Franklin Resources Inc. Acquires New Shares in SharkNinja, Inc. $SN

Franklin Resources Inc. bought a new position in shares of SharkNinja, Inc. (NYSE:SN) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 48,440 shares of the company’s stock, valued at approximately $4,795,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SN. Third Point LLC acquired a new stake in shares of SharkNinja during the first quarter worth about $45,876,000. WCM Investment Management LLC grew its position in shares of SharkNinja by 159.7% in the 2nd quarter. WCM Investment Management LLC now owns 575,867 shares of the company’s stock valued at $55,571,000 after purchasing an additional 354,101 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of SharkNinja by 169.4% in the first quarter. Goldman Sachs Group Inc. now owns 505,301 shares of the company’s stock valued at $42,147,000 after purchasing an additional 317,730 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of SharkNinja by 1,744.6% during the first quarter. Voya Investment Management LLC now owns 242,893 shares of the company’s stock worth $20,260,000 after buying an additional 229,725 shares during the period. Finally, Alua Capital Management LP grew its holdings in shares of SharkNinja by 21.8% during the first quarter. Alua Capital Management LP now owns 1,269,433 shares of the company’s stock worth $105,883,000 after buying an additional 226,944 shares in the last quarter. 34.77% of the stock is owned by institutional investors and hedge funds.

SharkNinja Stock Performance

Shares of NYSE SN opened at $101.25 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.26 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $14.29 billion, a P/E ratio of 25.00, a P/E/G ratio of 1.77 and a beta of 1.46. SharkNinja, Inc. has a 12 month low of $60.50 and a 12 month high of $128.51. The stock has a 50 day moving average of $93.88 and a 200-day moving average of $102.46.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Oppenheimer cut their target price on SharkNinja from $135.00 to $112.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 21st. JPMorgan Chase & Co. cut their price objective on shares of SharkNinja from $131.00 to $126.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. Morgan Stanley set a $110.00 price objective on SharkNinja in a research note on Monday, October 27th. Zacks Research cut shares of SharkNinja from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Finally, Wall Street Zen downgraded shares of SharkNinja from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, SharkNinja presently has an average rating of “Moderate Buy” and an average target price of $127.57.

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.