Raymond James Financial Inc. Cuts Position in SharkNinja, Inc. $SN

Key Points

• Raymond James Financial Inc. has reduced its stake in SharkNinja, Inc. by 22% during the first quarter, now holding 297,795 shares valued at approximately $24.8 million.
• Several institutional investors, including Element Capital Management and Caitong International Asset Management, have recently adjusted their positions in SharkNinja, further indicating interest in the company.
• SharkNinja's stock has received multiple price target increases from analysts, with an average price target now at $131.86 and a general rating of "Buy."

Raymond James Financial Inc. lessened its position in SharkNinja, Inc. (NYSE:SN - Free Report) by 22.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 297,795 shares of the company's stock after selling 84,163 shares during the period. Raymond James Financial Inc. owned about 0.21% of SharkNinja worth $24,839,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Element Capital Management LLC bought a new position in SharkNinja during the first quarter valued at approximately $2,534,000. Caitong International Asset Management Co. Ltd lifted its position in SharkNinja by 504.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,502 shares of the company's stock valued at $209,000 after purchasing an additional 2,088 shares during the period. Russell Investments Group Ltd. lifted its position in SharkNinja by 86.6% during the first quarter. Russell Investments Group Ltd. now owns 65,471 shares of the company's stock valued at $5,461,000 after purchasing an additional 30,389 shares during the period. Nuveen LLC bought a new position in SharkNinja during the first quarter valued at approximately $15,003,000. Finally, Virtu Financial LLC bought a new position in SharkNinja during the first quarter valued at approximately $987,000. Institutional investors own 34.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. 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 research report on Friday, July 25th. Oppenheimer increased their price objective on shares of SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. The Goldman Sachs Group increased their price objective on shares of SharkNinja from $100.00 to $112.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Zacks Research upgraded shares of SharkNinja from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Finally, Morgan Stanley increased their price objective on shares of SharkNinja from $85.00 to $101.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, SharkNinja currently has an average rating of "Buy" and an average price target of $131.86.

SharkNinja Trading Down 0.8%

NYSE:SN opened at $115.95 on Tuesday. 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 quick ratio of 1.20 and a current ratio of 1.94. The firm has a market cap of $16.37 billion, a P/E ratio of 31.68, a P/E/G ratio of 2.44 and a beta of 1.69. The firm has a 50-day simple moving average of $110.05 and a 200-day simple moving average of $96.83.

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

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