SharkNinja Sees Unusually Large Options Volume (NYSE:SN)

SharkNinja, Inc. (NYSE:SN - Get Free Report) was the recipient of some unusual options trading on Friday. Traders purchased 4,721 call options on the company. Thisisanincreaseofapproximately118% compared to the typical daily volume of 2,162 call options.

Hedge Funds Weigh In On SharkNinja

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Hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in SharkNinja in the 2nd quarter valued at $81,983,000. Palestra Capital Management LLC raised its position in shares of SharkNinja by 83.4% in the fourth quarter. Palestra Capital Management LLC now owns 1,780,785 shares of the company's stock valued at $173,377,000 after buying an additional 809,960 shares during the last quarter. Greenvale Capital LLP purchased a new stake in shares of SharkNinja in the fourth quarter valued at about $73,020,000. Third Point LLC boosted its stake in SharkNinja by 118.2% during the second quarter. Third Point LLC now owns 1,200,000 shares of the company's stock worth $118,788,000 after buying an additional 650,000 shares during the period. Finally, Disciplined Growth Investors Inc. MN acquired a new stake in SharkNinja in the second quarter valued at approximately $46,048,000. Hedge funds and other institutional investors own 34.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of SharkNinja from $127.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of SharkNinja from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Morgan Stanley lifted their target price on shares of SharkNinja from $85.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. boosted their target price on shares of SharkNinja from $108.00 to $144.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group increased their target price on shares of SharkNinja from $100.00 to $112.00 and gave the company a "buy" rating in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $131.86.

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Read Our Latest Analysis on SN

SharkNinja Trading Down 0.8%

Shares of SN traded down $0.99 during trading hours on Friday, reaching $118.31. The stock had a trading volume of 98,944 shares, compared to its average volume of 1,647,031. The firm has a 50-day moving average of $105.76 and a 200 day moving average of $96.76. SharkNinja has a 52 week low of $60.50 and a 52 week high of $128.51. The company has a market cap of $16.69 billion, a P/E ratio of 32.27, a P/E/G ratio of 2.38 and a beta of 1.69. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.32.

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SharkNinja (NYSE:SN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.19. SharkNinja had a net margin of 8.82% and a return on equity of 28.78%. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. SharkNinja's revenue for the quarter was up 15.7% on a year-over-year basis. On average, sell-side analysts expect that SharkNinja will post 4.52 earnings per share 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.

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