Millennium Management LLC Cuts Position in SharkNinja, Inc. (NYSE:SN)

Millennium Management LLC decreased its position in SharkNinja, Inc. (NYSE:SN) by 24.4% during the fourth quarter, Holdings Channel reports. The firm owned 413,636 shares of the company’s stock after selling 133,313 shares during the quarter. Millennium Management LLC’s holdings in SharkNinja were worth $40,272,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cannell & Spears LLC purchased a new stake in SharkNinja in the fourth quarter valued at approximately $18,125,000. Janney Montgomery Scott LLC raised its position in SharkNinja by 112.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 10,953 shares of the company’s stock valued at $1,066,000 after purchasing an additional 5,790 shares during the period. FMR LLC raised its position in SharkNinja by 59.8% in the fourth quarter. FMR LLC now owns 16,467,858 shares of the company’s stock valued at $1,603,311,000 after purchasing an additional 6,160,226 shares during the period. Raymond James Financial Inc. purchased a new stake in SharkNinja in the fourth quarter valued at approximately $37,187,000. Finally, Mawer Investment Management Ltd. raised its position in SharkNinja by 3.7% in the fourth quarter. Mawer Investment Management Ltd. now owns 294,798 shares of the company’s stock valued at $28,702,000 after purchasing an additional 10,413 shares during the period. Hedge funds and other institutional investors own 34.77% of the company’s stock.

SharkNinja Stock Performance

Shares of SN stock opened at $102.00 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average price of $82.95 and a 200 day moving average price of $95.64. The company has a market cap of $14.39 billion, a P/E ratio of 32.80, a PEG ratio of 2.35 and a beta of 1.68. SharkNinja, Inc. has a 12 month low of $60.50 and a 12 month high of $123.00.

SharkNinja (NYSE:SN) last issued its earnings results on Thursday, May 8th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. SharkNinja had a net margin of 7.94% and a return on equity of 32.51%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 earnings per share. Sell-side analysts predict that SharkNinja, Inc. will post 4.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SN has been the topic of a number of recent research reports. Oppenheimer upped their price objective on SharkNinja from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, May 9th. Morgan Stanley upped their price objective on SharkNinja from $85.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Guggenheim cut their price objective on SharkNinja from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. The Goldman Sachs Group upped their price objective on SharkNinja from $100.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. cut their price objective on SharkNinja from $139.00 to $98.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.50.

SharkNinja 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.