Machina Capital S.A.S. Takes Position in SharkNinja, Inc. (NYSE:SN)

Key Points

• Machina Capital S.A.S. has acquired 4,744 shares of SharkNinja, Inc., valued at approximately $396,000, indicating growing institutional interest in the company.
• SharkNinja reported a 14.7% increase in year-over-year revenue, reaching $1.22 billion for the quarter, significantly exceeding analyst expectations.
• Analysts have rated SharkNinja with an average price target of $127.25, reflecting a generally optimistic outlook with multiple firms adjusting their price targets upwards.

Machina Capital S.A.S. acquired a new stake in shares of SharkNinja, Inc. (NYSE:SN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,744 shares of the company's stock, valued at approximately $396,000.

Other institutional investors have also recently made changes to their positions in the company. WCM Investment Management LLC lifted its stake in SharkNinja by 27.1% in the first quarter. WCM Investment Management LLC now owns 221,766 shares of the company's stock worth $18,633,000 after purchasing an additional 47,339 shares during the last quarter. Cannell & Spears LLC bought a new position in SharkNinja in the fourth quarter worth approximately $18,125,000. FMR LLC grew its holdings in 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 purchasing an additional 6,160,226 shares during the last quarter. GAMMA Investing LLC grew its holdings in SharkNinja by 77.9% in the first quarter. GAMMA Investing LLC now owns 354 shares of the company's stock worth $30,000 after purchasing an additional 155 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in SharkNinja in the first quarter worth $350,000. Hedge funds and other institutional investors own 34.77% of the company's stock.

SharkNinja Stock Down 1.1%

SN stock traded down $1.28 during midday trading on Tuesday, hitting $118.74. The company's stock had a trading volume of 254,465 shares, compared to its average volume of 1,659,539. SharkNinja, Inc. has a 52-week low of $60.50 and a 52-week high of $123.00. The firm has a 50-day simple moving average of $99.80 and a 200-day simple moving average of $95.92. The firm has a market capitalization of $16.75 billion, a P/E ratio of 37.66, a PEG ratio of 2.32 and a beta of 1.66. The company has a quick ratio of 1.17, a current ratio of 1.97 and a debt-to-equity ratio of 0.36.

SharkNinja (NYSE:SN - Get Free Report) last announced 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. SharkNinja had a net margin of 7.86% and a return on equity of 28.89%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the business earned $1.06 EPS. SharkNinja's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts forecast that SharkNinja, Inc. will post 4.52 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Canaccord Genuity Group upped their target price on SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Guggenheim lowered their target price on shares of SharkNinja from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Jefferies Financial Group set a $175.00 price target on shares of SharkNinja in a research report on Monday, June 30th. JPMorgan Chase & Co. increased their price objective on shares of SharkNinja from $108.00 to $144.00 and gave the company an "overweight" rating in a report on Friday. Finally, Oppenheimer raised their price target on shares of SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, SharkNinja presently has a consensus rating of "Moderate Buy" and an average price target 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.