Shake Shack Inc. (NYSE:SHAK) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. reduced its position in Shake Shack Inc. (NYSE:SHAK) by 8.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,165 shares of the company’s stock after selling 107 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Shake Shack were worth $120,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of SHAK. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Shake Shack in the 3rd quarter valued at approximately $39,677,000. Marshall Wace LLP raised its position in Shake Shack by 101.2% in the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after acquiring an additional 273,822 shares in the last quarter. Armistice Capital LLC lifted its holdings in Shake Shack by 69.1% in the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock valued at $52,191,000 after acquiring an additional 236,950 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Shake Shack by 471.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 255,374 shares of the company’s stock worth $22,984,000 after purchasing an additional 210,717 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Shake Shack by 41.9% during the 2nd quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock worth $39,384,000 after purchasing an additional 129,200 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction of $33,361.53. Following the completion of the transaction, the chief financial officer now owns 36,180 shares of the company’s stock, valued at $3,760,187.40. This represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the transaction, the director now owns 407,646 shares in the company, valued at approximately $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,112 shares of company stock valued at $7,623,215 in the last quarter. 9.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on SHAK shares. Truist Financial raised their price objective on shares of Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $102.00 price target (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $121.00 to $114.00 in a report on Monday, August 19th. Barclays lifted their price objective on Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Oppenheimer boosted their target price on Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $112.94.

Shake Shack Trading Up 3.2 %

Shares of SHAK stock opened at $137.64 on Friday. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 809.65, a PEG ratio of 2.85 and a beta of 1.85. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $118.79 and a 200 day moving average price of $103.27. Shake Shack Inc. has a twelve month low of $60.84 and a twelve month high of $138.60.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 earnings per share. Research analysts forecast that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal year.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.