Thornburg Investment Management Inc. Cuts Position in SharkNinja, Inc. (NYSE:SN)

Key Points

• Thornburg Investment Management Inc. reduced its stake in SharkNinja by 7.5%, selling 16,735 shares, and now holds 207,343 shares valued at approximately $17.3 million.
• SharkNinja reported a quarterly earnings per share of $0.87, surpassing analysts' expectations of $0.73, along with a revenue increase of 14.7% year-over-year to $1.22 billion.
• Several investment firms have raised their price targets for SharkNinja, with Goldman Sachs increasing their projection to $112 and Jefferies setting a target at $175.

Thornburg Investment Management Inc. decreased its holdings in shares of SharkNinja, Inc. (NYSE:SN - Free Report) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,343 shares of the company's stock after selling 16,735 shares during the quarter. Thornburg Investment Management Inc. owned about 0.15% of SharkNinja worth $17,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in SharkNinja by 77.9% during the 1st quarter. GAMMA Investing LLC now owns 354 shares of the company's stock valued at $30,000 after acquiring an additional 155 shares during the period. Quarry LP bought a new stake in SharkNinja during the 4th quarter valued at $47,000. Continuum Advisory LLC raised 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 acquiring an additional 550 shares during the period. Covestor Ltd raised its holdings in SharkNinja by 284.4% during the 4th quarter. Covestor Ltd now owns 642 shares of the company's stock valued at $63,000 after acquiring an additional 475 shares during the period. Finally, IFP Advisors Inc raised its holdings in SharkNinja by 135.6% during the 1st quarter. IFP Advisors Inc now owns 1,303 shares of the company's stock valued at $109,000 after acquiring an additional 750 shares during the period. Institutional investors own 34.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SN. Oppenheimer boosted their target price on shares of SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Canaccord Genuity Group boosted their price target on shares of SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. The Goldman Sachs Group boosted their price target 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. JPMorgan Chase & Co. boosted their price target 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. Finally, Guggenheim reduced their price target on shares of SharkNinja from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, SharkNinja presently has an average rating of "Moderate Buy" and an average target price of $129.13.

SharkNinja Price Performance

Shares of SN traded down $3.84 during mid-day trading on Friday, reaching $112.26. 1,601,205 shares of the stock traded hands, compared to its average volume of 1,268,986. SharkNinja, Inc. has a 1 year low of $60.50 and a 1 year high of $123.00. The firm has a fifty day moving average price of $101.33 and a 200 day moving average price of $96.35. The company has a market cap of $15.83 billion, a price-to-earnings ratio of 35.53, a price-to-earnings-growth ratio of 2.24 and a beta of 1.68. 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 (NYSE:SN - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.14. SharkNinja had a net margin of 7.86% and a return on equity of 28.89%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business earned $1.06 earnings per share. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. As a group, equities research analysts predict that SharkNinja, Inc. will post 4.52 earnings per share for the current year.

SharkNinja Company 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.