Fortis Group Advisors LLC Purchases 980 Shares of SharkNinja, Inc. (NYSE:SN)

Fortis Group Advisors LLC boosted its holdings in shares of SharkNinja, Inc. (NYSE:SN) by 11.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,594 shares of the company’s stock after acquiring an additional 980 shares during the quarter. Fortis Group Advisors LLC’s holdings in SharkNinja were worth $1,043,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SN. Picton Mahoney Asset Management acquired a new stake in shares of SharkNinja in the second quarter worth $70,000. Headlands Technologies LLC acquired a new position in SharkNinja during the 1st quarter worth $66,000. Kessler Investment Group LLC bought a new stake in SharkNinja during the second quarter valued at about $125,000. Magnetar Financial LLC acquired a new stake in shares of SharkNinja in the second quarter valued at about $233,000. Finally, Essex LLC bought a new position in shares of SharkNinja in the first quarter worth about $204,000. 34.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on SN shares. The Goldman Sachs Group increased their target price on SharkNinja from $102.00 to $123.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of SharkNinja from $97.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Bank of America upped their target price on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Oppenheimer started coverage on shares of SharkNinja in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price target on the stock. Finally, Canaccord Genuity Group upped their price objective on shares of SharkNinja from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.28.

SharkNinja Price Performance

NYSE:SN traded down $0.92 during mid-day trading on Tuesday, hitting $108.94. The company’s stock had a trading volume of 55,865 shares, compared to its average volume of 1,113,740. The company has a market capitalization of $15.25 billion, a price-to-earnings ratio of 63.14, a P/E/G ratio of 1.90 and a beta of 0.77. The company has a current ratio of 1.71, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. SharkNinja, Inc. has a fifty-two week low of $38.69 and a fifty-two week high of $110.96. The stock has a fifty day moving average of $100.66 and a 200-day moving average of $82.43.

SharkNinja (NYSE:SN) last issued its earnings results on Thursday, August 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.14. SharkNinja had a return on equity of 32.29% and a net margin of 5.16%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the firm posted $0.46 EPS. SharkNinja’s quarterly revenue was up 31.4% compared to the same quarter last year. As a group, equities analysts forecast that SharkNinja, Inc. will post 3.89 EPS 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.