Principal Financial Group Inc. Decreases Stock Position in SharkNinja, Inc. (NYSE:SN)

Principal Financial Group Inc. cut its holdings in SharkNinja, Inc. (NYSE:SN) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,853 shares of the company’s stock after selling 769 shares during the period. Principal Financial Group Inc.’s holdings in SharkNinja were worth $375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC lifted its holdings in SharkNinja by 47.5% in the 3rd quarter. FMR LLC now owns 10,307,632 shares of the company’s stock valued at $1,120,543,000 after purchasing an additional 3,321,684 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in 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. Westfield Capital Management Co. LP purchased a new position in SharkNinja in the 3rd quarter valued at about $114,878,000. State Street Corp lifted its holdings in SharkNinja by 17.8% in the 3rd quarter. State Street Corp now owns 667,003 shares of the company’s stock valued at $72,510,000 after purchasing an additional 101,020 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its holdings in SharkNinja by 74.2% in the 4th quarter. Artemis Investment Management LLP now owns 390,757 shares of the company’s stock valued at $38,044,000 after purchasing an additional 166,392 shares in the last quarter. 34.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SN. JPMorgan Chase & Co. upped their target price on shares of SharkNinja from $120.00 to $127.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Jefferies Financial Group upped their target price on shares of SharkNinja from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Canaccord Genuity Group increased their price objective on shares of SharkNinja from $129.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Morgan Stanley increased their price objective on shares of SharkNinja from $93.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.50.

SharkNinja Stock Down 0.4 %

SN opened at $90.57 on Friday. The firm has a 50 day moving average price of $106.12 and a 200 day moving average price of $102.77. The company has a market cap of $12.67 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.13. SharkNinja, Inc. has a 1 year low of $54.54 and a 1 year high of $123.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.14 and a current ratio of 1.73.

SharkNinja (NYSE:SN) last posted its earnings results on Thursday, February 13th. The company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.06). The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.61 billion. SharkNinja had a return on equity of 32.51% and a net margin of 7.94%. Sell-side analysts expect that SharkNinja, Inc. will post 4.52 earnings per share for the current year.

About SharkNinja

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.