Focus Partners Wealth Cuts Stake in SharkNinja, Inc. $SN

Key Points

• Focus Partners Wealth reduced its stake in SharkNinja by 24.6%, now holding 76,650 shares valued at approximately $6.39 million as of the latest SEC filing.
• Several institutional investors have significantly increased their holdings, with Harbour Investments Inc. boosting its stake by 5,800% and GAMMA Investing LLC increasing by 77.9% in the first quarter.
• SharkNinja's earnings report showed a strong performance, with reported EPS of $0.97, exceeding estimates, and a revenue of $1.44 billion, marking a 15.7% increase year-over-year.

Focus Partners Wealth cut its holdings in shares of SharkNinja, Inc. (NYSE:SN - Free Report) by 24.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,650 shares of the company's stock after selling 24,945 shares during the quarter. Focus Partners Wealth owned 0.05% of SharkNinja worth $6,393,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Northern Trust Corp raised its stake in shares of SharkNinja by 14.5% in the fourth quarter. Northern Trust Corp now owns 131,285 shares of the company's stock valued at $12,782,000 after acquiring an additional 16,607 shares in the last quarter. Man Group plc purchased a new position in shares of SharkNinja in the 4th quarter valued at about $1,097,000. Sandia Investment Management LP acquired a new position in shares of SharkNinja during the fourth quarter worth about $487,000. Safe Harbor Fiduciary LLC increased its stake in shares of SharkNinja by 200.0% during the fourth quarter. Safe Harbor Fiduciary LLC now owns 1,500 shares of the company's stock worth $146,000 after buying an additional 1,000 shares during the period. Finally, Tenzing Global Management LLC acquired a new stake in SharkNinja in the fourth quarter valued at approximately $2,434,000. Institutional investors and hedge funds own 34.77% of the company's stock.

SharkNinja Stock Performance

SharkNinja stock traded up $0.63 during midday trading on Monday, hitting $114.56. 841,150 shares of the company's stock were exchanged, compared to its average volume of 1,347,657. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.20 and a current ratio of 1.94. The stock has a market cap of $16.17 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 2.16 and a beta of 1.68. SharkNinja, Inc. has a 12-month low of $60.50 and a 12-month high of $128.51. The firm's 50 day simple moving average is $116.07 and its 200 day simple moving average is $97.75.

SharkNinja (NYSE:SN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.19. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.38 billion. SharkNinja had a net margin of 8.82% and a return on equity of 28.78%. The business's quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. SharkNinja has set its FY 2025 guidance at 5.000-5.100 EPS. Equities research analysts predict that SharkNinja, Inc. will post 4.52 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on SN. Jefferies Financial Group set a $175.00 price objective on shares of SharkNinja in a research report on Monday, June 30th. Oppenheimer raised their price target on SharkNinja from $120.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Wall Street Zen downgraded SharkNinja from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. 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, Guggenheim restated a "buy" rating on shares of SharkNinja in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $131.86.

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.