Summit Partners Public Asset Management LLC Buys 30,813 Shares of SharkNinja, Inc. (NYSE:SN)

Summit Partners Public Asset Management LLC lifted its stake in shares of SharkNinja, Inc. (NYSE:SN) by 18.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 193,591 shares of the company’s stock after purchasing an additional 30,813 shares during the quarter. Summit Partners Public Asset Management LLC owned 0.14% of SharkNinja worth $21,045,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Signaturefd LLC lifted its stake in SharkNinja by 104.6% during the third quarter. Signaturefd LLC now owns 356 shares of the company’s stock worth $39,000 after purchasing an additional 182 shares during the last quarter. Hollencrest Capital Management acquired a new position in shares of SharkNinja during the 3rd quarter worth $54,000. Waldron Private Wealth LLC bought a new stake in shares of SharkNinja during the 3rd quarter worth $65,000. Picton Mahoney Asset Management acquired a new stake in SharkNinja in the second quarter valued at about $70,000. Finally, Kessler Investment Group LLC bought a new position in SharkNinja in the second quarter valued at about $125,000. Institutional investors own 34.77% of the company’s stock.

Analyst Ratings Changes

SN has been the subject of a number of research reports. Canaccord Genuity Group increased their target price on shares of SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America raised their target price on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. The Goldman Sachs Group upped their price target on shares of SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. dropped their price target on SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, Guggenheim upped their target price on SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 7th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.39.

SharkNinja Stock Performance

NYSE SN opened at $98.07 on Friday. The company has a market capitalization of $13.72 billion, a price-to-earnings ratio of 38.46, a PEG ratio of 1.62 and a beta of 1.04. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 0.42. SharkNinja, Inc. has a twelve month low of $45.35 and a twelve month high of $112.93. The stock has a fifty day simple moving average of $103.89 and a 200 day simple moving average of $89.31.

SharkNinja (NYSE:SN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.17. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.31 billion. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The business’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 earnings per share. Sell-side analysts expect that SharkNinja, Inc. will post 3.88 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.