Lord Abbett & CO. LLC Takes $5.83 Million Position in SharkNinja, Inc. (NYSE:SN)

Lord Abbett & CO. LLC bought a new position in shares of SharkNinja, Inc. (NYSE:SN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 53,649 shares of the company’s stock, valued at approximately $5,832,000.

A number of other institutional investors have also made changes to their positions in SN. Signaturefd LLC boosted its position in SharkNinja by 104.6% during the third quarter. Signaturefd LLC now owns 356 shares of the company’s stock worth $39,000 after purchasing an additional 182 shares during the period. Hollencrest Capital Management acquired a new stake in shares of SharkNinja during the 3rd quarter worth about $54,000. Safe Harbor Fiduciary LLC bought a new stake in shares of SharkNinja during the 3rd quarter worth about $54,000. Waldron Private Wealth LLC acquired a new position in SharkNinja in the 3rd quarter valued at about $65,000. Finally, Picton Mahoney Asset Management acquired a new position in SharkNinja in the 2nd quarter valued at about $70,000. 34.77% of the stock is owned by institutional investors and hedge funds.

SharkNinja Stock Up 2.0 %

Shares of NYSE SN opened at $101.66 on Tuesday. The stock has a market capitalization of $14.23 billion, a P/E ratio of 39.87, a PEG ratio of 1.65 and a beta of 1.00. The stock’s fifty day moving average is $102.35 and its 200 day moving average is $91.72. SharkNinja, Inc. has a 52 week low of $45.85 and a 52 week high of $112.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.67.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SN shares. Guggenheim boosted their price objective on SharkNinja from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 7th. The Goldman Sachs Group upped their price objective on SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a report on Monday, October 21st. Morgan Stanley increased their price objective on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Oppenheimer began coverage on shares of SharkNinja in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $116.39.

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.