Scotia Capital Inc. Takes Position in SharkNinja, Inc. (NYSE:SN)

Key Points

• Scotia Capital Inc. acquired a new position in SharkNinja, purchasing 27,235 shares valued at approximately $2.27 million in the first quarter.
• Analysts have generally assigned a "Moderate Buy" rating to SharkNinja, with average price targets ranging from $100.00 to $136.00 following recent adjustments.
• SharkNinja reported a 14.7% increase year-over-year in quarterly revenue, reaching $1.22 billion and exceeding analysts' expectations.

Scotia Capital Inc. bought a new position in shares of SharkNinja, Inc. (NYSE:SN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,235 shares of the company's stock, valued at approximately $2,272,000.

Several other institutional investors have also recently made changes to their positions in the business. Forum Financial Management LP grew its stake in shares of SharkNinja by 5.3% during the 1st quarter. Forum Financial Management LP now owns 2,872 shares of the company's stock worth $240,000 after purchasing an additional 144 shares during the period. Voya Investment Management LLC boosted its holdings in SharkNinja by 1.2% during the fourth quarter. Voya Investment Management LLC now owns 13,168 shares of the company's stock worth $1,282,000 after buying an additional 154 shares in the last quarter. GAMMA Investing LLC grew its position in SharkNinja by 77.9% during 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 period. Treasurer of the State of North Carolina increased its holdings in SharkNinja by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 29,100 shares of the company's stock valued at $2,833,000 after buying an additional 180 shares in the last quarter. Finally, Xponance Inc. raised its position in shares of SharkNinja by 5.4% in the first quarter. Xponance Inc. now owns 4,273 shares of the company's stock worth $356,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors own 34.77% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SN. The Goldman Sachs Group upped their price target on SharkNinja from $100.00 to $112.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Canaccord Genuity Group upped their target price on SharkNinja from $127.00 to $136.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Guggenheim dropped their price target 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. Morgan Stanley boosted their price target on shares of SharkNinja from $85.00 to $101.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Finally, Oppenheimer increased their price objective on shares of SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, SharkNinja has an average rating of "Moderate Buy" and an average price target of $129.13.

SharkNinja Price Performance

SharkNinja stock opened at $115.69 on Wednesday. The company has a fifty day simple moving average of $102.18 and a 200-day simple moving average of $96.37. The firm has a market capitalization of $16.32 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 2.25 and a beta of 1.69. 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, Inc. has a 52-week low of $60.50 and a 52-week high of $123.00.

SharkNinja (NYSE:SN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.14. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. SharkNinja had a net margin of 7.86% and a return on equity of 28.89%. SharkNinja's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. On average, equities analysts anticipate that SharkNinja, Inc. will post 4.52 EPS for the current fiscal 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.

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