Bank of New York Mellon Corp Acquires 237,718 Shares of SharkNinja, Inc. (NYSE:SN)

Bank of New York Mellon Corp boosted its holdings in shares of SharkNinja, Inc. (NYSE:SN) by 1,394.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 254,764 shares of the company’s stock after purchasing an additional 237,718 shares during the quarter. Bank of New York Mellon Corp owned about 0.18% of SharkNinja worth $19,146,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SN. SG Americas Securities LLC increased its stake in SharkNinja by 9.4% in the 1st quarter. SG Americas Securities LLC now owns 4,418 shares of the company’s stock worth $275,000 after acquiring an additional 380 shares during the last quarter. Parallel Advisors LLC bought a new stake in SharkNinja in the 4th quarter worth approximately $37,000. Headlands Technologies LLC bought a new stake in SharkNinja in the 1st quarter worth approximately $66,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in SharkNinja in the 1st quarter worth approximately $77,000. Finally, Kessler Investment Group LLC bought a new stake in SharkNinja in the 2nd quarter worth approximately $125,000. Institutional investors own 34.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. China Renaissance assumed coverage on SharkNinja in a research note on Wednesday, May 29th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lifted their price objective on SharkNinja from $80.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Morgan Stanley lifted their price objective on SharkNinja from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. The Goldman Sachs Group boosted their target price on SharkNinja from $83.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Bank of America boosted their target price on SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.81.

SharkNinja Price Performance

SN opened at $94.72 on Friday. The business has a fifty day moving average of $81.57 and a 200 day moving average of $71.73. SharkNinja, Inc. has a 52-week low of $33.08 and a 52-week high of $98.54. The company has a quick ratio of 1.04, a current ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a market cap of $13.26 billion, a P/E ratio of 70.16, a PEG ratio of 1.40 and a beta of 0.75.

SharkNinja (NYSE:SN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.71 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the business earned $0.46 EPS. SharkNinja’s revenue was up 31.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that SharkNinja, Inc. will post 3.89 EPS for the current year.

SharkNinja 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.