Contravisory Investment Management Inc. Invests $8.17 Million in SharkNinja, Inc. (NYSE:SN)

Contravisory Investment Management Inc. acquired a new stake in SharkNinja, Inc. (NYSE:SN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 83,916 shares of the company’s stock, valued at approximately $8,170,000. SharkNinja accounts for approximately 1.7% of Contravisory Investment Management Inc.’s holdings, making the stock its 26th biggest holding. Contravisory Investment Management Inc. owned about 0.06% of SharkNinja as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of SharkNinja by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 750,434 shares of the company’s stock valued at $56,401,000 after acquiring an additional 14,140 shares during the period. Renaissance Technologies LLC raised its holdings in SharkNinja by 16.3% during the second quarter. Renaissance Technologies LLC now owns 368,800 shares of the company’s stock worth $27,715,000 after purchasing an additional 51,800 shares during the last quarter. Amalgamated Bank purchased a new stake in SharkNinja during the second quarter worth $285,000. Blair William & Co. IL acquired a new stake in SharkNinja in the second quarter valued at $5,118,000. Finally, Seven Eight Capital LP increased its position in shares of SharkNinja by 27.1% in the second quarter. Seven Eight Capital LP now owns 28,847 shares of the company’s stock valued at $2,168,000 after buying an additional 6,156 shares in the last quarter. Hedge funds and other institutional investors own 34.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Guggenheim increased their price objective 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. The Goldman Sachs Group raised their price objective on shares of SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Oppenheimer assumed coverage on SharkNinja in a report on Tuesday, October 1st. They set an “outperform” rating and a $120.00 target price on the stock. Canaccord Genuity Group lifted their price objective on SharkNinja from $128.00 to $129.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley raised their price target on shares of SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, SharkNinja presently has an average rating of “Moderate Buy” and a consensus target price of $116.50.

SharkNinja Stock Performance

NYSE:SN opened at $107.13 on Thursday. The company has a market cap of $14.99 billion, a P/E ratio of 42.01, a P/E/G ratio of 1.54 and a beta of 1.10. The firm’s 50 day moving average is $99.79 and its two-hundred day moving average is $94.97. SharkNinja, Inc. has a fifty-two week low of $45.85 and a fifty-two week high of $112.93. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 0.42.

SharkNinja (NYSE:SN) last issued its earnings results 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. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.31 billion. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Analysts expect that SharkNinja, Inc. will post 3.89 EPS for the current year.

SharkNinja Company 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.