Rhumbline Advisers Acquires 57,588 Shares of SharkNinja, Inc. (NYSE:SN)

Rhumbline Advisers lifted its holdings in shares of SharkNinja, Inc. (NYSE:SN) by 1,810.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 60,769 shares of the company’s stock after buying an additional 57,588 shares during the period. Rhumbline Advisers’ holdings in SharkNinja were worth $4,567,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. CIBC Asset Management Inc acquired a new stake in shares of SharkNinja in the 2nd quarter valued at approximately $292,000. Picton Mahoney Asset Management acquired a new stake in SharkNinja in the second quarter valued at $70,000. Fortis Group Advisors LLC bought a new position in shares of SharkNinja in the 2nd quarter valued at about $647,000. Pinnacle Associates Ltd. increased its stake in shares of SharkNinja by 26.4% during the 2nd quarter. Pinnacle Associates Ltd. now owns 21,385 shares of the company’s stock worth $1,607,000 after purchasing an additional 4,470 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new stake in shares of SharkNinja in the 2nd quarter valued at about $387,000. Institutional investors own 34.77% of the company’s stock.

Analyst Ratings Changes

SN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on SharkNinja from $80.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. China Renaissance assumed coverage on SharkNinja in a report on Wednesday, May 29th. They set a “buy” rating on the stock. Bank of America increased their price target on SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group lifted their price objective on shares of SharkNinja from $83.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Canaccord Genuity Group increased their price objective on shares of SharkNinja from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.81.

SharkNinja Trading Up 1.4 %

Shares of SharkNinja stock opened at $103.24 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71. The firm has a 50-day moving average of $83.96 and a 200-day moving average of $73.59. SharkNinja, Inc. has a 52-week low of $38.69 and a 52-week high of $104.13. The stock has a market cap of $14.45 billion, a PE ratio of 76.47, a PEG ratio of 1.49 and a beta of 0.76.

SharkNinja (NYSE:SN) last announced its earnings results on Thursday, August 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.14. SharkNinja had a net margin of 5.16% and a return on equity of 32.29%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business posted $0.46 EPS. The business’s revenue was up 31.4% compared to the same quarter last year. As a group, sell-side analysts forecast that SharkNinja, Inc. will post 3.89 EPS for the current year.

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.