Scopia Capital Management LP Cuts Stock Holdings in SharkNinja, Inc. (NYSE:SN)

Scopia Capital Management LP lowered its position in SharkNinja, Inc. (NYSE:SN) by 55.7% in the third quarter, Holdings Channel.com reports. The firm owned 135,014 shares of the company’s stock after selling 170,014 shares during the quarter. SharkNinja makes up about 3.0% of Scopia Capital Management LP’s holdings, making the stock its 16th largest position. Scopia Capital Management LP’s holdings in SharkNinja were worth $14,677,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SN. FMR LLC boosted its stake in shares of SharkNinja by 47.5% during the 3rd quarter. FMR LLC now owns 10,307,632 shares of the company’s stock worth $1,120,543,000 after acquiring an additional 3,321,684 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of SharkNinja during the 2nd quarter worth $190,482,000. Baillie Gifford & Co. grew its stake in SharkNinja by 6,408.9% in the 3rd quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock valued at $198,464,000 after acquiring an additional 1,797,578 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in SharkNinja during the 3rd quarter valued at about $114,878,000. Finally, Thrivent Financial for Lutherans raised its position in SharkNinja by 29.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock worth $127,450,000 after acquiring an additional 380,926 shares during the last quarter. Hedge funds and other institutional investors own 34.77% of the company’s stock.

SharkNinja Stock Performance

Shares of SN stock opened at $100.49 on Friday. 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 firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 39.41, a price-to-earnings-growth ratio of 1.62 and a beta of 1.04. SharkNinja, Inc. has a one year low of $45.35 and a one year high of $112.93. The company has a 50 day moving average price of $103.78 and a 200 day moving average price of $89.52.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SN. Bank of America raised their price objective on shares of SharkNinja from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group upped their price objective on SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Morgan Stanley increased their price objective on SharkNinja from $80.00 to $93.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Oppenheimer began coverage on shares of SharkNinja in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price objective for the company. Finally, Guggenheim lifted their target price on shares of SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, SharkNinja has an average rating of “Moderate Buy” and a consensus target price of $116.39.

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.