Thematics Asset Management Has $1.01 Million Holdings in Sweetgreen, Inc. $SG

Key Points

• Thematics Asset Management significantly increased its stake in Sweetgreen, Inc. by 1,776.8%, acquiring 38,237 additional shares, bringing its total holdings to 40,389 shares valued at over $1 million.
• Sweetgreen reported a quarterly loss of ($0.20) EPS, missing the consensus estimate by ($0.08), with revenue of $185.58 million, below expectations of $193.47 million.
• Analysts have lowered price targets for Sweetgreen, with Morgan Stanley reducing its target from $22 to $17, indicating a range of sentiment with a mix of Buy and Hold ratings among various research firms.

Thematics Asset Management lifted its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 1,776.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 40,389 shares of the company's stock after purchasing an additional 38,237 shares during the quarter. Thematics Asset Management's holdings in Sweetgreen were worth $1,011,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in Sweetgreen by 54.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock worth $523,000 after acquiring an additional 5,783 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Sweetgreen in the 4th quarter valued at $2,265,000. First Trust Advisors LP lifted its stake in Sweetgreen by 6.4% in the fourth quarter. First Trust Advisors LP now owns 252,938 shares of the company's stock valued at $8,109,000 after buying an additional 15,247 shares during the period. MetLife Investment Management LLC boosted its stake in Sweetgreen by 5.7% during the 4th quarter. MetLife Investment Management LLC now owns 60,444 shares of the company's stock worth $1,938,000 after acquiring an additional 3,265 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after buying an additional 494 shares during the period. 95.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SG has been the topic of several research analyst reports. Royal Bank Of Canada dropped their target price on shares of Sweetgreen from $25.00 to $13.00 and set an "outperform" rating on the stock 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 for the company in a report on Friday, July 18th. TD Securities restated a "hold" rating and set a $15.00 price objective (down previously from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. Oppenheimer dropped their price objective on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, 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. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $17.69.

Sweetgreen Stock Performance

Shares of NYSE SG traded down $0.17 during trading on Friday, hitting $9.09. 4,386,674 shares of the company traded hands, compared to its average volume of 7,227,332. The business's fifty day moving average is $12.26 and its 200 day moving average is $16.95. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -10.83 and a beta of 2.04. Sweetgreen, Inc. has a fifty-two week low of $8.45 and a fifty-two week high of $45.12.

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

Insider Buying and Selling at Sweetgreen

In other news, CFO Mitch Reback sold 11,530 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.19, for a total transaction of $105,960.70. Following the transaction, the chief financial officer directly owned 322,891 shares of the company's stock, valued at $2,967,368.29. This represents a 3.45% decrease in their ownership of the stock. The sale 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 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.