Sandler Capital Management Makes New Investment in Sweetgreen, Inc. $SG

Key Points

• Sandler Capital Management has acquired a new stake in Sweetgreen, Inc. during the first quarter, purchasing 129,620 shares valued at approximately $3.24 million.
• Sweetgreen reported a quarterly revenue of $185.58 million, missing analysts' estimates of $193.47 million, along with a net margin of -14.29%.
• Several large investors, including Baillie Gifford & Co. and Wellington Management Group LLP, have increased their positions in Sweetgreen, indicating strong institutional interest in the company.

Sandler Capital Management bought a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 129,620 shares of the company's stock, valued at approximately $3,243,000. Sandler Capital Management owned approximately 0.11% of Sweetgreen at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SG. Tower Research Capital LLC TRC raised its position in Sweetgreen by 45.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after purchasing an additional 494 shares in the last quarter. Spire Wealth Management boosted its stake in Sweetgreen by 47.1% in the first quarter. Spire Wealth Management now owns 1,983 shares of the company's stock valued at $50,000 after buying an additional 635 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Sweetgreen in the first quarter valued at about $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its stake in Sweetgreen by 70.8% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company's stock worth $103,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Fund 1 Investments LLC acquired a new position in Sweetgreen during the fourth quarter worth about $140,000. Institutional investors and hedge funds own 95.75% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SG. TD Securities reiterated a "hold" rating and set a $15.00 price objective (down from $25.00) on shares of Sweetgreen in a research report on Tuesday, July 1st. Morgan Stanley dropped their price target on Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating for the company in a research note on Monday, July 14th. Bank of America dropped their price target on Sweetgreen from $27.00 to $22.00 and set a "buy" rating for the company in a research note on Friday, July 18th. JPMorgan Chase & Co. dropped their target price on Sweetgreen from $20.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, June 25th. Finally, Piper Sandler dropped their target price on Sweetgreen from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $17.69.

Sweetgreen Stock Performance

Shares of NYSE:SG remained flat at $8.69 during trading on Thursday. 4,859,551 shares of the stock were exchanged, compared to its average volume of 4,945,042. The business's 50 day moving average is $11.46 and its two-hundred day moving average is $16.11. Sweetgreen, Inc. has a 12 month low of $8.11 and a 12 month high of $45.12. The stock has a market capitalization of $1.03 billion, a PE ratio of -10.35 and a beta of 2.01.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.08). The business had revenue of $185.58 million during the quarter, compared to the consensus estimate of $193.47 million. Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%.The business's revenue was up .5% on a year-over-year basis. During the same period last year, the business posted ($0.13) earnings per share. Sweetgreen has set its FY 2025 guidance at EPS. As a group, research analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Insider Activity

In other news, CFO Mitch Reback sold 11,530 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.19, for a total transaction of $105,960.70. Following the transaction, the chief financial officer owned 322,891 shares of the company's stock, valued at $2,967,368.29. This represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 19.78% of the stock is owned by company insiders.

Sweetgreen Profile

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.