SharkNinja slips after board chair's $638 mln share sale
21/08/2025 11:43
** Shares of home appliance maker SharkNinja SN.N down 2.6% before the bell at $116.50 after $638 mln secondary offering priced
** Needham, Massachusetts-based firm late Weds announced shareholders affiliated with board chairperson CJ Xuning Wang offloaded 5.5 mln shares at $116
** Offering size boosted from 5 mln shares and priced at 3% discount to stock's last sale
** JP Morgan and BofA joint lead bookrunners for offering
** SharkNinja was spun out of Hong Kong-listed parent JS Global Lifestyle 1691.HK in Jul 2023
** Sale by Wang, who is JS Global's CEO, reduces his SharkNinja holdings to ~55.4 mln shares, or about 39% stake, per the offering prospectus
** SharkNinja has ~141.1 mln shares, giving it $16.9 bln market cap
** Through Weds close, SN shares up ~23% YTD
** On Aug 7, SharkNinja posted Q2 sales and earnings beat, per LSEG data, and said it expects FY sales to grow 13%-15%, up from prior guidance of 11%-13%
** 10 of 11 analysts rate SN "strong buy" or "buy", 1 rates "hold" and median PT is $135, latest LSEG data reflects
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))