Sei Investments Co. Boosts Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Sei Investments Co. boosted its position in Sweetgreen, Inc. (NYSE:SG) by 368.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 205,790 shares of the company’s stock after purchasing an additional 161,843 shares during the period. Sei Investments Co. owned about 0.18% of Sweetgreen worth $6,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in shares of Sweetgreen by 2.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company’s stock worth $468,000 after purchasing an additional 830 shares during the period. Principal Financial Group Inc. grew its position in Sweetgreen by 11.7% during the first quarter. Principal Financial Group Inc. now owns 12,762 shares of the company’s stock worth $322,000 after buying an additional 1,337 shares during the period. Swiss National Bank increased its holdings in Sweetgreen by 0.9% in the first quarter. Swiss National Bank now owns 176,600 shares of the company’s stock valued at $4,461,000 after buying an additional 1,500 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Sweetgreen by 9.9% during the 1st quarter. ProShare Advisors LLC now owns 17,584 shares of the company’s stock valued at $444,000 after acquiring an additional 1,585 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Sweetgreen during the 2nd quarter worth approximately $76,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Wall Street Analyst Weigh In

SG has been the subject of several research analyst reports. Bank of America raised their price objective on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Citigroup lifted their price target on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. The Goldman Sachs Group started coverage on shares of Sweetgreen in a research note on Thursday, June 13th. They issued a “buy” rating and a $39.00 price objective on the stock. Royal Bank of Canada upped their price target on shares of Sweetgreen from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Finally, Morgan Stanley raised their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Insiders Place Their Bets

In other news, insider Adrienne Gemperle sold 3,868 shares of Sweetgreen stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $140,447.08. Following the transaction, the insider now directly owns 114,842 shares of the company’s stock, valued at approximately $4,169,913.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sweetgreen news, insider Nathaniel Ru sold 9,250 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $28.74, for a total transaction of $265,845.00. Following the transaction, the insider now owns 1,952,129 shares in the company, valued at $56,104,187.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Adrienne Gemperle sold 3,868 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $140,447.08. Following the completion of the sale, the insider now owns 114,842 shares of the company’s stock, valued at approximately $4,169,913.02. The disclosure for this sale can be found here. Insiders sold 426,061 shares of company stock worth $15,071,720 over the last three months. 21.52% of the stock is owned by insiders.

Sweetgreen Trading Down 1.4 %

Shares of NYSE:SG opened at $35.45 on Tuesday. Sweetgreen, Inc. has a 12-month low of $8.64 and a 12-month high of $38.53. The stock’s 50-day moving average price is $31.73 and its two-hundred day moving average price is $28.61. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of -38.12 and a beta of 2.32.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $184.60 million during the quarter, compared to analysts’ expectations of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. Sweetgreen’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. As a group, research analysts forecast that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Sweetgreen Company 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.