Pinnacle Wealth Management LLC Acquires Shares of 6,544 SharkNinja, Inc. $SN

Key Points

• Pinnacle Wealth Management LLC acquired 6,544 shares of SharkNinja, Inc. for approximately $546,000, marking a notable investment in the company.
• SharkNinja reported a 15.7% year-over-year increase in revenue for the last quarter, totaling $1.44 billion and outpacing consensus estimates.
• Several firms have significantly increased their stakes in SharkNinja, with First Trust Advisors LP experiencing an impressive 489.5% increase in its position during the fourth quarter.

Pinnacle Wealth Management LLC bought a new stake in shares of SharkNinja, Inc. (NYSE:SN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,544 shares of the company's stock, valued at approximately $546,000.

Several other large investors have also recently made changes to their positions in the business. Wells Fargo & Company MN increased its stake in shares of SharkNinja by 14.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,944 shares of the company's stock worth $968,000 after purchasing an additional 1,280 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of SharkNinja by 28.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 18,552 shares of the company's stock valued at $1,806,000 after acquiring an additional 4,160 shares in the last quarter. Mariner LLC bought a new position in SharkNinja in the fourth quarter worth approximately $264,000. Forum Financial Management LP acquired a new position in shares of SharkNinja during the fourth quarter worth $266,000. Finally, First Trust Advisors LP increased its position in shares of SharkNinja by 489.5% in the 4th quarter. First Trust Advisors LP now owns 226,751 shares of the company's stock valued at $22,076,000 after acquiring an additional 188,283 shares during the period. 34.77% of the stock is currently owned by hedge funds and other institutional investors.

SharkNinja Stock Performance

Shares of SN stock opened at $119.12 on Monday. 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 12 month low of $60.50 and a 12 month high of $128.51. The company has a market cap of $16.80 billion, a P/E ratio of 32.55, a PEG ratio of 2.34 and a beta of 1.69. The firm has a fifty day moving average price of $106.40 and a 200 day moving average price of $96.59.

SharkNinja (NYSE:SN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.19. SharkNinja had a net margin of 8.82% and a return on equity of 28.78%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. SharkNinja's revenue for the quarter was up 15.7% on a year-over-year basis. Sell-side analysts predict that SharkNinja, Inc. will post 4.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group increased their target price on shares of SharkNinja from $127.00 to $136.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Wall Street Zen downgraded shares of SharkNinja from a "buy" rating to a "hold" rating in a research note on Sunday. Morgan Stanley lifted their target price 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. lifted their target price on shares of SharkNinja from $108.00 to $144.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Finally, Guggenheim restated a "buy" rating on shares of SharkNinja in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, SharkNinja currently has an average rating of "Moderate Buy" and a consensus price target of $131.86.

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.

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