SharkNinja (NYSE:SN) Insider Sells $8,938,000.00 in Stock

SharkNinja, Inc. (NYSE:SN) insider Neil Shah sold 40,000 shares of SharkNinja stock in a transaction on Friday, November 6th. The shares were sold at an average price of $223.45, for a total transaction of $8,938,000.00. Following the transaction, the insider owned 457,220 shares in the company, valued at approximately $102,165,809. This trade represents a 8.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

SharkNinja Price Performance

SharkNinja stock traded up $6.74 during mid-day trading on Monday, hitting $229.69. The stock had a trading volume of 1,739,968 shares, compared to its average volume of 1,818,733. The firm has a market capitalization of $32.37 billion, a P/E ratio of 38.54, a P/E/G ratio of 2.44 and a beta of 1.20. 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 50 day moving average is $186.03 and its 200 day moving average is $145.02. SharkNinja, Inc. has a one year low of $83.21 and a one year high of $232.76.

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

Hedge Funds Weigh In On SharkNinja

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of SharkNinja during the second quarter worth approximately $81,134,000. Renaissance Technologies LLC purchased a new stake in shares of SharkNinja in the first quarter valued at approximately $28,709,000. Ranger Investment Management L.P. purchased a new stake in shares of SharkNinja in the second quarter valued at approximately $36,643,000. Wellington Management Group LLP boosted its holdings 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 valued at $51,692,000 after purchasing an additional 236,184 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in SharkNinja by 7,895.4% in the first quarter. The Manufacturers Life Insurance Company now owns 187,491 shares of the company’s stock worth $19,855,000 after purchasing an additional 185,146 shares in the last quarter. 34.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on SharkNinja from $223.00 to $243.00 and gave the stock an “overweight” rating in a report on Thursday. William Blair reaffirmed an “outperform” rating on shares of SharkNinja in a report on Wednesday. Jefferies Financial Group reiterated a “buy” rating and set a $300.00 price objective on shares of SharkNinja in a research report on Wednesday. BTIG Research boosted their target price on shares of SharkNinja from $245.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Piper Sandler boosted their target price on shares of SharkNinja from $200.00 to $234.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. Fourteen analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $211.39.

SharkNinja Company Profile

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.