SharkNinja, Inc. $SN Stock: New Mexico Educational Retirement Board Grows Stake

New Mexico Educational Retirement Board increased its holdings in shares of SharkNinja, Inc. (NYSE:SN) by 19.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,500 shares of the company’s stock after acquiring an additional 2,900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in SharkNinja were worth $3,152,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SN. WINTON GROUP Ltd acquired a new stake in SharkNinja during the second quarter worth about $2,463,000. Saudi Central Bank bought a new stake in shares of SharkNinja during the second quarter worth about $908,000. Raiffeisen Bank International AG lifted its holdings in SharkNinja by 170.8% during the 2nd quarter. Raiffeisen Bank International AG now owns 216,632 shares of the company’s stock worth $31,711,000 after buying an additional 136,632 shares during the period. Tidal Investments LLC increased its position in SharkNinja by 25.1% during the 2nd quarter. Tidal Investments LLC now owns 73,873 shares of the company’s stock valued at $11,249,000 after purchasing an additional 14,803 shares during the period. Finally, Arizona State Retirement System bought a new position in shares of SharkNinja in the 2nd quarter worth about $3,717,000. 34.77% of the stock is owned by institutional investors and hedge funds.

SharkNinja Stock Performance

NYSE SN opened at $227.07 on Thursday. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $188.53 and a two-hundred day simple moving average of $146.58. The firm has a market cap of $32.00 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 2.48 and a beta of 1.21. SharkNinja, Inc. has a 12-month low of $83.21 and a 12-month high of $232.76.

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

Insider Activity at SharkNinja

In related news, insider Neil Shah sold 40,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 457,220 shares of the company’s stock, valued at approximately $102,165,809. This represents a 8.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 40.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on SN. Piper Sandler lifted their price target on shares of SharkNinja from $200.00 to $234.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. William Blair restated an “outperform” rating on shares of SharkNinja in a research note on Wednesday, November 4th. Weiss Ratings raised shares of SharkNinja from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. Guggenheim increased their price target on SharkNinja from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Jefferies Financial Group reissued a “buy” rating and set a $300.00 target price on shares of SharkNinja in a report on Wednesday, November 4th. Fourteen equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, SharkNinja has an average rating of “Buy” and an average price target of $211.39.

SharkNinja Profile

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.