Concorde Asset Management LLC Makes New $661,000 Investment in SharkNinja, Inc. (NYSE:SN)

Concorde Asset Management LLC purchased a new stake in SharkNinja, Inc. (NYSE:SN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,801 shares of the company’s stock, valued at approximately $661,000.

Other hedge funds also recently made changes to their positions in the company. Perpetual Ltd increased its holdings in SharkNinja by 3.6% in the 1st quarter. Perpetual Ltd now owns 317,960 shares of the company’s stock worth $19,806,000 after purchasing an additional 11,112 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of SharkNinja in the first quarter valued at approximately $981,000. GSA Capital Partners LLP bought a new position in SharkNinja in the 1st quarter valued at approximately $1,076,000. Capstone Investment Advisors LLC raised its holdings in SharkNinja by 275.5% in the 1st quarter. Capstone Investment Advisors LLC now owns 92,772 shares of the company’s stock valued at $5,779,000 after buying an additional 68,069 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in SharkNinja during the 4th quarter worth approximately $47,811,000. 34.77% of the stock is currently owned by institutional investors and hedge funds.

SharkNinja Stock Up 1.5 %

Shares of SharkNinja stock opened at $104.99 on Thursday. The stock’s 50-day moving average is $85.87 and its 200 day moving average is $74.49. SharkNinja, Inc. has a one year low of $38.69 and a one year high of $106.26. The firm has a market cap of $14.69 billion, a price-to-earnings ratio of 77.77, a PEG ratio of 1.49 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.71 and a quick ratio of 1.04.

SharkNinja (NYSE:SN) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.14. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.08 billion. SharkNinja had a return on equity of 32.29% and a net margin of 5.16%. The company’s revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 earnings per share. Equities research analysts anticipate that SharkNinja, Inc. will post 3.89 EPS for the current year.

Analyst Upgrades and Downgrades

SN has been the subject of several recent research reports. Canaccord Genuity Group upped their price target 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. JPMorgan Chase & Co. raised their target price on SharkNinja from $80.00 to $97.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. China Renaissance began coverage on SharkNinja in a research report on Wednesday, May 29th. They issued a “buy” rating on the stock. The Goldman Sachs Group raised their price objective on SharkNinja from $83.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Bank of America upped their target price on SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. One equities research 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.81.

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.