Lord Abbett & CO. LLC Takes Position in SharkNinja, Inc. (NYSE:SN)

Lord Abbett & CO. LLC acquired a new stake in shares of SharkNinja, Inc. (NYSE:SN - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 53,649 shares of the company's stock, valued at approximately $5,832,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Signaturefd LLC raised its position in SharkNinja by 104.6% during the 3rd quarter. Signaturefd LLC now owns 356 shares of the company's stock valued at $39,000 after purchasing an additional 182 shares during the last quarter. Hollencrest Capital Management purchased a new position in SharkNinja during the 3rd quarter valued at $54,000. Safe Harbor Fiduciary LLC bought a new position in SharkNinja in the 3rd quarter worth $54,000. Waldron Private Wealth LLC purchased a new stake in shares of SharkNinja in the 3rd quarter worth about $65,000. Finally, Picton Mahoney Asset Management bought a new stake in shares of SharkNinja during the 2nd quarter valued at about $70,000. 34.77% of the stock is currently owned by institutional investors.

SharkNinja Stock Performance

SharkNinja stock traded down $0.78 during mid-day trading on Tuesday, reaching $100.88. 622,962 shares of the stock traded hands, compared to its average volume of 1,204,800. The stock has a market capitalization of $14.12 billion, a PE ratio of 39.56, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.67 and a quick ratio of 0.95. The business's 50-day moving average is $102.17 and its 200-day moving average is $91.89. SharkNinja, Inc. has a 12-month low of $45.85 and a 12-month high of $112.93.

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. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.31 billion. SharkNinja had a net margin of 7.02% and a return on equity of 32.55%. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The company's revenue for the quarter was up 33.3% on a year-over-year basis. As a group, sell-side analysts predict that SharkNinja, Inc. will post 3.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SN has been the subject of a number of research reports. Canaccord Genuity Group increased their price target on shares of SharkNinja from $126.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Morgan Stanley raised their target price on SharkNinja from $80.00 to $93.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. Guggenheim upped their price target on SharkNinja from $100.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, October 7th. The Goldman Sachs Group raised their price objective on SharkNinja from $102.00 to $123.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group upped their target price on shares of SharkNinja from $115.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $116.39.

SharkNinja 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.