Pinpoint Asset Management Ltd Raises Position in SharkNinja, Inc. (NYSE:SN)

Pinpoint Asset Management Ltd increased its holdings in SharkNinja, Inc. (NYSE:SN) by 14,967.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,451 shares of the company’s stock after purchasing an additional 11,375 shares during the period. Pinpoint Asset Management Ltd’s holdings in SharkNinja were worth $1,245,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. abrdn plc boosted its stake in SharkNinja by 17.8% in the 3rd quarter. abrdn plc now owns 419,660 shares of the company’s stock worth $45,621,000 after buying an additional 63,299 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of SharkNinja in the third quarter worth approximately $11,942,000. Advisors Asset Management Inc. boosted its position in shares of SharkNinja by 50.6% in the third quarter. Advisors Asset Management Inc. now owns 19,817 shares of the company’s stock worth $2,154,000 after acquiring an additional 6,662 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in SharkNinja by 1,218.0% in the third quarter. Harbor Capital Advisors Inc. now owns 89,967 shares of the company’s stock valued at $9,780,000 after purchasing an additional 83,141 shares during the period. Finally, Baillie Gifford & Co. increased its position in SharkNinja by 6,408.9% during the third quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock worth $198,464,000 after purchasing an additional 1,797,578 shares during the last quarter. 34.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on SN. Bank of America lifted their price target on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Guggenheim lifted their target price on SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 7th. The Goldman Sachs Group upped their price target on SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Canaccord Genuity Group lifted their price objective on SharkNinja from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Morgan Stanley increased their target price on shares of SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, SharkNinja has a consensus rating of “Moderate Buy” and a consensus target price of $116.39.

SharkNinja Price Performance

SN stock opened at $98.87 on Wednesday. The stock has a 50-day simple moving average of $103.50 and a 200-day simple moving average of $90.12. The firm has a market cap of $13.84 billion, a P/E ratio of 38.77, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.67. SharkNinja, Inc. has a 1 year low of $45.70 and a 1 year high of $112.93.

SharkNinja (NYSE:SN) last issued 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 net margin of 7.02% and a return on equity of 32.55%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the company earned $0.95 earnings per share. SharkNinja’s revenue for the quarter was up 33.3% on a year-over-year basis. On average, equities analysts predict that SharkNinja, Inc. will post 3.88 earnings per share for the current fiscal year.

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.