Blue Grotto Capital LLC Takes Position in SharkNinja, Inc. $SN

Blue Grotto Capital LLC purchased a new position in shares of SharkNinja, Inc. (NYSE:SN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 250,180 shares of the company’s stock, valued at approximately $24,765,000. SharkNinja comprises 3.0% of Blue Grotto Capital LLC’s portfolio, making the stock its 16th biggest position. Blue Grotto Capital LLC owned about 0.18% of SharkNinja at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SN. World Investment Advisors raised its holdings in SharkNinja by 3.0% in the 2nd quarter. World Investment Advisors now owns 3,312 shares of the company’s stock valued at $328,000 after acquiring an additional 98 shares during the last quarter. California State Teachers Retirement System grew its position in shares of SharkNinja by 6.1% in the second quarter. California State Teachers Retirement System now owns 4,438 shares of the company’s stock valued at $439,000 after purchasing an additional 257 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of SharkNinja by 6.2% in the second quarter. PNC Financial Services Group Inc. now owns 5,747 shares of the company’s stock valued at $569,000 after purchasing an additional 337 shares during the last quarter. Assetmark Inc. lifted its position in SharkNinja by 7.1% during the second quarter. Assetmark Inc. now owns 6,117 shares of the company’s stock worth $606,000 after buying an additional 404 shares in the last quarter. Finally, Scotia Capital Inc. boosted its stake in SharkNinja by 1.6% during the second quarter. Scotia Capital Inc. now owns 27,661 shares of the company’s stock worth $2,738,000 after buying an additional 426 shares during the last quarter. Hedge funds and other institutional investors own 34.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Zacks Research downgraded SharkNinja from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of SharkNinja in a report on Monday. Oppenheimer cut their price objective on shares of SharkNinja from $135.00 to $112.00 and set an “outperform” rating for the company in a research report on Tuesday, October 21st. Morgan Stanley set a $110.00 target price on shares of SharkNinja in a research note on Monday, October 27th. Finally, Cowen started coverage on shares of SharkNinja in a research note on Wednesday. They issued a “buy” rating for the company. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $128.50.

SharkNinja Trading Down 1.3%

NYSE SN opened at $112.73 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.26. The stock has a market capitalization of $15.91 billion, a P/E ratio of 27.83, a PEG ratio of 2.07 and a beta of 1.46. The firm’s 50-day moving average is $94.77 and its two-hundred day moving average is $103.10. SharkNinja, Inc. has a 12 month low of $60.50 and a 12 month high of $128.51.

SharkNinja Company 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.