Palestra Capital Management LLC Has $117.06 Million Position in SharkNinja, Inc. $SN

Key Points

• Palestra Capital Management LLC reduced its stake in SharkNinja, Inc. by 21.2%, selling 377,397 shares, which now represents about 4.6% of its total holdings.
• Several institutional investors have recently modified their holdings in SharkNinja, with GAMMA Investing LLC increasing its stake by 77.9%, indicating growing interest in the company.
• SharkNinja's quarterly earnings exceeded expectations, reporting $0.97 EPS against analysts' estimates of $0.78, alongside a 15.7% year-over-year revenue growth.

Palestra Capital Management LLC lowered its holdings in shares of SharkNinja, Inc. (NYSE:SN - Free Report) by 21.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,403,388 shares of the company's stock after selling 377,397 shares during the period. SharkNinja accounts for approximately 4.6% of Palestra Capital Management LLC's holdings, making the stock its 12th largest position. Palestra Capital Management LLC owned about 1.00% of SharkNinja worth $117,057,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SN. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 155 shares during the last quarter. Harbour Investments Inc. raised its stake in SharkNinja by 5,800.0% in the 1st quarter. Harbour Investments Inc. now owns 413 shares of the company's stock valued at $34,000 after acquiring an additional 406 shares during the period. SVB Wealth LLC bought a new stake in SharkNinja in the 1st quarter valued at $36,000. Continuum Advisory LLC lifted its holdings in SharkNinja by 6,875.0% during the 4th quarter. Continuum Advisory LLC now owns 558 shares of the company's stock valued at $54,000 after purchasing an additional 550 shares during the last quarter. Finally, Covestor Ltd boosted its position in SharkNinja by 96.0% during the first quarter. Covestor Ltd now owns 1,258 shares of the company's stock worth $105,000 after purchasing an additional 616 shares during the period. Institutional investors and hedge funds own 34.77% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SN shares. Guggenheim reissued a "buy" rating on shares of SharkNinja in a research report on Friday, August 8th. Oppenheimer increased their price target on shares of SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, July 28th. JPMorgan Chase & Co. boosted their price objective on SharkNinja from $108.00 to $144.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Zacks Research raised SharkNinja from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Finally, Jefferies Financial Group set a $175.00 price target on SharkNinja in a report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $131.86.

SharkNinja Stock Performance

Shares of SN traded down $0.25 during mid-day trading on Thursday, hitting $115.79. 878,090 shares of the company's stock were exchanged, compared to its average volume of 1,632,627. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. SharkNinja, Inc. has a 52 week low of $60.50 and a 52 week high of $128.51. The stock's 50-day simple moving average is $115.61 and its 200-day simple moving average is $97.62. The firm has a market cap of $16.34 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 2.19 and a beta of 1.68.

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

About SharkNinja

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.