Fred Alger Management LLC Purchases Shares of 7,455 SharkNinja, Inc. (NYSE:SN)

Fred Alger Management LLC acquired a new position in shares of SharkNinja, Inc. (NYSE:SN) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,455 shares of the company’s stock, valued at approximately $810,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in SharkNinja by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 55,735 shares of the company’s stock valued at $3,472,000 after acquiring an additional 4,411 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of SharkNinja in the second quarter valued at approximately $513,000. Kingswood Wealth Advisors LLC purchased a new stake in SharkNinja during the 2nd quarter worth approximately $756,000. SG Americas Securities LLC boosted its position in SharkNinja by 920.8% in the 2nd quarter. SG Americas Securities LLC now owns 45,101 shares of the company’s stock valued at $3,389,000 after buying an additional 40,683 shares during the period. Finally, Dnca Finance acquired a new position in shares of SharkNinja in the second quarter worth $6,113,000. Hedge funds and other institutional investors own 34.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SN. Bank of America lifted their target price on SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Morgan Stanley boosted their price objective on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Guggenheim raised their target price on shares of SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 7th. Oppenheimer initiated coverage on shares of SharkNinja in a report on Tuesday, October 1st. They set an “outperform” rating and a $120.00 price target for the company. Finally, Canaccord Genuity Group raised their price objective on shares of SharkNinja from $126.00 to $128.00 and gave the company a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.39.

SharkNinja Trading Up 2.5 %

NYSE:SN opened at $100.55 on Monday. The company has a market capitalization of $14.07 billion, a PE ratio of 39.43, a P/E/G ratio of 1.66 and a beta of 1.04. SharkNinja, Inc. has a 52-week low of $45.35 and a 52-week high of $112.93. The stock’s 50 day moving average price is $103.78 and its 200 day moving average price is $89.77. 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 announced its earnings results on Thursday, October 31st. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.17. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.31 billion. SharkNinja had a net margin of 7.02% and a return on equity of 32.55%. The company’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. On average, research analysts anticipate that SharkNinja, Inc. will post 3.88 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.