Alliancebernstein L.P. Has $80.09 Million Stock Position in SharkNinja, Inc. $SN

Key Points

• Alliancebernstein L.P. has significantly reduced its holdings in SharkNinja, Inc. by 47.9%, selling 882,688 shares and holding 960,191 shares valued at approximately $80 million at the end of the most recent quarter.
• SharkNinja reported better-than-expected earnings, with an EPS of $0.97 for the last quarter, surpassing estimates of $0.78, contributing to a year-over-year revenue increase of 15.7% to $1.44 billion.
• Recent analyst coverage shows a generally positive outlook for SharkNinja, with one analyst rating it as a Strong Buy, and a consensus price target of $131.86.

Alliancebernstein L.P. lowered its position in SharkNinja, Inc. (NYSE:SN - Free Report) by 47.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 960,191 shares of the company's stock after selling 882,688 shares during the quarter. Alliancebernstein L.P. owned approximately 0.68% of SharkNinja worth $80,090,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Alua Capital Management LP increased its stake in shares of SharkNinja by 21.8% during the 1st quarter. Alua Capital Management LP now owns 1,269,433 shares of the company's stock worth $105,883,000 after purchasing an additional 226,944 shares during the last quarter. Maverick Capital Ltd. increased its position in SharkNinja by 76.4% during the first quarter. Maverick Capital Ltd. now owns 5,947 shares of the company's stock worth $496,000 after buying an additional 2,576 shares during the last quarter. Royal Bank of Canada raised its stake in SharkNinja by 21.8% in the first quarter. Royal Bank of Canada now owns 71,872 shares of the company's stock valued at $5,995,000 after buying an additional 12,851 shares during the period. Apis Capital Advisors LLC lifted its position in shares of SharkNinja by 2.9% in the first quarter. Apis Capital Advisors LLC now owns 225,600 shares of the company's stock valued at $18,817,000 after buying an additional 6,400 shares during the last quarter. Finally, Armistice Capital LLC boosted its stake in shares of SharkNinja by 52.6% during the 1st quarter. Armistice Capital LLC now owns 210,359 shares of the company's stock worth $17,546,000 after acquiring an additional 72,538 shares during the period. Institutional investors own 34.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SN shares. Canaccord Genuity Group increased their price target on SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Jefferies Financial Group set a $175.00 price objective on shares of SharkNinja in a report on Monday, June 30th. Guggenheim restated a "buy" rating on shares of SharkNinja in a research note on Friday, August 8th. Oppenheimer lifted their target price on shares of SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, Wall Street Zen cut shares of SharkNinja from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $131.86.

SharkNinja Stock Performance

Shares of SharkNinja stock traded down $1.55 during trading on Friday, reaching $113.99. The company's stock had a trading volume of 674,406 shares, compared to its average volume of 1,361,580. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The business's 50-day moving average price is $115.89 and its 200-day moving average price is $97.78. SharkNinja, Inc. has a 52 week low of $60.50 and a 52 week high of $128.51. The firm has a market cap of $16.09 billion, a PE ratio of 31.15, a P/E/G ratio of 2.20 and a beta of 1.68.

SharkNinja (NYSE:SN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.19. The business had revenue of $1.44 billion for 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 for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the firm earned $0.71 earnings per share. SharkNinja has set its FY 2025 guidance at 5.000-5.100 EPS. Equities analysts forecast that SharkNinja, Inc. will post 4.52 earnings per share for the current 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.