Renaissance Technologies LLC Acquires 51,800 Shares of SharkNinja, Inc. (NYSE:SN)

Renaissance Technologies LLC lifted its holdings in SharkNinja, Inc. (NYSE:SN) by 16.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 368,800 shares of the company’s stock after purchasing an additional 51,800 shares during the period. Renaissance Technologies LLC owned 0.26% of SharkNinja worth $27,715,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in SN. William Blair Investment Management LLC acquired a new stake in SharkNinja during the second quarter worth about $190,482,000. Parsifal Capital Management LP grew its position in SharkNinja by 57.9% during the fourth quarter. Parsifal Capital Management LP now owns 3,171,861 shares of the company’s stock worth $162,304,000 after buying an additional 1,163,185 shares in the last quarter. Wolf Hill Capital Management LP grew its position in SharkNinja by 349.8% during the fourth quarter. Wolf Hill Capital Management LP now owns 1,349,369 shares of the company’s stock worth $69,047,000 after buying an additional 1,049,369 shares in the last quarter. Jericho Capital Asset Management L.P. acquired a new stake in SharkNinja during the first quarter worth about $62,309,000. Finally, Wellington Management Group LLP acquired a new stake in SharkNinja during the fourth quarter worth about $47,811,000. 34.77% of the stock is owned by institutional investors and hedge funds.

SharkNinja Stock Performance

NYSE:SN opened at $106.83 on Friday. SharkNinja, Inc. has a 1 year low of $38.69 and a 1 year high of $108.68. The firm has a 50 day moving average of $86.54 and a 200-day moving average of $74.72. The company has a current ratio of 1.71, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $14.95 billion, a P/E ratio of 79.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.76.

SharkNinja (NYSE:SN) last posted its earnings results on Thursday, August 8th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.14. SharkNinja had a net margin of 5.16% and a return on equity of 32.29%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. SharkNinja’s quarterly revenue was up 31.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that SharkNinja, Inc. will post 3.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group lifted their target price on SharkNinja from $83.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Canaccord Genuity Group lifted their price objective on SharkNinja from $82.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. China Renaissance initiated coverage on SharkNinja in a report on Wednesday, May 29th. They set a “buy” rating on the stock. JPMorgan Chase & Co. lifted their price objective on SharkNinja from $80.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Bank of America lifted their price objective on SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, SharkNinja has a consensus rating of “Moderate Buy” and a consensus price target of $83.81.

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.