SG Americas Securities LLC reduced its stake in shares of Sweetgreen, Inc. (NYSE:SG – Free Report) by 71.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,740 shares of the company’s stock after selling 49,436 shares during the quarter. SG Americas Securities LLC’s holdings in Sweetgreen were worth $700,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. acquired a new stake in shares of Sweetgreen in the 1st quarter worth approximately $1,110,000. Vanguard Group Inc. grew its holdings in Sweetgreen by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock valued at $94,361,000 after purchasing an additional 224,522 shares during the last quarter. Davidson Kempner Capital Management LP increased its position in shares of Sweetgreen by 40.1% in the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock valued at $17,330,000 after buying an additional 164,600 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Sweetgreen during the 1st quarter worth $490,000. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Sweetgreen in the 1st quarter worth about $3,554,000. 95.75% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
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 completion of the sale, the insider now owns 1,952,129 shares of the company’s stock, valued at approximately $56,104,187.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Wouleta Ayele sold 2,831 shares of Sweetgreen stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.31, for a total transaction of $102,793.61. Following the transaction, the chief technology officer now owns 144,649 shares in the company, valued at approximately $5,252,205.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nathaniel Ru sold 9,250 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $28.74, for a total value of $265,845.00. Following the completion of the sale, the insider now owns 1,952,129 shares of the company’s stock, valued at approximately $56,104,187.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 426,061 shares of company stock valued at $15,071,720. 21.52% of the stock is currently owned by company insiders.
Sweetgreen Price Performance
Sweetgreen (NYSE:SG – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $184.60 million for the quarter, compared to analyst estimates of $180.79 million. Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period last year, the company posted ($0.20) EPS. Equities research analysts anticipate that Sweetgreen, Inc. will post -0.75 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on SG shares. Bank of America raised their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Piper Sandler reaffirmed a “neutral” rating and issued a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Morgan Stanley raised their price target on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Citigroup upped their price objective on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Finally, UBS Group lifted their price objective on Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research report 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.20.
Read Our Latest Research Report on Sweetgreen
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.
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