Fred Alger Management LLC Makes New $810,000 Investment in SharkNinja, Inc. (NYSE:SN)

Fred Alger Management LLC bought a new stake in SharkNinja, Inc. (NYSE:SN - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,455 shares of the company's stock, valued at approximately $810,000.

A number of other institutional investors have also recently modified their holdings of SN. CIBC Asset Management Inc lifted its position in SharkNinja by 3.6% during the third quarter. CIBC Asset Management Inc now owns 4,026 shares of the company's stock worth $438,000 after buying an additional 139 shares during the period. Signaturefd LLC raised its stake in shares of SharkNinja by 104.6% in the 3rd quarter. Signaturefd LLC now owns 356 shares of the company's stock valued at $39,000 after acquiring an additional 182 shares during the period. Hollencrest Capital Management purchased a new stake in SharkNinja during the 3rd quarter worth $54,000. Waldron Private Wealth LLC purchased a new position in SharkNinja in the third quarter valued at about $65,000. Finally, Concorde Asset Management LLC grew its stake in shares of SharkNinja by 7.6% in the third quarter. Concorde Asset Management LLC now owns 9,468 shares of the company's stock valued at $1,029,000 after buying an additional 667 shares in the last quarter. 34.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of SharkNinja from $128.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, November 1st. Canaccord Genuity Group boosted their target price on shares of SharkNinja from $126.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Jefferies Financial Group lifted their price target on SharkNinja from $115.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Guggenheim lifted their target price on SharkNinja from $100.00 to $120.00 and gave the company a "buy" rating in a research note on Monday, October 7th. Finally, Morgan Stanley increased their target price 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. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, SharkNinja presently has a consensus rating of "Moderate Buy" and an average price target of $116.39.

SharkNinja Stock Performance

Shares of SN traded down $2.18 during mid-day trading on Monday, reaching $98.37. The company's stock had a trading volume of 874,465 shares, compared to its average volume of 1,213,242. The stock has a market cap of $13.77 billion, a P/E ratio of 38.56, a PEG ratio of 1.66 and a beta of 1.04. The business has a 50-day simple moving average of $103.78 and a two-hundred day simple moving average of $89.77. SharkNinja, Inc. has a 1-year low of $45.70 and a 1-year high of $112.93. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42.

SharkNinja (NYSE:SN - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.21 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter last year, the business earned $0.95 earnings per share. SharkNinja's revenue was up 33.3% on a year-over-year basis. As a group, equities research analysts anticipate that SharkNinja, Inc. will post 3.88 earnings per share for the current fiscal year.

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.