Shellback Capital LP Has $12 Million Position in SharkNinja, Inc. $SN

Key Points

• Shellback Capital LP has reduced its holdings in SharkNinja, Inc. by 35.9%, selling 80,585 shares and retaining 143,915 shares valued at $12 million.
• Institutional investors have shown significant interest in SharkNinja, with GAMMA Investing LLC increasing its stake by 77.9% and Harbour Investments Inc. growing its position by 5,800.0% during the first quarter.
• SharkNinja's stock reported $0.97 EPS in its last quarterly earnings, surpassing estimates, with a 15.7% revenue increase year-over-year, and guidance for FY 2025 EPS set at 5.000-5.100.

Shellback Capital LP decreased its holdings in SharkNinja, Inc. (NYSE:SN - Free Report) by 35.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 143,915 shares of the company's stock after selling 80,585 shares during the quarter. Shellback Capital LP owned approximately 0.10% of SharkNinja worth $12,004,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new stake in shares of SharkNinja during the first quarter worth $369,000. Jacobs Levy Equity Management Inc. raised its position in shares of SharkNinja by 185.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 141,919 shares of the company's stock worth $11,837,000 after acquiring an additional 92,235 shares during the last quarter. Granahan Investment Management LLC raised its position in shares of SharkNinja by 2.5% during the first quarter. Granahan Investment Management LLC now owns 175,694 shares of the company's stock worth $14,655,000 after acquiring an additional 4,311 shares during the last quarter. Boothbay Fund Management LLC raised its position in shares of SharkNinja by 300.1% during the first quarter. Boothbay Fund Management LLC now owns 104,068 shares of the company's stock worth $8,680,000 after acquiring an additional 78,060 shares during the last quarter. Finally, Bwcp LP bought a new stake in shares of SharkNinja during the first quarter worth $16,760,000. Institutional investors own 34.77% of the company's stock.

SharkNinja Trading Down 0.7%

NYSE SN traded down $0.84 on Friday, reaching $114.70. The company had a trading volume of 230,990 shares, compared to its average volume of 1,624,535. The stock's 50 day moving average is $115.77 and its 200-day moving average is $97.71. The stock has a market cap of $16.19 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 2.20 and a beta of 1.68. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. SharkNinja, Inc. has a 52 week low of $60.50 and a 52 week high of $128.51.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SN. Oppenheimer boosted their target price on SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Jefferies Financial Group set a $175.00 target price on SharkNinja in a research report on Monday, June 30th. Guggenheim restated a "buy" rating on shares of SharkNinja in a research report on Friday, August 8th. JPMorgan Chase & Co. upped 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, Canaccord Genuity Group upped their price objective on SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $131.86.

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.