Fortis Group Advisors LLC Makes New Investment in SharkNinja, Inc. (NYSE:SN)

Fortis Group Advisors LLC bought a new position in SharkNinja, Inc. (NYSE:SN) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 8,614 shares of the company’s stock, valued at approximately $647,000.

Several other institutional investors also recently modified their holdings of the business. Parallel Advisors LLC bought a new stake in SharkNinja in the fourth quarter worth about $37,000. Headlands Technologies LLC purchased a new position in SharkNinja in the first quarter valued at approximately $66,000. E Fund Management Hong Kong Co. Ltd. bought a new position in SharkNinja during the first quarter valued at $77,000. Kessler Investment Group LLC purchased a new stake in SharkNinja in the second quarter worth $125,000. Finally, Essex LLC bought a new stake in shares of SharkNinja in the first quarter valued at $204,000. 34.77% of the stock is owned by institutional investors.

SharkNinja Price Performance

SN stock traded up $3.91 during mid-day trading on Friday, hitting $95.82. 2,090,478 shares of the stock were exchanged, compared to its average volume of 1,102,235. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.71 and a quick ratio of 1.04. The business has a fifty day moving average price of $79.63 and a 200 day moving average price of $70.18. SharkNinja, Inc. has a 12 month low of $33.08 and a 12 month high of $95.90. The stock has a market capitalization of $13.41 billion and a price-to-earnings ratio of 70.98.

SharkNinja (NYSE:SN) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping 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 firm 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 company posted $0.46 earnings per share. The company’s revenue was up 31.4% compared to the same quarter last year. On average, sell-side analysts anticipate that SharkNinja, Inc. will post 4.23 EPS for the current year.

Analyst Upgrades and Downgrades

SN has been the subject of a number of research reports. Bank of America increased their target price on shares of SharkNinja from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Morgan Stanley increased their target price on SharkNinja from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. The Goldman Sachs Group boosted their price objective on SharkNinja from $83.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Canaccord Genuity Group raised their target price on SharkNinja from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, UBS Group upped their price target on SharkNinja from $76.00 to $83.50 and gave the company a “buy” rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.81.

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.