Norges Bank Takes $100.85 Million Position in SharkNinja, Inc. (NYSE:SN)

Norges Bank bought a new position in shares of SharkNinja, Inc. (NYSE:SN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,035,793 shares of the company's stock, valued at approximately $100,845,000. Norges Bank owned 0.74% of SharkNinja as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. HighTower Advisors LLC lifted its holdings in shares of SharkNinja by 42.9% in the 4th quarter. HighTower Advisors LLC now owns 7,179,756 shares of the company's stock worth $699,021,000 after purchasing an additional 2,155,136 shares during the last quarter. William Blair Investment Management LLC boosted its position in SharkNinja by 26.4% during the 4th quarter. William Blair Investment Management LLC now owns 2,827,340 shares of the company's stock worth $275,270,000 after acquiring an additional 590,632 shares during the period. Baillie Gifford & Co. lifted its holdings in SharkNinja by 33.1% in the fourth quarter. Baillie Gifford & Co. now owns 2,430,185 shares of the company's stock worth $236,603,000 after purchasing an additional 604,559 shares during the period. State Street Corp grew its position in SharkNinja by 17.8% in the 3rd quarter. State Street Corp now owns 667,003 shares of the company's stock valued at $72,510,000 after buying an additional 101,020 shares in the last quarter. Finally, Artemis Investment Management LLP increased its stake in SharkNinja by 74.2% during the 4th quarter. Artemis Investment Management LLP now owns 390,757 shares of the company's stock valued at $38,044,000 after buying an additional 166,392 shares during the period. 34.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SN. Jefferies Financial Group increased their price objective on shares of SharkNinja from $150.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Morgan Stanley raised their price objective on SharkNinja from $93.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Canaccord Genuity Group raised their target price on shares of SharkNinja from $129.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of SharkNinja from $120.00 to $127.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, SharkNinja has an average rating of "Moderate Buy" and an average target price of $122.50.

SharkNinja Stock Up 0.9 %

SN stock traded up $0.60 during midday trading on Friday, reaching $70.09. The company had a trading volume of 6,748,147 shares, compared to its average volume of 1,319,294. SharkNinja, Inc. has a 1 year low of $60.50 and a 1 year high of $123.00. The company has a 50 day moving average of $98.77 and a two-hundred day moving average of $101.51. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $9.81 billion, a P/E ratio of 22.54, a PEG ratio of 2.35 and a beta of 1.24.

SharkNinja (NYSE:SN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.20 earnings per share for the quarter, missing analysts' consensus estimates of $1.26 by ($0.06). SharkNinja had a net margin of 7.94% and a return on equity of 32.51%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. On average, equities research analysts expect that SharkNinja, Inc. will post 4.52 earnings per share for the current fiscal year.

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.