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

Contravisory Investment Management Inc. purchased a new stake in SharkNinja, Inc. (NYSE:SN) in the fourth quarter, Holdings Channel reports. The firm purchased 83,916 shares of the company’s stock, valued at approximately $8,170,000. SharkNinja comprises about 1.7% of Contravisory Investment Management Inc.’s holdings, making the stock its 26th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC boosted its stake in SharkNinja by 47.5% during the 3rd quarter. FMR LLC now owns 10,307,632 shares of the company’s stock valued at $1,120,543,000 after purchasing an additional 3,321,684 shares during the period. Baillie Gifford & Co. grew its holdings in SharkNinja by 6,408.9% in the 3rd quarter. Baillie Gifford & Co. now owns 1,825,626 shares of the company’s stock worth $198,464,000 after buying an additional 1,797,578 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in SharkNinja during the 3rd quarter valued at $114,878,000. Thrivent Financial for Lutherans boosted its position in SharkNinja by 29.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,695,933 shares of the company’s stock worth $127,450,000 after acquiring an additional 380,926 shares during the period. Finally, WCM Investment Management LLC acquired a new position in SharkNinja during the 3rd quarter worth $23,874,000. 34.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SN. JPMorgan Chase & Co. lowered their price target on SharkNinja from $128.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Oppenheimer began coverage on shares of SharkNinja in a research note on Tuesday, October 1st. They set an “outperform” rating and a $120.00 target price on the stock. Canaccord Genuity Group upped their price target on shares of SharkNinja from $128.00 to $129.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Guggenheim increased their price target 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 lifted their price target on SharkNinja from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. One 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.50.

SharkNinja Stock Up 1.3 %

Shares of SharkNinja stock opened at $107.13 on Thursday. 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, Inc. has a 1 year low of $45.85 and a 1 year high of $112.93. The stock has a 50-day moving average price of $99.79 and a 200 day moving average price of $94.97. The company has a market cap of $14.99 billion, a P/E ratio of 42.01, a P/E/G ratio of 1.54 and a beta of 1.10.

SharkNinja (NYSE:SN) last released its earnings results on Thursday, October 31st. The company reported $1.21 earnings per share (EPS) 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 earned $0.95 EPS. The company’s revenue was up 33.3% compared to the same quarter last year. As a group, analysts expect that SharkNinja, Inc. will post 3.89 EPS 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.