Peregrine Investment Management Inc. Makes New Investment in SharkNinja, Inc. (NYSE:SN)

Peregrine Investment Management Inc. purchased a new stake in shares of SharkNinja, Inc. (NYSE:SN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 65,480 shares of the company's stock, valued at approximately $6,375,000. SharkNinja comprises approximately 3.7% of Peregrine Investment Management Inc.'s holdings, making the stock its 15th largest holding.

A number of other hedge funds also recently made changes to their positions in SN. State Street Corp increased its stake in shares of SharkNinja by 17.8% during the third quarter. State Street Corp now owns 667,003 shares of the company's stock valued at $72,510,000 after acquiring an additional 101,020 shares during the period. Tidal Investments LLC increased its stake in shares of SharkNinja by 38.7% during the third quarter. Tidal Investments LLC now owns 19,397 shares of the company's stock valued at $2,109,000 after acquiring an additional 5,416 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of SharkNinja during the third quarter valued at approximately $5,832,000. abrdn plc increased its stake in shares of SharkNinja by 17.8% during the third quarter. abrdn plc now owns 419,660 shares of the company's stock valued at $45,621,000 after acquiring an additional 63,299 shares during the period. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of SharkNinja during the third quarter valued at approximately $11,942,000. Institutional investors own 34.77% of the company's stock.

SharkNinja Trading Up 1.8 %

NYSE SN traded up $1.95 on Wednesday, hitting $112.03. 874,670 shares of the stock were exchanged, compared to its average volume of 1,159,689. SharkNinja, Inc. has a 52-week low of $51.93 and a 52-week high of $123.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.73 and a quick ratio of 1.14. The company has a market capitalization of $15.68 billion, a price-to-earnings ratio of 36.02, a P/E/G ratio of 1.68 and a beta of 1.13. The company's 50-day moving average price is $105.30 and its two-hundred day moving average price is $101.51.

SharkNinja (NYSE:SN - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.06). SharkNinja had a return on equity of 32.51% and a net margin of 7.94%. The firm had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.61 billion. Research analysts predict that SharkNinja, Inc. will post 4.5 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.