Palestra Capital Management LLC Increases Stock Position in SharkNinja, Inc. (NYSE:SN)

Palestra Capital Management LLC increased its position in shares of SharkNinja, Inc. (NYSE:SN - Free Report) by 83.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,780,785 shares of the company's stock after acquiring an additional 809,960 shares during the quarter. SharkNinja makes up about 4.8% of Palestra Capital Management LLC's portfolio, making the stock its 4th biggest holding. Palestra Capital Management LLC owned approximately 1.27% of SharkNinja worth $173,377,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its position in shares of SharkNinja by 59.8% during the 4th quarter. FMR LLC now owns 16,467,858 shares of the company's stock worth $1,603,311,000 after purchasing an additional 6,160,226 shares during the last quarter. HighTower Advisors LLC raised its holdings in SharkNinja by 42.9% during the fourth quarter. HighTower Advisors LLC now owns 7,179,756 shares of the company's stock worth $699,021,000 after purchasing an additional 2,155,136 shares in the last quarter. Norges Bank purchased a new stake in shares of SharkNinja in the fourth quarter valued at approximately $100,845,000. Baillie Gifford & Co. increased its holdings in shares of SharkNinja by 33.1% in the 4th quarter. Baillie Gifford & Co. now owns 2,430,185 shares of the company's stock valued at $236,603,000 after purchasing an additional 604,559 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in SharkNinja by 26.4% during the fourth quarter. William Blair Investment Management LLC now owns 2,827,340 shares of the company's stock worth $275,270,000 after buying an additional 590,632 shares in the last quarter. Hedge funds and other institutional investors own 34.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SN. Oppenheimer dropped their target price on shares of SharkNinja from $130.00 to $105.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Jefferies Financial Group upped their target price on SharkNinja from $150.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price target on SharkNinja from $139.00 to $98.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group lowered their price objective on shares of SharkNinja from $133.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Morgan Stanley boosted their target price on shares of SharkNinja from $93.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $115.06.

SharkNinja Stock Down 3.5 %

Shares of NYSE:SN traded down $2.88 on Tuesday, reaching $79.65. The company had a trading volume of 887,524 shares, compared to its average volume of 1,418,416. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $11.18 billion, a P/E ratio of 25.61, a P/E/G ratio of 2.35 and a beta of 1.68. The stock has a 50-day moving average price of $83.05 and a 200 day moving average price of $96.51. SharkNinja, Inc. has a twelve month low of $60.50 and a twelve month high of $123.00.

SharkNinja (NYSE:SN - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.06). SharkNinja had a return on equity of 32.51% and a net margin of 7.94%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.61 billion. On average, equities analysts expect that SharkNinja, Inc. will post 4.52 EPS for the current year.

SharkNinja Company 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.