Sweetgreen, Inc. $SG Shares Bought by PDT Partners LLC

Key Points

• PDT Partners LLC increased its holdings in Sweetgreen, Inc. by 148.3% during Q1, now owning approximately $6.38 million worth of shares.
• Sweetgreen reported a loss of ($0.20) EPS for the last quarter, missing estimates, with revenue of $185.58 million, slightly up from the previous year.
• Institutional investors now hold 95.75% of Sweetgreen's stock, reflecting strong institutional interest in the company.

PDT Partners LLC lifted its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 148.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,877 shares of the company's stock after buying an additional 152,212 shares during the quarter. PDT Partners LLC owned 0.22% of Sweetgreen worth $6,377,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its position in shares of Sweetgreen by 54.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock valued at $523,000 after acquiring an additional 5,783 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after acquiring an additional 494 shares during the period. Stifel Financial Corp boosted its position in shares of Sweetgreen by 55.3% in the 4th quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock worth $403,000 after buying an additional 4,474 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Sweetgreen by 9.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 86,162 shares of the company's stock worth $2,763,000 after buying an additional 7,214 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its position in shares of Sweetgreen by 108.9% in the 4th quarter. Tudor Investment Corp ET AL now owns 81,489 shares of the company's stock worth $2,613,000 after buying an additional 42,480 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Mitch Reback sold 11,530 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.19, for a total value of $105,960.70. Following the completion of the sale, the chief financial officer directly owned 322,891 shares of the company's stock, valued at $2,967,368.29. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 19.78% of the company's stock.

Sweetgreen Price Performance

NYSE SG traded down $0.17 on Thursday, reaching $8.74. The company had a trading volume of 4,679,533 shares, compared to its average volume of 4,856,588. The firm has a market capitalization of $1.03 billion, a PE ratio of -10.40 and a beta of 2.01. Sweetgreen, Inc. has a 1 year low of $8.45 and a 1 year high of $45.12. The firm has a 50-day moving average of $12.02 and a 200-day moving average of $16.64.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%.The company had revenue of $185.58 million during the quarter, compared to analysts' expectations of $193.47 million. During the same quarter in the prior year, the company earned ($0.13) EPS. The firm's revenue was up .5% compared to the same quarter last year. Sweetgreen has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SG shares. The Goldman Sachs Group decreased their price objective on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 4th. UBS Group cut their price target on Sweetgreen from $19.00 to $13.00 and set a "buy" rating for the company in a report on Friday, August 8th. Bank of America reduced their price objective on Sweetgreen from $27.00 to $22.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. JPMorgan Chase & Co. reduced their target price on shares of Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, June 25th. Finally, TD Cowen lowered their price target on shares of Sweetgreen from $15.00 to $10.00 and set a "hold" rating for the company in a report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Sweetgreen currently has a consensus rating of "Hold" and an average price target of $17.69.

About Sweetgreen

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.