Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in Sweetgreen, Inc. (NYSE:SG)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Sweetgreen, Inc. (NYSE:SG) by 18.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,140 shares of the company’s stock after selling 3,334 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sweetgreen were worth $171,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SG. Bourgeon Capital Management LLC purchased a new position in shares of Sweetgreen during the third quarter valued at approximately $29,000. Clear Harbor Asset Management LLC bought a new position in Sweetgreen in the 4th quarter worth $113,000. Forum Financial Management LP raised its holdings in Sweetgreen by 12.6% in the 3rd quarter. Forum Financial Management LP now owns 11,262 shares of the company’s stock worth $132,000 after purchasing an additional 1,262 shares in the last quarter. Graham Capital Wealth Management LLC purchased a new stake in shares of Sweetgreen in the 4th quarter worth about $139,000. Finally, SG Americas Securities LLC bought a new stake in shares of Sweetgreen during the 3rd quarter valued at about $241,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SG. TD Cowen reissued a “hold” rating and issued a $17.00 price target on shares of Sweetgreen in a research note on Wednesday, April 10th. Oppenheimer increased their target price on Sweetgreen from $17.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Morgan Stanley lifted their price target on Sweetgreen from $11.00 to $16.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their price objective on Sweetgreen from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, Piper Sandler boosted their target price on shares of Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Sweetgreen Trading Up 2.2 %

Shares of NYSE:SG opened at $23.25 on Wednesday. The stock has a fifty day simple moving average of $21.68 and a two-hundred day simple moving average of $14.53. Sweetgreen, Inc. has a 12-month low of $8.64 and a 12-month high of $26.45. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -23.26 and a beta of 2.22.

Sweetgreen (NYSE:SG) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The company had revenue of $153.00 million during the quarter, compared to analysts’ expectations of $152.04 million. During the same period in the prior year, the firm earned ($0.44) EPS. Sweetgreen’s revenue for the quarter was up 29.0% compared to the same quarter last year. As a group, equities research analysts predict that Sweetgreen, Inc. will post -0.71 EPS for the current year.

Insider Transactions at Sweetgreen

In related news, insider Adrienne Gemperle sold 12,442 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $11.33, for a total transaction of $140,967.86. Following the completion of the sale, the insider now owns 127,251 shares of the company’s stock, valued at $1,441,753.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Sweetgreen news, CEO Jonathan Neman sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $11.55, for a total transaction of $57,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,100,000 shares in the company, valued at approximately $24,255,000. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Adrienne Gemperle sold 12,442 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $11.33, for a total value of $140,967.86. Following the transaction, the insider now directly owns 127,251 shares in the company, valued at $1,441,753.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,555 shares of company stock worth $2,214,389. Corporate insiders own 21.52% of the company’s stock.

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.