Retirement Systems of Alabama Acquires 39,612 Shares of SharkNinja, Inc. $SN

Retirement Systems of Alabama raised its holdings in shares of SharkNinja, Inc. (NYSE:SN) by 54.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,798 shares of the company’s stock after buying an additional 39,612 shares during the period. Retirement Systems of Alabama owned about 0.08% of SharkNinja worth $20,317,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Entrust Financial LLC bought a new position in SharkNinja in the third quarter worth approximately $67,000. Ethic Inc. grew its position in shares of SharkNinja by 128.7% during the 3rd quarter. Ethic Inc. now owns 3,673 shares of the company’s stock valued at $662,000 after acquiring an additional 2,067 shares during the period. Kornitzer Capital Management Inc. KS bought a new stake in shares of SharkNinja during the 3rd quarter valued at $603,000. Pictet Asset Management Holding SA bought a new stake in shares of SharkNinja during the 3rd quarter valued at $8,066,000. Finally, Formidable Asset Management LLC bought a new stake in shares of SharkNinja during the 3rd quarter valued at $610,000. 34.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SN. JPMorgan Chase & Co. raised their target price on SharkNinja from $223.00 to $243.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $204.00 target price on shares of SharkNinja in a research report on Thursday, August 6th. Jefferies Financial Group reissued a “buy” rating and set a $300.00 price target on shares of SharkNinja in a report on Wednesday, November 4th. Weiss Ratings upgraded SharkNinja from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. Finally, Wall Street Zen cut SharkNinja from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Fourteen analysts have rated the stock with a Buy rating. Based on data from MarketBeat, SharkNinja presently has an average rating of “Buy” and a consensus price target of $211.39.

SharkNinja Price Performance

Shares of NYSE:SN opened at $227.07 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.04 and a quick ratio of 1.39. SharkNinja, Inc. has a 1-year low of $83.21 and a 1-year high of $232.76. The company has a market capitalization of $32.00 billion, a P/E ratio of 38.99, a P/E/G ratio of 2.48 and a beta of 1.21. The firm’s 50 day simple moving average is $188.53 and its two-hundred day simple moving average is $146.58.

SharkNinja (NYSE:SN) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.44. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.87 billion. SharkNinja had a net margin of 11.64% and a return on equity of 28.84%. The company’s revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 earnings per share. Research analysts expect that SharkNinja, Inc. will post 5.93 EPS for the current fiscal year.

Insider Activity at SharkNinja

In related news, insider Neil Shah sold 40,000 shares of SharkNinja stock in a transaction on Friday, November 6th. The shares were sold at an average price of $223.45, for a total transaction of $8,938,000.00. Following the transaction, the insider owned 457,220 shares in the company, valued at approximately $102,165,809. The trade was a 8.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 40.80% of the stock is owned by insiders.

SharkNinja Company Profile

SharkNinja is a global product design and technology company that develops and markets household appliances under its Shark and Ninja brands. Its products are designed for everyday home use and are sold through retail and online channels. The Shark brand is known for floor-care and cleaning products, including vacuums and floor cleaners, as well as home-environment and beauty products. Ninja focuses on kitchen appliances and food-preparation products, such as air fryers, blenders, multicookers, and coffee makers.