Millennium Management LLC Decreases Position in SharkNinja, Inc. (NYSE:SN)

Millennium Management LLC lowered its stake in shares of SharkNinja, Inc. (NYSE:SN) by 56.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 619,537 shares of the company’s stock after selling 789,393 shares during the period. Millennium Management LLC owned 0.44% of SharkNinja worth $46,558,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Apis Capital Advisors LLC increased its stake in shares of SharkNinja by 9.3% during the 2nd quarter. Apis Capital Advisors LLC now owns 171,600 shares of the company’s stock worth $12,896,000 after purchasing an additional 14,600 shares during the last quarter. Xponance Inc. purchased a new position in SharkNinja in the 2nd quarter valued at approximately $280,000. Magnetar Financial LLC purchased a new position in SharkNinja in the 2nd quarter valued at approximately $233,000. Hood River Capital Management LLC grew its stake in SharkNinja by 16.0% in the 2nd quarter. Hood River Capital Management LLC now owns 713,146 shares of the company’s stock valued at $53,593,000 after buying an additional 98,440 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in SharkNinja by 29.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock valued at $127,450,000 after buying an additional 380,926 shares in the last quarter. Hedge funds and other institutional investors own 34.77% of the company’s stock.

Wall Street Analysts Forecast Growth

SN has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of SharkNinja from $97.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday. The Goldman Sachs Group lifted their price objective on shares of SharkNinja from $83.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Oppenheimer assumed coverage on shares of SharkNinja in a report on Tuesday. They issued an “outperform” rating and a $120.00 price target for the company. Canaccord Genuity Group raised their price target on shares of SharkNinja from $82.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Bank of America raised their price target on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, SharkNinja has an average rating of “Moderate Buy” and an average target price of $91.28.

SharkNinja Stock Performance

NYSE SN opened at $107.95 on Wednesday. SharkNinja, Inc. has a 52-week low of $38.69 and a 52-week high of $109.97. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71. The company has a market capitalization of $15.11 billion, a P/E ratio of 79.96, a P/E/G ratio of 1.55 and a beta of 0.76. The company has a fifty day moving average of $91.97 and a 200-day moving average of $77.78.

SharkNinja (NYSE:SN) last issued its earnings results on Thursday, August 8th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.14. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.08 billion. SharkNinja had a net margin of 5.16% and a return on equity of 32.29%. The firm’s revenue was up 31.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS. As a group, equities research analysts predict that SharkNinja, Inc. will post 3.89 EPS for the current fiscal year.

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.