SharkNinja, Inc. (NYSE:SN) Shares Sold by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP sold 8,921 shares of SharkNinja, reducing its holdings by 0.7%, but still owns approximately 1.23 million shares valued at $102.58 million.
• SharkNinja reported earnings of $0.87 per share for the last quarter, surpassing analysts' estimates of $0.73, with a 14.7% revenue increase year-over-year.
• Several analysts have raised their price targets for SharkNinja, with the average target price now at $129.13 and a consensus rating of "Moderate Buy."

Westfield Capital Management Co. LP lessened its stake in SharkNinja, Inc. (NYSE:SN - Free Report) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,229,784 shares of the company's stock after selling 8,921 shares during the period. Westfield Capital Management Co. LP owned 0.88% of SharkNinja worth $102,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in SharkNinja by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 159,888 shares of the company's stock worth $15,567,000 after acquiring an additional 9,484 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of SharkNinja by 47.1% in the fourth quarter. Wellington Management Group LLP now owns 549,768 shares of the company's stock worth $53,525,000 after buying an additional 175,978 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of SharkNinja by 10.2% during the fourth quarter. Geode Capital Management LLC now owns 404,874 shares of the company's stock valued at $39,419,000 after buying an additional 37,466 shares during the last quarter. ExodusPoint Capital Management LP increased its position in shares of SharkNinja by 158.5% in the 4th quarter. ExodusPoint Capital Management LP now owns 65,437 shares of the company's stock valued at $6,371,000 after acquiring an additional 40,118 shares during the period. Finally, Wells Fargo & Company MN raised its stake in SharkNinja by 14.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,944 shares of the company's stock worth $968,000 after acquiring an additional 1,280 shares during the last quarter. 34.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SN. Oppenheimer raised their price objective on SharkNinja from $120.00 to $135.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Canaccord Genuity Group raised their price target 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. Guggenheim dropped their price objective on shares of SharkNinja from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Jefferies Financial Group set a $175.00 price objective on shares of SharkNinja in a research note on Monday, June 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of SharkNinja from $108.00 to $144.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, SharkNinja presently has an average rating of "Moderate Buy" and an average price target of $129.13.

SharkNinja Price Performance

SharkNinja stock traded down $1.55 during midday trading on Wednesday, reaching $113.90. The company had a trading volume of 1,791,857 shares, compared to its average volume of 1,297,569. SharkNinja, Inc. has a 12-month low of $60.50 and a 12-month high of $123.00. The firm's fifty day simple moving average is $102.18 and its 200-day simple moving average is $96.37. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.97 and a quick ratio of 1.17. The company has a market capitalization of $16.06 billion, a P/E ratio of 36.04, a P/E/G ratio of 2.23 and a beta of 1.69.

SharkNinja (NYSE:SN - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.14. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.17 billion. SharkNinja had a net margin of 7.86% and a return on equity of 28.89%. The firm's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.06 EPS. As a group, equities analysts anticipate that SharkNinja, Inc. will post 4.52 EPS for the current 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.