Scopia Capital Management LP Decreases Stock Holdings in SharkNinja, Inc. (NYSE:SN)

Scopia Capital Management LP cut its position in SharkNinja, Inc. (NYSE:SN) by 55.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 135,014 shares of the company’s stock after selling 170,014 shares during the quarter. SharkNinja makes up approximately 3.0% of Scopia Capital Management LP’s investment portfolio, making the stock its 16th largest holding. Scopia Capital Management LP owned about 0.10% of SharkNinja worth $14,677,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SN. Signaturefd LLC boosted its holdings in SharkNinja by 104.6% in the third quarter. Signaturefd LLC now owns 356 shares of the company’s stock worth $39,000 after acquiring an additional 182 shares in the last quarter. Hollencrest Capital Management purchased a new stake in SharkNinja during the 3rd quarter valued at about $54,000. Waldron Private Wealth LLC purchased a new stake in SharkNinja in the third quarter valued at approximately $65,000. Picton Mahoney Asset Management acquired a new stake in shares of SharkNinja in the second quarter worth $70,000. Finally, Kessler Investment Group LLC acquired a new stake in SharkNinja during the 2nd quarter worth about $125,000. 34.77% of the stock is owned by hedge funds and other institutional investors.

SharkNinja Trading Up 2.5 %

Shares of SN stock opened at $100.49 on Friday. The company has a 50-day moving average of $103.78 and a two-hundred day moving average of $89.52. The firm has a market cap of $14.06 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 1.62 and a beta of 1.04. SharkNinja, Inc. has a 1-year low of $45.35 and a 1-year high of $112.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.67 and a quick ratio of 0.95.

SharkNinja (NYSE:SN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.17. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business posted $0.95 EPS. The business’s quarterly revenue was up 33.3% compared to the same quarter last year. On average, analysts predict that SharkNinja, Inc. will post 3.88 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Oppenheimer assumed coverage on shares of SharkNinja in a report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price target for the company. Morgan Stanley increased their price objective on shares of SharkNinja from $80.00 to $93.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Guggenheim boosted their price objective on SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Finally, The Goldman Sachs Group boosted their price target on SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $116.39.

SharkNinja 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.