Pinnacle Associates Ltd. Sells 4,214 Shares of SharkNinja, Inc. (NYSE:SN)

Key Points

• Pinnacle Associates Ltd. has decreased its position in SharkNinja, Inc. by 19.2%, holding 17,681 shares valued at approximately $1.48 million.
• Several institutional investors are increasing their stakes in SharkNinja, with 34.77% of the stock currently owned by hedge funds and other institutions.
• Wall Street analysts have raised their price targets for SharkNinja, with a consensus target price of $127.25 and a consensus rating of "Moderate Buy."

Pinnacle Associates Ltd. lessened its stake in shares of SharkNinja, Inc. (NYSE:SN - Free Report) by 19.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 17,681 shares of the company's stock after selling 4,214 shares during the period. Pinnacle Associates Ltd.'s holdings in SharkNinja were worth $1,475,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. WCM Investment Management LLC boosted its position in shares of 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 buying an additional 47,339 shares during the period. Cannell & Spears LLC acquired a new position in SharkNinja in the 4th quarter worth about $18,125,000. FMR LLC increased its position in SharkNinja by 59.8% in the 4th 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 increased its position in SharkNinja by 77.9% in the 1st 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 acquired a new position in SharkNinja in the 1st quarter worth about $350,000. Institutional investors and hedge funds own 34.77% of the company's stock.

Wall Street Analyst Weigh In

SN has been the topic of several research reports. 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 report on Thursday, July 17th. Guggenheim lowered their price objective on SharkNinja from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Oppenheimer increased their price objective on SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on SharkNinja from $108.00 to $144.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group increased their price objective on SharkNinja from $100.00 to $112.00 and gave the company a "buy" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $129.13.

SharkNinja Stock Performance

SN traded down $1.57 during midday trading on Wednesday, reaching $116.98. The company's stock had a trading volume of 1,088,671 shares, compared to its average volume of 1,433,964. The stock has a market cap of $16.50 billion, a P/E ratio of 37.02, a PEG ratio of 2.29 and a beta of 1.66. The company has a fifty day simple moving average of $100.55 and a 200 day simple moving average of $96.23. The company has a current ratio of 1.97, a quick ratio of 1.17 and a debt-to-equity ratio of 0.36. SharkNinja, Inc. has a twelve month low of $60.50 and a twelve month high of $123.00.

SharkNinja (NYSE:SN - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.14. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. SharkNinja had a return on equity of 28.89% and a net margin of 7.86%. The company's revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 EPS. Research analysts expect that SharkNinja, Inc. will post 4.52 earnings per share 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.