Geode Capital Management LLC Decreases Stock Holdings in SharkNinja, Inc. (NYSE:SN)

Geode Capital Management LLC reduced its position in shares of SharkNinja, Inc. (NYSE:SN) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 367,408 shares of the company’s stock after selling 3,634 shares during the period. Geode Capital Management LLC owned 0.26% of SharkNinja worth $39,941,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SN. State Street Corp increased its position in SharkNinja by 17.8% during 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 during the period. abrdn plc boosted its stake in shares of SharkNinja by 17.8% during the 3rd quarter. abrdn plc now owns 419,660 shares of the company’s stock valued at $45,621,000 after purchasing an additional 63,299 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of SharkNinja during the third quarter valued at about $11,942,000. Advisors Asset Management Inc. lifted its holdings in SharkNinja by 50.6% in the third quarter. Advisors Asset Management Inc. now owns 19,817 shares of the company’s stock worth $2,154,000 after buying an additional 6,662 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in SharkNinja by 1,218.0% during the 3rd 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. 34.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SN has been the subject of several research reports. Guggenheim increased their target price on SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Jefferies Financial Group raised their price objective on SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley boosted their target price on shares of SharkNinja from $80.00 to $93.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. The Goldman Sachs Group increased their price target on shares of SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Oppenheimer initiated coverage on shares of SharkNinja in a research note on Tuesday, October 1st. They set an “outperform” rating and a $120.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.39.

SharkNinja Stock Up 2.0 %

Shares of SharkNinja stock opened at $97.90 on Wednesday. The company has a 50-day simple moving average of $101.15 and a two-hundred day simple moving average of $92.40. SharkNinja, Inc. has a 52-week low of $45.85 and a 52-week high of $112.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.67. The stock has a market capitalization of $13.70 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 1.65 and a beta of 1.01.

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

SharkNinja Company 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.