SharkNinja, Inc. $SN Stock: Retirement Systems of Alabama Increases Position

Retirement Systems of Alabama lifted its holdings in SharkNinja, Inc. (NYSE:SN) by 54.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,798 shares of the company’s stock after acquiring an additional 39,612 shares during the period. Retirement Systems of Alabama’s holdings in SharkNinja were worth $20,317,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in SharkNinja during the 2nd quarter valued at approximately $81,134,000. Renaissance Technologies LLC purchased a new position in SharkNinja in the 1st quarter worth approximately $28,709,000. Ranger Investment Management L.P. bought a new position in SharkNinja in the 2nd quarter worth approximately $36,643,000. Wellington Management Group LLP boosted its stake in SharkNinja by 228.7% in the 2nd quarter. Wellington Management Group LLP now owns 339,476 shares of the company’s stock worth $51,692,000 after purchasing an additional 236,184 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in SharkNinja by 7,895.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 187,491 shares of the company’s stock worth $19,855,000 after purchasing an additional 185,146 shares during the period. Institutional investors own 34.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SN. Guggenheim increased their price objective on shares of SharkNinja from $210.00 to $250.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of SharkNinja from $223.00 to $243.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Weiss Ratings upgraded shares of SharkNinja from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. William Blair restated an “outperform” rating on shares of SharkNinja in a research report on Wednesday, November 4th. Finally, Canaccord Genuity Group raised their target price on shares of SharkNinja from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $211.39.

Insiders Place Their Bets

In other SharkNinja news, insider Neil Shah sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $186.36, for a total transaction of $9,318,000.00. Following the completion of the transaction, the insider owned 497,220 shares in the company, valued at $92,661,919.20. This trade represents a 9.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 40.80% of the stock is owned by corporate insiders.

SharkNinja Trading Up 0.3%

Shares of SN stock opened at $227.07 on Thursday. SharkNinja, Inc. has a 12-month low of $83.21 and a 12-month high of $232.76. The company has a current ratio of 2.04, a quick ratio of 1.39 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average price is $188.53 and its 200-day moving average price is $146.58. The stock has a market capitalization of $32.00 billion, a price-to-earnings ratio of 38.99, a price-to-earnings-growth ratio of 2.48 and a beta of 1.21.

SharkNinja (NYSE:SN) last posted its earnings results on Wednesday, November 4th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.44. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.87 billion. SharkNinja had a return on equity of 28.84% and a net margin of 11.64%. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.50 earnings per share. Equities research analysts predict that SharkNinja, Inc. will post 5.93 EPS for the current fiscal year.

About SharkNinja

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.