Peregrine Investment Management Inc. Invests $6.38 Million in SharkNinja, Inc. (NYSE:SN)

Peregrine Investment Management Inc. acquired a new stake in SharkNinja, Inc. (NYSE:SN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 65,480 shares of the company’s stock, valued at approximately $6,375,000. SharkNinja comprises approximately 3.7% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 15th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC boosted its stake in SharkNinja by 11.4% during the third quarter. Fortis Group Advisors LLC now owns 9,594 shares of the company’s stock worth $1,043,000 after buying an additional 980 shares during the last quarter. Signaturefd LLC boosted its position in shares of SharkNinja by 104.6% during the 3rd quarter. Signaturefd LLC now owns 356 shares of the company’s stock valued at $39,000 after acquiring an additional 182 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of SharkNinja in the third quarter valued at about $65,000. Nisa Investment Advisors LLC acquired a new stake in SharkNinja during the third quarter worth about $1,357,000. Finally, abrdn plc raised its stake in SharkNinja by 17.8% during the third quarter. abrdn plc now owns 419,660 shares of the company’s stock worth $45,621,000 after purchasing an additional 63,299 shares during the period. Hedge funds and other institutional investors own 34.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SN. Canaccord Genuity Group upped their price objective on SharkNinja from $129.00 to $136.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. increased their price target on SharkNinja from $120.00 to $127.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group raised their price objective on SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Morgan Stanley upped their target price on shares of SharkNinja from $93.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Jefferies Financial Group lifted their price target on shares of SharkNinja from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.50.

SharkNinja Stock Performance

NYSE:SN opened at $110.32 on Friday. SharkNinja, Inc. has a 1-year low of $49.86 and a 1-year high of $123.00. The firm has a market cap of $15.44 billion, a price-to-earnings ratio of 43.26, a price-to-earnings-growth ratio of 1.74 and a beta of 1.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.67 and a quick ratio of 0.95. The firm’s fifty day moving average price is $104.88 and its 200 day moving average price is $100.85.

SharkNinja (NYSE:SN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.06). SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.61 billion. On average, sell-side analysts expect that SharkNinja, Inc. will post 3.91 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.