SharkNinja, Inc. (NYSE:SN) is Advantage Alpha Capital Partners LP's 4th Largest Position

Advantage Alpha Capital Partners LP lessened its stake in SharkNinja, Inc. (NYSE:SN - Free Report) by 39.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,421 shares of the company's stock after selling 50,778 shares during the period. SharkNinja accounts for approximately 1.9% of Advantage Alpha Capital Partners LP's portfolio, making the stock its 4th largest position. Advantage Alpha Capital Partners LP owned approximately 0.05% of SharkNinja worth $8,306,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. FMR LLC increased its holdings in shares of SharkNinja by 47.5% in the 3rd quarter. FMR LLC now owns 10,307,632 shares of the company's stock valued at $1,120,543,000 after acquiring an additional 3,321,684 shares during the period. William Blair Investment Management LLC purchased a new position in SharkNinja during the 2nd quarter worth $190,482,000. Baillie Gifford & Co. increased its stake in SharkNinja by 6,408.9% in the third quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company's stock valued at $198,464,000 after purchasing an additional 1,797,578 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of SharkNinja by 29.0% in the second quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company's stock valued at $127,450,000 after buying an additional 380,926 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in SharkNinja in the 3rd quarter valued at about $114,878,000. Hedge funds and other institutional investors own 34.77% of the company's stock.

SharkNinja Price Performance

SharkNinja stock traded down $3.44 during mid-day trading on Tuesday, hitting $99.27. 989,291 shares of the company were exchanged, compared to its average volume of 1,219,934. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.67 and a quick ratio of 0.95. SharkNinja, Inc. has a 12-month low of $45.35 and a 12-month high of $112.93. The business's 50 day simple moving average is $104.29 and its two-hundred day simple moving average is $88.99. The company has a market capitalization of $13.89 billion, a P/E ratio of 39.31, a PEG ratio of 1.62 and a beta of 1.04.

SharkNinja (NYSE:SN - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.17. SharkNinja had a return on equity of 32.55% and a net margin of 7.02%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm posted $0.95 EPS. SharkNinja's revenue was up 33.3% on a year-over-year basis. Analysts forecast that SharkNinja, Inc. will post 3.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SN shares. The Goldman Sachs Group lifted their target price on SharkNinja from $102.00 to $123.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Morgan Stanley lifted their price objective on shares of SharkNinja from $80.00 to $93.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. Oppenheimer started coverage on shares of SharkNinja in a research report on Tuesday, October 1st. They set an "outperform" rating and a $120.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of SharkNinja from $128.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, November 1st. Finally, Jefferies Financial Group increased their price target on shares of SharkNinja from $115.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $110.85.

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.