Formidable Asset Management LLC Makes New Investment in SharkNinja, Inc. $SN

Formidable Asset Management LLC acquired a new stake in SharkNinja, Inc. (NYSE:SN) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,386 shares of the company’s stock, valued at approximately $610,000.

Several other institutional investors and hedge funds have also modified their holdings of SN. Bank of New York Mellon Corp acquired a new position in SharkNinja during the second quarter worth $81,134,000. WCM Investment Management LLC raised its holdings in SharkNinja by 4.3% during the first quarter. WCM Investment Management LLC now owns 793,063 shares of the company’s stock valued at $77,419,000 after buying an additional 32,524 shares in the last quarter. Evercore Wealth Management LLC raised its holdings in SharkNinja by 24.7% during the first quarter. Evercore Wealth Management LLC now owns 670,411 shares of the company’s stock valued at $70,997,000 after buying an additional 132,749 shares in the last quarter. Bank of America Corp DE lifted its position in shares of SharkNinja by 17.9% in the first quarter. Bank of America Corp DE now owns 559,813 shares of the company’s stock worth $59,284,000 after buying an additional 84,796 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of SharkNinja by 228.7% in the second quarter. Wellington Management Group LLP now owns 339,476 shares of the company’s stock worth $51,692,000 after buying an additional 236,184 shares during the last quarter. Institutional investors and hedge funds own 34.77% of the company’s stock.

Analysts Set New Price Targets

SN has been the subject of several recent analyst reports. TD Cowen upped their price target on SharkNinja from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, October 27th. BTIG Research raised their price objective on SharkNinja from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group restated a “buy” rating and issued a $204.00 target price on shares of SharkNinja in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on SharkNinja from $223.00 to $243.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Weiss Ratings raised SharkNinja from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 17th. Fourteen investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, SharkNinja presently has an average rating of “Buy” and a consensus price target of $208.32.

SharkNinja Stock Performance

NYSE:SN opened at $223.53 on Monday. The firm has a market capitalization of $31.50 billion, a PE ratio of 37.50, a PEG ratio of 2.44 and a beta of 1.20. SharkNinja, Inc. has a 1 year low of $83.21 and a 1 year high of $225.68. The company has a current ratio of 2.04, a quick ratio of 1.39 and a debt-to-equity ratio of 0.21. The firm’s fifty day simple moving average is $186.03 and its 200 day simple moving average is $145.02.

SharkNinja (NYSE:SN) last released its earnings results on Wednesday, November 4th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.44. SharkNinja had a net margin of 11.64% and a return on equity of 28.84%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the business earned $1.50 EPS. The business’s revenue was up 21.2% on a year-over-year basis. On average, sell-side analysts anticipate that SharkNinja, Inc. will post 5.93 EPS for the current year.

Insider Activity at SharkNinja

In other news, insider Neil Shah sold 50,000 shares of SharkNinja stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $186.36, for a total value of $9,318,000.00. Following the transaction, the insider directly owned 497,220 shares in the company, valued at approximately $92,661,919.20. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 40.80% of the company’s stock.

About SharkNinja

SharkNinja is a global product design and technology company that develops and markets household appliances under its Shark and Ninja brands. Its products are designed for everyday home use and are sold through retail and online channels.

The Shark brand is known for floor-care and cleaning products, including vacuums and floor cleaners, as well as home-environment and beauty products. Ninja focuses on kitchen appliances and food-preparation products, such as air fryers, blenders, multicookers, and coffee makers.