Newbrook Capital Advisors LP Sells 122,011 Shares of SharkNinja, Inc. (NYSE:SN)

Newbrook Capital Advisors LP lowered its position in SharkNinja, Inc. (NYSE:SN) by 31.3% during the fourth quarter, Holdings Channel reports. The firm owned 268,239 shares of the company’s stock after selling 122,011 shares during the period. SharkNinja comprises 3.3% of Newbrook Capital Advisors LP’s portfolio, making the stock its 15th largest holding. Newbrook Capital Advisors LP’s holdings in SharkNinja were worth $26,116,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. FMR LLC increased its stake in SharkNinja by 59.8% during the 4th quarter. FMR LLC now owns 16,467,858 shares of the company’s stock valued at $1,603,311,000 after purchasing an additional 6,160,226 shares in the last quarter. HighTower Advisors LLC raised its position in SharkNinja by 42.9% in the 4th quarter. HighTower Advisors LLC now owns 7,179,756 shares of the company’s stock valued at $699,021,000 after buying an additional 2,155,136 shares during the last quarter. Norges Bank bought a new position in SharkNinja during the 4th quarter valued at $100,845,000. Palestra Capital Management LLC boosted its holdings in SharkNinja by 83.4% during the 4th quarter. Palestra Capital Management LLC now owns 1,780,785 shares of the company’s stock worth $173,377,000 after acquiring an additional 809,960 shares during the last quarter. Finally, Greenvale Capital LLP bought a new stake in shares of SharkNinja in the 4th quarter worth $73,020,000. Institutional investors own 34.77% of the company’s stock.

SharkNinja Stock Performance

NYSE:SN opened at $102.35 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.73 and a quick ratio of 1.14. SharkNinja, Inc. has a 1-year low of $60.50 and a 1-year high of $123.00. The business has a 50 day moving average of $82.21 and a 200 day moving average of $95.84. The company has a market capitalization of $14.36 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 2.35 and a beta of 1.68.

SharkNinja (NYSE:SN) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.14. SharkNinja had a return on equity of 32.51% and a net margin of 7.94%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts predict that SharkNinja, Inc. will post 4.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on SN. Guggenheim dropped their price target on SharkNinja from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Canaccord Genuity Group upped their price objective on shares of SharkNinja from $129.00 to $136.00 and gave the company a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. lowered their price target on shares of SharkNinja from $139.00 to $98.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Oppenheimer lifted their price objective on shares of SharkNinja from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. Finally, Morgan Stanley boosted their price objective on SharkNinja from $85.00 to $101.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $121.50.

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.