SharkNinja (NYSE:SN) Stock: Insider Neil Shah Sells 40,000 Shares

SharkNinja, Inc. (NYSE:SN) insider Neil Shah sold 40,000 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $223.45, for a total value of $8,938,000.00. Following the completion of the sale, the insider directly owned 457,220 shares of the company’s stock, valued at $102,165,809. The trade was a 8.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

SharkNinja Stock Down 1.3%

Shares of SN stock opened at $226.53 on Wednesday. The stock’s fifty day moving average price is $187.48 and its 200 day moving average price is $146.06. SharkNinja, Inc. has a 1-year low of $83.21 and a 1-year high of $232.76. The company has a market cap of $31.92 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 2.51 and a beta of 1.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.04 and a quick ratio of 1.39.

SharkNinja (NYSE:SN) last released its quarterly earnings results on Wednesday, November 4th. The company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.44. SharkNinja had a return on equity of 28.84% and a net margin of 11.64%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business posted $1.50 earnings per share. The firm’s revenue was up 21.2% compared to the same quarter last year. On average, research analysts expect that SharkNinja, Inc. will post 5.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SN. Clearstead Trust LLC acquired a new position in SharkNinja in the 2nd quarter worth approximately $30,000. IFP Advisors Inc raised its holdings in shares of SharkNinja by 108.2% during the third quarter. IFP Advisors Inc now owns 177 shares of the company’s stock worth $32,000 after purchasing an additional 92 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of SharkNinja by 36.3% during the third quarter. Richardson Financial Services Inc. now owns 199 shares of the company’s stock worth $36,000 after purchasing an additional 53 shares during the last quarter. Latitude Advisors LLC acquired a new position in SharkNinja during the third quarter valued at $37,000. Finally, Timbuktu Capital Management LLC acquired a new position in SharkNinja during the second quarter valued at $40,000. 34.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on SN shares. Weiss Ratings upgraded shares of SharkNinja from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. The Goldman Sachs Group restated a “buy” rating and set a $204.00 price target on shares of SharkNinja in a research note on Thursday, August 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of SharkNinja in a report on Wednesday, November 4th. JPMorgan Chase & Co. lifted their price objective on shares of SharkNinja from $223.00 to $243.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Finally, BTIG Research lifted their price objective on shares of SharkNinja from $245.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Fourteen research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $211.39.

About SharkNinja

SharkNinja is a global product design and technology company that develops and markets household appliances under its Shark and Ninja brands. Its products are designed for everyday home use and are sold through retail and online channels. The Shark brand is known for floor-care and cleaning products, including vacuums and floor cleaners, as well as home-environment and beauty products. Ninja focuses on kitchen appliances and food-preparation products, such as air fryers, blenders, multicookers, and coffee makers.