Fred Alger Management LLC Acquires New Stake in SharkNinja, Inc. (NYSE:SN)

Fred Alger Management LLC acquired a new stake in SharkNinja, Inc. (NYSE:SN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,455 shares of the company’s stock, valued at approximately $810,000.

A number of other large investors also recently bought and sold shares of SN. Signaturefd LLC lifted its holdings in shares of SharkNinja by 104.6% in the 3rd quarter. Signaturefd LLC now owns 356 shares of the company’s stock valued at $39,000 after buying an additional 182 shares during the period. Hollencrest Capital Management acquired a new stake in SharkNinja in the third quarter valued at $54,000. Waldron Private Wealth LLC purchased a new stake in shares of SharkNinja during the 3rd quarter worth $65,000. Picton Mahoney Asset Management acquired a new position in shares of SharkNinja during the 2nd quarter worth $70,000. Finally, Kessler Investment Group LLC purchased a new position in shares of SharkNinja in the 2nd quarter valued at about $125,000. Hedge funds and other institutional investors own 34.77% of the company’s stock.

Analysts Set New Price Targets

SN has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Bank of America boosted their price target on SharkNinja from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Guggenheim raised their price objective on 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. decreased their target price on SharkNinja from $128.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Jefferies Financial Group raised their price target on SharkNinja from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $116.39.

SharkNinja Trading Up 2.5 %

Shares of SN stock opened at $100.55 on Monday. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 39.43, a PEG ratio of 1.66 and a beta of 1.04. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $103.78 and a 200 day moving average price of $89.77. SharkNinja, Inc. has a twelve month low of $45.35 and a twelve month high of $112.93.

SharkNinja (NYSE:SN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.17. SharkNinja had a net margin of 7.02% and a return on equity of 32.55%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. The company’s revenue was up 33.3% on a year-over-year basis. Research analysts forecast that SharkNinja, Inc. will post 3.88 earnings per share for the current fiscal 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.