Pinnacle Investment Management Ltd Makes New Investment in Sweetgreen, Inc. $SG

Pinnacle Investment Management Ltd acquired a new position in Sweetgreen, Inc. (NYSE:SG) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 20,000 shares of the company’s stock, valued at approximately $298,000. Sweetgreen makes up 1.7% of Pinnacle Investment Management Ltd’s holdings, making the stock its 9th largest holding.

Other large investors have also recently modified their holdings of the company. Spire Wealth Management increased its holdings in shares of Sweetgreen by 47.1% in the first quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock worth $50,000 after buying an additional 635 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Sweetgreen in the first quarter worth about $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its holdings in shares of Sweetgreen by 70.8% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company’s stock worth $103,000 after buying an additional 1,700 shares during the period. LVW Advisors LLC purchased a new position in shares of Sweetgreen in the second quarter worth about $159,000. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Sweetgreen in the second quarter worth about $210,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Trading Up 1.2%

Shares of NYSE:SG opened at $8.08 on Thursday. Sweetgreen, Inc. has a 12 month low of $7.84 and a 12 month high of $45.12. The company has a 50-day moving average price of $9.78 and a 200 day moving average price of $14.57. The company has a market cap of $954.55 million, a price-to-earnings ratio of -9.61 and a beta of 1.97.

Sweetgreen (NYSE:SG) last announced its quarterly 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). Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The business had revenue of $185.58 million during the quarter, compared to the consensus estimate of $193.47 million. During the same period in the previous year, the business posted ($0.13) EPS. The firm’s revenue was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Insiders Place Their Bets

In related 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 value of $105,960.70. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SG. Wells Fargo & Company restated an “overweight” rating and set a $19.00 price target on shares of Sweetgreen in a report on Tuesday, July 1st. Piper Sandler dropped their price target on Sweetgreen from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 8th. TD Securities reaffirmed a “hold” rating and issued a $15.00 price objective (down from $25.00) on shares of Sweetgreen in a research report on Tuesday, July 1st. Barclays lowered their price objective on Sweetgreen from $17.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Friday, August 8th. Finally, TD Cowen decreased their target price on shares of Sweetgreen from $15.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, August 8th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Sweetgreen has an average rating of “Hold” and a consensus price target of $17.69.

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.