Vident Advisory LLC Buys Shares of 4,194 SharkNinja, Inc. $SN

Key Points

• Vident Advisory LLC acquired 4,194 shares of SharkNinja, Inc., worth approximately $350,000, during the first quarter, indicating growing institutional interest in the company.
• SharkNinja's stock rating has seen varied adjustments from analysts; JPMorgan Chase raised the price target to $144.00, while Wall Street Zen downgraded it to a "hold".
• The company reported a solid earnings performance with $0.97 earnings per share, surpassing the consensus estimate by $0.19, and had a quarterly revenue increase of 15.7% year-over-year.

Vident Advisory LLC bought a new stake in SharkNinja, Inc. (NYSE:SN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,194 shares of the company's stock, valued at approximately $350,000.

A number of other hedge funds have also modified their holdings of the business. Forum Financial Management LP lifted its holdings in shares of SharkNinja by 5.3% in the 1st quarter. Forum Financial Management LP now owns 2,872 shares of the company's stock worth $240,000 after acquiring an additional 144 shares during the last quarter. GAMMA Investing LLC boosted 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. Xponance Inc. boosted its holdings in SharkNinja by 5.4% during the 1st quarter. Xponance Inc. now owns 4,273 shares of the company's stock valued at $356,000 after acquiring an additional 220 shares during the period. Azzad Asset Management Inc. ADV boosted its holdings in SharkNinja by 0.8% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 37,852 shares of the company's stock valued at $3,685,000 after acquiring an additional 296 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in SharkNinja by 2.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 18,948 shares of the company's stock valued at $1,580,000 after acquiring an additional 396 shares during the period. 34.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on SN. Wall Street Zen lowered SharkNinja from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Guggenheim reaffirmed a "buy" rating on shares of SharkNinja in a research report on Friday, August 8th. JPMorgan Chase & Co. increased their price target on SharkNinja from $108.00 to $144.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Zacks Research raised SharkNinja from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Finally, 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 report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $131.86.

SharkNinja Price Performance

Shares of NYSE SN opened at $114.80 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.20 and a current ratio of 1.94. SharkNinja, Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $128.51. The firm has a market capitalization of $16.20 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 2.23 and a beta of 1.68. The stock's 50-day simple moving average is $115.10 and its 200-day simple moving average is $97.37.

SharkNinja (NYSE:SN - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $1.38 billion. SharkNinja had a return on equity of 28.78% and a net margin of 8.82%.The business's quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS. SharkNinja has set its FY 2025 guidance at 5.000-5.100 EPS. As a group, equities research analysts forecast that SharkNinja, Inc. will post 4.52 EPS for the current fiscal year.

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.

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