Investors Buy High Volume of Put Options on SharkNinja (NYSE:SN)

SharkNinja, Inc. (NYSE:SN) saw some unusual options trading activity on Monday. Investors acquired 21,703 put options on the stock. This represents an increase of 1,638% compared to the typical volume of 1,249 put options.

SharkNinja Trading Up 4.8 %

Shares of NYSE:SN opened at $92.20 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.38. SharkNinja has a 52-week low of $59.78 and a 52-week high of $123.00. The stock has a market cap of $12.90 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 2.35 and a beta of 1.24. The business has a 50-day moving average price of $103.53 and a 200-day moving average price of $102.62.

SharkNinja (NYSE:SN) last posted its quarterly 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 analysts’ expectations of $1.61 billion. SharkNinja had a return on equity of 32.51% and a net margin of 7.94%. Equities analysts predict that SharkNinja will post 4.52 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SN. FMR LLC raised its stake in shares of SharkNinja by 59.8% during the 4th quarter. FMR LLC now owns 16,467,858 shares of the company’s stock valued at $1,603,311,000 after buying an additional 6,160,226 shares during the last quarter. HighTower Advisors LLC grew its holdings in SharkNinja by 42.9% during the fourth quarter. HighTower Advisors LLC now owns 7,179,756 shares of the company’s stock worth $699,021,000 after acquiring an additional 2,155,136 shares during the period. William Blair Investment Management LLC grew its holdings in SharkNinja by 26.4% during the fourth quarter. William Blair Investment Management LLC now owns 2,827,340 shares of the company’s stock worth $275,270,000 after acquiring an additional 590,632 shares during the period. Baillie Gifford & Co. raised its position in SharkNinja by 33.1% during the fourth quarter. Baillie Gifford & Co. now owns 2,430,185 shares of the company’s stock valued at $236,603,000 after acquiring an additional 604,559 shares in the last quarter. Finally, Palestra Capital Management LLC lifted its holdings in SharkNinja by 83.4% in the fourth quarter. Palestra Capital Management LLC now owns 1,780,785 shares of the company’s stock valued at $173,377,000 after acquiring an additional 809,960 shares during the period. 34.77% of the stock is currently owned by institutional investors and hedge funds.

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.