PDT Partners LLC Acquires 152,212 Shares of Sweetgreen, Inc. $SG

PDT Partners LLC boosted its position in Sweetgreen, Inc. (NYSE:SG) by 148.3% during the first quarter, Holdings Channel.com reports. The fund owned 254,877 shares of the company’s stock after acquiring an additional 152,212 shares during the period. PDT Partners LLC’s holdings in Sweetgreen were worth $6,377,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Durable Capital Partners LP lifted its position in Sweetgreen by 29.5% during the 1st quarter. Durable Capital Partners LP now owns 4,525,109 shares of the company’s stock valued at $113,218,000 after acquiring an additional 1,030,176 shares during the period. Maverick Capital Ltd. purchased a new position in shares of Sweetgreen during the first quarter valued at approximately $6,425,000. Royal Bank of Canada raised its holdings in shares of Sweetgreen by 22.4% during the first quarter. Royal Bank of Canada now owns 291,477 shares of the company’s stock valued at $7,292,000 after purchasing an additional 53,427 shares during the last quarter. Graham Capital Management L.P. raised its holdings in shares of Sweetgreen by 24.7% during the first quarter. Graham Capital Management L.P. now owns 129,793 shares of the company’s stock valued at $3,247,000 after purchasing an additional 25,671 shares during the last quarter. Finally, Kodai Capital Management LP purchased a new stake in Sweetgreen during the first quarter valued at approximately $9,302,000. Institutional investors own 95.75% of the company’s stock.

Insiders Place Their Bets

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.19, for a total value of $105,960.70. Following the sale, the chief financial officer directly owned 322,891 shares in the company, valued at $2,967,368.29. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on SG shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $19.00 price target on shares of Sweetgreen in a research report on Tuesday, July 1st. 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 research note on Wednesday, June 25th. TD Securities reaffirmed a “hold” rating and issued a $15.00 price target (down previously from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. The Goldman Sachs Group cut their target price 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. Finally, Piper Sandler lowered their price target on shares of Sweetgreen from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.69.

Sweetgreen Stock Down 1.8%

Sweetgreen stock opened at $9.09 on Monday. Sweetgreen, Inc. has a 52-week low of $8.45 and a 52-week high of $45.12. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -10.83 and a beta of 2.01. The company has a fifty day simple moving average of $12.26 and a 200-day simple moving average of $16.87.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results 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). Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The firm had revenue of $185.58 million for the quarter, compared to analyst estimates of $193.47 million. During the same period in the previous year, the firm posted ($0.13) EPS. The company’s revenue was up .5% compared to the same quarter last year. Sweetgreen has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

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.