First Watch Restaurant Group (NASDAQ:FWRG) Shares Unloaded Rep. Josh Gottheimer

Key Points

• Rep. Josh Gottheimer sold between $1,001 and $15,000 of First Watch (NASDAQ:FWRG) stock on March 5 through his Morgan Stanley account.
• Company insiders — including Matthew Eisenacher and CEO Christopher Tomasso — sold a total of 74,178 shares worth about $958,411 in the past three months, reducing insider ownership to roughly 6%.
• First Watch beat EPS estimates (reported $0.24 vs. $0.08 expected) and posted revenue up 20.2% year-over-year, yet the stock trades near recent lows (~$11.65); analysts hold a “Moderate Buy” consensus with a $19.75 average target.

Representative Josh Gottheimer (Democratic-New Jersey) recently sold shares of First Watch Restaurant Group, Inc. NASDAQ: FWRG. In a filing disclosed on April 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in First Watch Restaurant Group stock on March 5th. The trade occurred in the Representative's "MORGAN STANLEY - SELECT UMA ACCOUNT # 1" account.

Representative Josh Gottheimer also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of ENN Energy OTCMKTS: XNGSY on 3/24/2026.
• Sold $1,001 - $15,000 in shares of Crown Castle NYSE: CCI on 3/24/2026.
• Purchased $1,001 - $15,000 in shares of Fabrinet NYSE: FN on 3/24/2026.
• Sold $1,001 - $15,000 in shares of Intapp NASDAQ: INTA on 3/12/2026.
• Sold $1,001 - $15,000 in shares of Alcon NYSE: ALC on 3/12/2026.
• Sold $1,001 - $15,000 in shares of La-Z-Boy NYSE: LZB on 3/12/2026.
• Sold $1,001 - $15,000 in shares of HDFC Bank NYSE: HDB on 3/12/2026.
• Sold $1,001 - $15,000 in shares of Infineon Technologies OTCMKTS: IFNNY on 3/12/2026.
• Purchased $1,001 - $15,000 in shares of SEA NYSE: SE on 3/10/2026.
• Purchased $1,001 - $15,000 in shares of ServiceNow NYSE: NOW on 3/6/2026.

First Watch Restaurant Group Price Performance

Shares of FWRG opened at $11.65 on Friday. The business's 50-day moving average is $13.34 and its two-hundred day moving average is $15.48. The company has a market capitalization of $712.26 million, a P/E ratio of 37.58, a P/E/G ratio of 2.24 and a beta of 0.98. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.25 and a current ratio of 0.29. First Watch Restaurant Group, Inc. has a fifty-two week low of $10.09 and a fifty-two week high of $20.55.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last posted its earnings results on Tuesday, February 24th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.16. First Watch Restaurant Group had a net margin of 1.59% and a return on equity of 3.20%. The business had revenue of $316.35 million for the quarter, compared to analyst estimates of $317.49 million. During the same period in the prior year, the company posted $0.01 EPS. The company's revenue for the quarter was up 20.2% on a year-over-year basis. Research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Insider Transactions at First Watch Restaurant Group

In related news, insider Matthew Eisenacher sold 6,070 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $12.59, for a total value of $76,421.30. Following the transaction, the insider directly owned 69,983 shares of the company's stock, valued at approximately $881,085.97. This trade represents a 7.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Anthony Tomasso sold 25,062 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $12.52, for a total transaction of $313,776.24. Following the completion of the transaction, the chief executive officer directly owned 957,315 shares in the company, valued at $11,985,583.80. This trade represents a 2.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 74,178 shares of company stock worth $958,411 in the last three months. 6.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FWRG. Woodline Partners LP purchased a new position in First Watch Restaurant Group in the 3rd quarter valued at about $20,318,000. The Manufacturers Life Insurance Company lifted its stake in First Watch Restaurant Group by 51.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,335,883 shares of the company's stock valued at $37,468,000 after buying an additional 796,191 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in First Watch Restaurant Group by 2,796.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 813,051 shares of the company's stock valued at $12,716,000 after buying an additional 784,979 shares in the last quarter. Fred Alger Management LLC lifted its stake in First Watch Restaurant Group by 183.9% in the 4th quarter. Fred Alger Management LLC now owns 1,036,560 shares of the company's stock valued at $15,631,000 after buying an additional 671,455 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in First Watch Restaurant Group by 2,382.9% in the 3rd quarter. Millennium Management LLC now owns 696,053 shares of the company's stock valued at $10,886,000 after buying an additional 668,019 shares in the last quarter. 96.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FWRG. TD Cowen lowered their target price on shares of First Watch Restaurant Group from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, February 24th. Barclays lowered their target price on shares of First Watch Restaurant Group from $19.00 to $17.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. DA Davidson began coverage on shares of First Watch Restaurant Group in a research note on Friday, March 6th. They set a "buy" rating and a $17.00 target price on the stock. Citigroup lowered their target price on shares of First Watch Restaurant Group from $26.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. Finally, Zacks Research raised shares of First Watch Restaurant Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.75.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey's 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2027. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey's 5th Congressional District. He declared candidacy for the 2026 election. Gottheimer is also running for election for Governor of New Jersey. He declared candidacy for the Democratic primary scheduled on June 10, 2025. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About First Watch Restaurant Group

First Watch Restaurant Group, Inc NASDAQ: FWRG operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company's casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.

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