Insider Selling: SharkNinja (NYSE:SN) Insider Sells $8,938,000.00 in Stock

SharkNinja, Inc. (NYSE:SN) insider Neil Shah sold 40,000 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $223.45, for a total transaction of $8,938,000.00. Following the sale, the insider owned 457,220 shares in the company, valued at approximately $102,165,809. This trade represents a 8.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

SharkNinja Price Performance

Shares of NYSE SN opened at $227.07 on Thursday. SharkNinja, Inc. has a fifty-two week low of $83.21 and a fifty-two week high of $232.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.39 and a current ratio of 2.04. The company has a market capitalization of $32.00 billion, a price-to-earnings ratio of 38.99, a P/E/G ratio of 2.48 and a beta of 1.21. The company has a 50 day simple moving average of $188.53 and a two-hundred day simple moving average of $146.58.

SharkNinja (NYSE:SN) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.44. SharkNinja had a return on equity of 28.84% and a net margin of 11.64%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the business earned $1.50 earnings per share. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. Analysts expect that SharkNinja, Inc. will post 5.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SN shares. UBS Group reaffirmed a “buy” rating and issued a $219.10 target price on shares of SharkNinja in a research report on Wednesday, August 12th. TD Cowen boosted their price objective on SharkNinja from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, October 27th. BTIG Research raised their price target on SharkNinja from $245.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 5th. The Goldman Sachs Group restated a “buy” rating and issued a $204.00 price target on shares of SharkNinja in a research note on Thursday, August 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $300.00 price objective on shares of SharkNinja in a report on Wednesday, November 4th. Fourteen investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $211.39.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clearstead Trust LLC bought a new stake in SharkNinja during the 2nd quarter valued at $30,000. IFP Advisors Inc grew its position in shares of SharkNinja by 108.2% during the 3rd quarter. IFP Advisors Inc now owns 177 shares of the company’s stock worth $32,000 after buying an additional 92 shares in the last quarter. Richardson Financial Services Inc. grew its position in shares of SharkNinja by 36.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 199 shares of the company’s stock worth $36,000 after buying an additional 53 shares in the last quarter. Latitude Advisors LLC purchased a new position in shares of SharkNinja during the third quarter valued at $37,000. Finally, Timbuktu Capital Management LLC purchased a new position in shares of SharkNinja during the second quarter valued at $40,000. 34.77% of the stock is owned by hedge funds and other institutional investors.

SharkNinja Company Profile

SharkNinja is a global product design and technology company that develops and markets household appliances under its Shark and Ninja brands. Its products are designed for everyday home use and are sold through retail and online channels. The Shark brand is known for floor-care and cleaning products, including vacuums and floor cleaners, as well as home-environment and beauty products. Ninja focuses on kitchen appliances and food-preparation products, such as air fryers, blenders, multicookers, and coffee makers.