Traders Purchase High Volume of Put Options on SharkNinja (NYSE:SN)

SharkNinja, Inc. (NYSE:SN) saw unusually large options trading activity on Monday. Stock investors bought 37,860 put options on the company. This is an increase of 2,570% compared to the average volume of 1,418 put options.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SN shares. Canaccord Genuity Group boosted their price objective on shares of SharkNinja from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. The Goldman Sachs Group boosted their price objective on shares of SharkNinja from $102.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Bank of America upped their price target on shares of SharkNinja from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Oppenheimer started coverage on shares of SharkNinja in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $120.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of SharkNinja from $128.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, SharkNinja presently has an average rating of “Moderate Buy” and an average target price of $110.85.

SharkNinja Stock Up 2.1 %

Shares of SN traded up $1.85 during trading hours on Monday, reaching $90.97. The company’s stock had a trading volume of 1,247,769 shares, compared to its average volume of 1,163,196. The firm has a market cap of $12.73 billion, a price-to-earnings ratio of 34.95, a P/E/G ratio of 1.60 and a beta of 1.04. The company has a 50 day moving average of $103.41 and a two-hundred day moving average of $85.13. SharkNinja has a 1-year low of $41.12 and a 1-year high of $112.93. The company has a quick ratio of 1.04, a current ratio of 1.71 and a debt-to-equity ratio of 0.46.

SharkNinja (NYSE:SN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.17. SharkNinja had a return on equity of 33.74% and a net margin of 7.02%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.31 billion. SharkNinja’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 earnings per share. As a group, research analysts predict that SharkNinja will post 3.9 EPS for the current fiscal year.

Hedge Funds Weigh In On SharkNinja

Several hedge funds have recently added to or reduced their stakes in SN. Signaturefd LLC raised its position in shares of SharkNinja by 104.6% during the third quarter. Signaturefd LLC now owns 356 shares of the company’s stock worth $39,000 after purchasing an additional 182 shares during the period. Hollencrest Capital Management bought a new position in shares of SharkNinja in the third quarter valued at about $54,000. Waldron Private Wealth LLC bought a new position in shares of SharkNinja during the third quarter worth approximately $65,000. Headlands Technologies LLC acquired a new position in SharkNinja in the 1st quarter valued at $66,000. Finally, Picton Mahoney Asset Management bought a new position in SharkNinja during the 2nd quarter worth $70,000. Institutional investors own 34.77% of the company’s stock.

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.