Thornburg Investment Management Inc. Sells 16,735 Shares of 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. reduced its holdings in SharkNinja, Inc. (NYSE:SN - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent filing with the 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 approximately 0.15% of SharkNinja worth $17,294,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of SharkNinja by 6.3% in the 4th quarter. Vanguard Group Inc. now owns 159,888 shares of the company's stock valued at $15,567,000 after purchasing an additional 9,484 shares during the period. Norges Bank bought a new stake in SharkNinja in the 4th quarter valued at about $100,845,000. RWA Wealth Partners LLC bought a new stake in SharkNinja during the 4th quarter valued at $1,580,000. Wellington Management Group LLP increased its stake in SharkNinja by 47.1% during the 4th quarter. Wellington Management Group LLP now owns 549,768 shares of the company's stock valued at $53,525,000 after purchasing an additional 175,978 shares in the last quarter. Finally, Cannell & Spears LLC bought a new stake in SharkNinja during the 4th quarter valued at $18,125,000. Institutional investors own 34.77% of the company's stock.

SharkNinja Stock Performance

Shares of NYSE:SN traded down $3.84 during trading on Friday, hitting $112.26. 1,601,205 shares of the company were exchanged, compared to its average volume of 1,657,584. The company has a market cap of $15.83 billion, a PE ratio of 35.53, a P/E/G ratio of 2.26 and a beta of 1.66. The stock has a 50 day moving average of $100.97 and a 200 day moving average of $96.31. SharkNinja, Inc. has a 52-week low of $60.50 and a 52-week high of $123.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.97 and a quick ratio of 1.17.

SharkNinja (NYSE:SN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.14. SharkNinja had a return on equity of 28.89% and a net margin of 7.86%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the business posted $1.06 earnings per share. The firm's 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 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. 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 note on Friday, May 9th. Canaccord Genuity Group boosted their price objective on SharkNinja from $127.00 to $136.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Oppenheimer boosted their price objective on SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday. Morgan Stanley upped their target price on SharkNinja from $85.00 to $101.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Finally, Jefferies Financial Group set a $175.00 target price on SharkNinja in a report on Monday, June 30th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.13.

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.