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

Principal Financial Group Inc. decreased its position in SharkNinja, Inc. (NYSE:SN) by 9.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,622 shares of the company’s stock after selling 465 shares during the period. Principal Financial Group Inc.’s holdings in SharkNinja were worth $502,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SN. Donaldson Capital Management LLC bought a new stake in shares of SharkNinja in the third quarter worth about $3,158,000. KG&L Capital Management LLC bought a new stake in shares of SharkNinja in the 3rd quarter worth approximately $404,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of SharkNinja during the third quarter valued at approximately $11,942,000. Harbor Capital Advisors Inc. raised its holdings in shares of SharkNinja by 1,218.0% during the third quarter. Harbor Capital Advisors Inc. now owns 89,967 shares of the company’s stock valued at $9,780,000 after acquiring an additional 83,141 shares in the last quarter. Finally, Silvant Capital Management LLC purchased a new stake in SharkNinja in the third quarter worth $1,484,000. 34.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SN has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of SharkNinja from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Jefferies Financial Group increased their price target on shares of SharkNinja from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer began coverage on shares of SharkNinja in a report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price objective for the company. Bank of America upped their target price on SharkNinja from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Finally, Canaccord Genuity Group lifted their price target on SharkNinja from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.85.

SharkNinja Price Performance

SN opened at $98.34 on Monday. The firm has a market cap of $13.76 billion, a PE ratio of 38.56, a P/E/G ratio of 1.66 and a beta of 1.04. The stock has a 50-day moving average price of $104.30 and a 200-day moving average price of $88.77. SharkNinja, Inc. has a 1 year low of $45.35 and a 1 year high of $112.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.67 and a quick ratio of 0.95.

SharkNinja (NYSE:SN) last issued its earnings results on Thursday, October 31st. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.17. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.31 billion. SharkNinja had a net margin of 7.02% and a return on equity of 32.55%. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. Sell-side analysts predict that SharkNinja, Inc. will post 3.88 earnings per share for the current fiscal 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.