Voya Investment Management LLC Raises Stake in SharkNinja, Inc. $SN

Key Points

• Voya Investment Management LLC significantly increased its stake in SharkNinja by 1,744.6% in the first quarter, acquiring a total of 242,893 shares valued at about $20.26 million.
• Despite a recent 1.3% decrease in stock price, SharkNinja's quarterly earnings surpassed analysts' expectations, reporting $1.44 billion in revenue and an EPS of $0.97.
• Analysts have mixed ratings on SharkNinja stocks, with a consensus rating of "Buy" and a target price averaging $131.86, reflecting varying confidence in the company's growth prospects.

Voya Investment Management LLC grew its position in SharkNinja, Inc. (NYSE:SN - Free Report) by 1,744.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 242,893 shares of the company's stock after purchasing an additional 229,725 shares during the quarter. Voya Investment Management LLC owned approximately 0.17% of SharkNinja worth $20,260,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SN. GAMMA Investing LLC grew its position in shares of SharkNinja by 77.9% in the 1st quarter. GAMMA Investing LLC now owns 354 shares of the company's stock valued at $30,000 after buying an additional 155 shares during the last quarter. Harbour Investments Inc. grew its position in shares of SharkNinja by 5,800.0% in the 1st quarter. Harbour Investments Inc. now owns 413 shares of the company's stock valued at $34,000 after buying an additional 406 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of SharkNinja in the 1st quarter valued at $36,000. Continuum Advisory LLC grew its position in shares of SharkNinja by 6,875.0% in the 4th quarter. Continuum Advisory LLC now owns 558 shares of the company's stock valued at $54,000 after buying an additional 550 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of SharkNinja by 96.0% in the 1st quarter. Covestor Ltd now owns 1,258 shares of the company's stock valued at $105,000 after buying an additional 616 shares during the last quarter. 34.77% of the stock is owned by hedge funds and other institutional investors.

SharkNinja Price Performance

Shares of NYSE SN traded down $1.98 during midday trading on Friday, hitting $114.97. The company had a trading volume of 1,404,366 shares, compared to its average volume of 1,171,909. 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 twelve month low of $60.50 and a twelve month high of $128.51. The business has a 50-day simple moving average of $116.51 and a two-hundred day simple moving average of $98.23. The firm has a market capitalization of $16.23 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 2.22 and a beta of 1.68.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of SharkNinja from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Canaccord Genuity Group raised their price objective on shares of SharkNinja from $127.00 to $136.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. raised their price objective on shares of SharkNinja from $108.00 to $144.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Jefferies Financial Group set a $175.00 price objective on shares of SharkNinja in a research report on Monday, June 30th. Finally, Oppenheimer raised their target price on shares of SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. One equities 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 company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target 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.