Saudi Central Bank Invests $908,000 in SharkNinja, Inc. $SN

Saudi Central Bank purchased a new position in shares of SharkNinja, Inc. (NYSE:SN) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 5,960 shares of the company’s stock, valued at approximately $908,000.

Other hedge funds have also recently added to or reduced their stakes in the company. FIL Ltd increased its position in SharkNinja by 2.2% during the 4th quarter. FIL Ltd now owns 2,268,418 shares of the company’s stock worth $253,836,000 after purchasing an additional 48,163 shares during the period. Palestra Capital Management LLC lifted its holdings in shares of SharkNinja by 10.3% in the 3rd quarter. Palestra Capital Management LLC now owns 1,388,046 shares of the company’s stock valued at $143,177,000 after buying an additional 130,121 shares during the period. Alliancebernstein L.P. boosted its stake in shares of SharkNinja by 39.3% in the second quarter. Alliancebernstein L.P. now owns 1,337,735 shares of the company’s stock valued at $132,422,000 after buying an additional 377,544 shares in the last quarter. Parsifal Capital Management LP acquired a new position in SharkNinja during the third quarter worth $111,773,000. Finally, Morgan Stanley grew its holdings in SharkNinja by 191.3% during the fourth quarter. Morgan Stanley now owns 1,080,326 shares of the company’s stock worth $120,889,000 after acquiring an additional 709,494 shares during the period. Institutional investors and hedge funds own 34.77% of the company’s stock.

SharkNinja Trading Down 3.6%

Shares of SN stock opened at $168.79 on Thursday. The stock has a market cap of $23.78 billion, a P/E ratio of 34.45, a P/E/G ratio of 2.07 and a beta of 1.24. The company has a quick ratio of 1.45, a current ratio of 2.08 and a debt-to-equity ratio of 0.24. SharkNinja, Inc. has a fifty-two week low of $83.12 and a fifty-two week high of $194.54. The business has a fifty day simple moving average of $168.35 and a 200-day simple moving average of $135.49.

SharkNinja (NYSE:SN) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.11 by $0.15. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.65 billion. SharkNinja had a net margin of 10.06% and a return on equity of 27.79%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. SharkNinja has set its FY 2026 guidance at 6.450-6.550 EPS. On average, analysts forecast that SharkNinja, Inc. will post 5.89 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Neil Shah sold 50,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $186.36, for a total value of $9,318,000.00. Following the sale, the insider directly owned 497,220 shares in the company, valued at $92,661,919.20. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 100,000 shares of company stock valued at $18,613,911 over the last quarter. 40.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SN has been the subject of a number of recent analyst reports. Weiss Ratings raised SharkNinja from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 17th. Piper Sandler reiterated an “overweight” rating and issued a $200.00 price target (up from $181.00) on shares of SharkNinja in a report on Thursday, August 6th. Wall Street Zen upgraded shares of SharkNinja from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Bank of America boosted their price objective on shares of SharkNinja from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $204.00 target price on shares of SharkNinja in a research report on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $188.59.

SharkNinja Company Profile

SharkNinja, Inc is a global product design and technology company that develops and markets consumer appliances and household products. Its portfolio is organized primarily around the Shark and Ninja brands, which are sold through retailers, e-commerce channels and other distribution partners.

Shark products include vacuum cleaners, floor-care systems, air purifiers, beauty appliances and other home-cleaning solutions. Ninja products include blenders, food processors, air fryers, coffee and beverage systems, cookware, ovens, grills and other kitchen appliances.