Maverick Capital Ltd. Invests $2.22 Million in SharkNinja, Inc. (NYSE:SN)

Maverick Capital Ltd. acquired a new stake in shares of SharkNinja, Inc. (NYSE:SN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 20,388 shares of the company’s stock, valued at approximately $2,216,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC grew its position in SharkNinja by 47.5% during the third quarter. FMR LLC now owns 10,307,632 shares of the company’s stock valued at $1,120,543,000 after purchasing an additional 3,321,684 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in SharkNinja in the second quarter valued at approximately $190,482,000. Baillie Gifford & Co. lifted its stake in SharkNinja by 6,408.9% in the third quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock valued at $198,464,000 after acquiring an additional 1,797,578 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in SharkNinja by 29.0% in the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock valued at $127,450,000 after acquiring an additional 380,926 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in SharkNinja in the third quarter valued at approximately $114,878,000. 34.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SN shares. Jefferies Financial Group boosted their price objective on shares of SharkNinja from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group increased their price target on shares of SharkNinja from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Oppenheimer began coverage on shares of SharkNinja in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price target on the stock. The Goldman Sachs Group increased their price target on shares of SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Morgan Stanley increased their target price on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SharkNinja has a consensus rating of “Moderate Buy” and a consensus price target of $116.39.

SharkNinja Price Performance

Shares of SN opened at $100.49 on Friday. SharkNinja, Inc. has a 52-week low of $45.35 and a 52-week high of $112.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.67. The business’s 50 day moving average price is $103.78 and its two-hundred day moving average price is $89.52. The firm has a market cap of $14.06 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 1.62 and a beta of 1.04.

SharkNinja (NYSE:SN) last issued its earnings results on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.17. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. SharkNinja’s revenue for the quarter was up 33.3% on a year-over-year basis. On average, equities analysts anticipate that SharkNinja, Inc. will post 3.88 EPS for the current 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.