GAM Holding AG Lowers Position in SharkNinja, Inc. (NYSE:SN)

GAM Holding AG decreased its stake in SharkNinja, Inc. (NYSE:SN) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,076 shares of the company’s stock after selling 8,764 shares during the quarter. GAM Holding AG owned approximately 0.07% of SharkNinja worth $10,879,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SN. William Blair Investment Management LLC purchased a new position in shares of SharkNinja during the 2nd quarter valued at $190,482,000. Jericho Capital Asset Management L.P. purchased a new position in shares of SharkNinja in the first quarter valued at about $62,309,000. Hood River Capital Management LLC bought a new position in shares of SharkNinja in the first quarter worth about $38,290,000. Thrivent Financial for Lutherans grew its position in shares of SharkNinja by 29.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock worth $127,450,000 after purchasing an additional 380,926 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in SharkNinja by 1,394.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 254,764 shares of the company’s stock valued at $19,146,000 after purchasing an additional 237,718 shares during the period. Institutional investors own 34.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SN. Bank of America increased their price objective on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Guggenheim raised their target price on shares of SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. boosted their price target on shares of SharkNinja from $97.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Oppenheimer started coverage on SharkNinja in a research report on Tuesday, October 1st. They set an “outperform” rating and a $120.00 price objective for the company. Finally, The Goldman Sachs Group boosted their target price on SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, SharkNinja has an average rating of “Moderate Buy” and an average target price of $100.28.

SharkNinja Price Performance

Shares of SharkNinja stock opened at $109.50 on Wednesday. The stock has a market cap of $15.32 billion, a price-to-earnings ratio of 62.93, a price-to-earnings-growth ratio of 1.90 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.71. The stock has a 50 day moving average price of $101.05 and a 200-day moving average price of $82.75. SharkNinja, Inc. has a one year low of $38.69 and a one year high of $110.96.

SharkNinja (NYSE:SN) last announced its earnings results on Thursday, August 8th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.14. SharkNinja had a return on equity of 32.29% and a net margin of 5.16%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business earned $0.46 earnings per share. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year. Equities analysts expect that SharkNinja, Inc. will post 3.89 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.