Jacobs Levy Equity Management Inc. Cuts Stake in SharkNinja, Inc. (NYSE:SN)

Jacobs Levy Equity Management Inc. reduced its stake in SharkNinja, Inc. (NYSE:SN) by 69.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 49,684 shares of the company’s stock after selling 114,290 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in SharkNinja were worth $4,837,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SN. FMR LLC boosted its holdings in shares of SharkNinja by 59.8% in the 4th quarter. FMR LLC now owns 16,467,858 shares of the company’s stock worth $1,603,311,000 after buying an additional 6,160,226 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of SharkNinja by 42.9% in the 4th quarter. HighTower Advisors LLC now owns 7,179,756 shares of the company’s stock worth $699,021,000 after buying an additional 2,155,136 shares during the last quarter. Norges Bank purchased a new position in shares of SharkNinja in the 4th quarter worth about $100,845,000. Palestra Capital Management LLC boosted its holdings in shares of SharkNinja by 83.4% in the 4th quarter. Palestra Capital Management LLC now owns 1,780,785 shares of the company’s stock worth $173,377,000 after buying an additional 809,960 shares during the last quarter. Finally, Greenvale Capital LLP purchased a new position in shares of SharkNinja in the 4th quarter worth about $73,020,000. 34.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of SharkNinja from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Canaccord Genuity Group upped their price objective on shares of SharkNinja from $129.00 to $136.00 and gave the company a “buy” rating in a report on Friday, February 14th. Jefferies Financial Group upped their price objective on shares of SharkNinja from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Morgan Stanley upped their price objective on shares of SharkNinja from $85.00 to $101.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Finally, Oppenheimer upped their price objective on shares of SharkNinja from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.50.

SharkNinja Trading Down 1.6%

Shares of SN opened at $100.69 on Thursday. The business’s 50-day moving average price is $82.41 and its 200-day moving average price is $95.87. SharkNinja, Inc. has a twelve month low of $60.50 and a twelve month high of $123.00. The stock has a market cap of $14.13 billion, a PE ratio of 32.38, a P/E/G ratio of 2.35 and a beta of 1.68. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.38.

SharkNinja (NYSE:SN) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.14. SharkNinja had a return on equity of 32.51% and a net margin of 7.94%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. On average, equities analysts forecast that SharkNinja, Inc. will post 4.52 EPS 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.