Principal Financial Group Inc. Cuts Stock Position in SharkNinja, Inc. (NYSE:SN)

Principal Financial Group Inc. trimmed its holdings in SharkNinja, Inc. (NYSE:SN) by 9.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,622 shares of the company’s stock after selling 465 shares during the period. Principal Financial Group Inc.’s holdings in SharkNinja were worth $502,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC lifted its stake in SharkNinja by 104.6% in the 3rd quarter. Signaturefd LLC now owns 356 shares of the company’s stock worth $39,000 after purchasing an additional 182 shares in the last quarter. Waldron Private Wealth LLC bought a new position in SharkNinja during the third quarter valued at approximately $65,000. Picton Mahoney Asset Management purchased a new position in SharkNinja during the 2nd quarter valued at approximately $70,000. Fortis Group Advisors LLC increased its stake in SharkNinja by 11.4% in the 3rd quarter. Fortis Group Advisors LLC now owns 9,594 shares of the company’s stock worth $1,043,000 after acquiring an additional 980 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of SharkNinja by 14.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,881 shares of the company’s stock worth $965,000 after acquiring an additional 1,126 shares in the last quarter. Institutional investors own 34.77% of the company’s stock.

SharkNinja Trading Down 2.1 %

SN opened at $98.34 on Monday. SharkNinja, Inc. has a one year low of $45.35 and a one year 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. The stock has a market cap of $13.76 billion, a price-to-earnings ratio of 38.56, a P/E/G ratio of 1.66 and a beta of 1.04. The stock’s 50 day moving average price is $104.30 and its 200-day moving average price is $88.77.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Bank of America raised their target price on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Canaccord Genuity Group lifted their price objective on shares of SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Guggenheim upped their target price on shares of SharkNinja from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Morgan Stanley lifted their price target on SharkNinja from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. lowered their price objective on SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.85.

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.