Northern Trust Corp Acquires 16,607 Shares of SharkNinja, Inc. (NYSE:SN)

Northern Trust Corp lifted its holdings in shares of SharkNinja, Inc. (NYSE:SN) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,285 shares of the company’s stock after acquiring an additional 16,607 shares during the period. Northern Trust Corp owned approximately 0.09% of SharkNinja worth $12,782,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its position in SharkNinja by 59.8% in the 4th quarter. FMR LLC now owns 16,467,858 shares of the company’s stock worth $1,603,311,000 after purchasing an additional 6,160,226 shares in the last quarter. HighTower Advisors LLC grew its position in SharkNinja by 42.9% in the 4th quarter. HighTower Advisors LLC now owns 7,179,756 shares of the company’s stock worth $699,021,000 after purchasing an additional 2,155,136 shares in the last quarter. Norges Bank bought a new stake in SharkNinja in the 4th quarter worth about $100,845,000. Baillie Gifford & Co. grew its position in SharkNinja by 33.1% in the 4th quarter. Baillie Gifford & Co. now owns 2,430,185 shares of the company’s stock worth $236,603,000 after purchasing an additional 604,559 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its stake in SharkNinja by 26.4% in the fourth quarter. William Blair Investment Management LLC now owns 2,827,340 shares of the company’s stock valued at $275,270,000 after acquiring an additional 590,632 shares during the last quarter. 34.77% of the stock is owned by institutional investors.

SharkNinja Stock Performance

Shares of SN stock opened at $102.00 on Friday. The company has a 50 day moving average price of $82.95 and a 200-day moving average price of $95.74. SharkNinja, Inc. has a 52 week low of $60.50 and a 52 week high of $123.00. The firm has a market capitalization of $14.32 billion, a PE ratio of 32.80, a P/E/G ratio of 2.35 and a beta of 1.68. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.38.

SharkNinja (NYSE:SN) last announced its earnings results on Thursday, May 8th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.14. The company had revenue of $1.22 billion during 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 quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.06 earnings per share. As a group, equities research analysts expect that SharkNinja, Inc. will post 4.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Guggenheim dropped their target price on shares of SharkNinja from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Canaccord Genuity Group boosted their target price on shares of SharkNinja from $129.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. dropped their target price on shares of SharkNinja from $139.00 to $98.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group upped their price target on shares of SharkNinja from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Oppenheimer upped their price target on shares of SharkNinja from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $121.50.

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.