Norges Bank Buys New Position in SharkNinja, Inc. $SN

Norges Bank purchased a new stake in SharkNinja, Inc. (NYSE:SN) in the second quarter, Holdings Channel.com reports. The fund purchased 828,197 shares of the company’s stock, valued at approximately $81,983,000.

A number of other hedge funds have also recently bought and sold shares of the company. Harbour Investments Inc. grew its stake in shares of SharkNinja by 5,800.0% in the 1st quarter. Harbour Investments Inc. now owns 413 shares of the company’s stock worth $34,000 after acquiring an additional 406 shares in the last quarter. New York State Teachers Retirement System purchased a new position in SharkNinja during the second quarter worth about $43,000. SVB Wealth LLC bought a new stake in SharkNinja in the 1st quarter worth about $36,000. CWM LLC increased its stake in SharkNinja by 656.7% in the 2nd quarter. CWM LLC now owns 787 shares of the company’s stock valued at $78,000 after buying an additional 683 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of SharkNinja by 246.7% during the 2nd quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock worth $119,000 after buying an additional 856 shares in the last quarter. 34.77% of the stock is owned by hedge funds and other institutional investors.

SharkNinja Stock Down 1.0%

SN stock opened at $106.35 on Friday. The stock has a fifty day moving average of $93.71 and a 200-day moving average of $102.51. SharkNinja, Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $128.51. The company has a market capitalization of $15.01 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 1.95 and a beta of 1.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.26 and a current ratio of 1.96.

Analysts Set New Price Targets

SN has been the subject of several recent analyst reports. Wall Street Zen lowered SharkNinja from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings downgraded SharkNinja from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Guggenheim reiterated a “buy” rating on shares of SharkNinja in a research note on Friday, August 8th. Canaccord Genuity Group increased their price target on shares of SharkNinja from $136.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Zacks Research lowered shares of SharkNinja from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.57.

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.