Sandia Investment Management LP Makes New Investment in SharkNinja, Inc. (NYSE:SN)

Sandia Investment Management LP purchased a new stake in shares of SharkNinja, Inc. (NYSE:SN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,000 shares of the company’s stock, valued at approximately $487,000. SharkNinja makes up about 1.1% of Sandia Investment Management LP’s investment portfolio, making the stock its 23rd biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of SN. Quarry LP acquired a new position in SharkNinja in the 4th quarter valued at $47,000. R Squared Ltd acquired a new position in SharkNinja in the 4th quarter valued at $55,000. Covestor Ltd grew its stake in SharkNinja by 284.4% in the 4th quarter. Covestor Ltd now owns 642 shares of the company’s stock valued at $63,000 after buying an additional 475 shares during the last quarter. SG Americas Securities LLC acquired a new position in SharkNinja in the 4th quarter valued at $171,000. Finally, Altshuler Shaham Ltd acquired a new position in SharkNinja in the 4th quarter valued at $209,000. Institutional investors own 34.77% of the company’s stock.

SharkNinja Stock Performance

Shares of SN stock opened at $102.00 on Friday. The company’s fifty day simple moving average is $82.95 and its 200-day simple moving average is $95.74. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.38. The firm has a market cap of $14.32 billion, a PE ratio of 32.80, a P/E/G ratio of 2.35 and a beta of 1.68. SharkNinja, Inc. has a 12 month low of $60.50 and a 12 month high of $123.00.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SN shares. Morgan Stanley raised their price target on shares of SharkNinja from $85.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Guggenheim cut their price target on shares of SharkNinja from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, May 9th. Canaccord Genuity Group boosted their target price on shares of SharkNinja from $129.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Oppenheimer lifted their price target on shares of SharkNinja from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, May 9th. Finally, Jefferies Financial Group boosted their price objective on shares of SharkNinja from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.50.

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.