exceeding expectations, with $0.97 earnings per share against a consensus estimate of $0.78, reflecting a 15.7% year-over-year revenue increase.

Knightsbridge Asset Management LLC trimmed its holdings in shares of SharkNinja, Inc. (NYSE:SN - Free Report) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,411 shares of the company's stock after selling 4,419 shares during the period. SharkNinja comprises approximately 2.2% of Knightsbridge Asset Management LLC's investment portfolio, making the stock its 11th largest holding. Knightsbridge Asset Management LLC owned 0.08% of SharkNinja worth $8,792,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SN. Forum Financial Management LP increased its holdings in SharkNinja by 5.3% during the first quarter. Forum Financial Management LP now owns 2,872 shares of the company's stock worth $240,000 after buying an additional 144 shares during the last quarter. GAMMA Investing LLC grew its position in shares of SharkNinja by 77.9% during the 1st 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. Xponance Inc. increased its stake in shares of SharkNinja by 5.4% during the 1st quarter. Xponance Inc. now owns 4,273 shares of the company's stock worth $356,000 after purchasing an additional 220 shares during the last quarter. Azzad Asset Management Inc. ADV increased its stake in shares of SharkNinja by 0.8% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 37,852 shares of the company's stock worth $3,685,000 after purchasing an additional 296 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in SharkNinja by 2.1% in the first quarter. Envestnet Asset Management Inc. now owns 18,948 shares of the company's stock valued at $1,580,000 after purchasing an additional 396 shares during the last quarter. Institutional investors own 34.77% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on SN. Wall Street Zen lowered SharkNinja from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Guggenheim reiterated a "buy" rating on shares of SharkNinja in a research note on Friday, August 8th. Oppenheimer lifted their price objective on SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Canaccord Genuity Group upped their price objective on shares of SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Zacks Research upgraded shares of SharkNinja from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $131.86.

SharkNinja Stock Performance

Shares of NYSE SN traded down $0.90 during mid-day trading on Friday, hitting $114.65. The company had a trading volume of 271,227 shares, compared to its average volume of 1,624,703. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.32. SharkNinja, Inc. has a 1 year low of $60.50 and a 1 year high of $128.51. The company has a market capitalization of $16.18 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 2.20 and a beta of 1.68. The stock's 50-day moving average price is $115.77 and its 200-day moving average price is $97.71.

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

SharkNinja 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.