Creative Planning Purchases 4,364 Shares of Sweetgreen, Inc. (NYSE:SG)

Creative Planning increased its position in shares of Sweetgreen, Inc. (NYSE:SG) by 61.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,439 shares of the company’s stock after purchasing an additional 4,364 shares during the quarter. Creative Planning’s holdings in Sweetgreen were worth $406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SG. Quest Partners LLC bought a new position in shares of Sweetgreen in the second quarter worth about $76,000. Atomi Financial Group Inc. bought a new position in shares of Sweetgreen in the third quarter worth about $216,000. Versor Investments LP bought a new position in shares of Sweetgreen in the second quarter worth about $217,000. LVW Advisors LLC bought a new position in shares of Sweetgreen in the third quarter worth about $229,000. Finally, Thoroughbred Financial Services LLC bought a new position in shares of Sweetgreen in the second quarter worth about $233,000. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Up 1.4 %

Shares of SG opened at $42.24 on Friday. Sweetgreen, Inc. has a 12-month low of $8.64 and a 12-month high of $42.77. The business’s fifty day moving average is $35.22 and its 200 day moving average is $31.13. The stock has a market cap of $4.82 billion, a P/E ratio of -51.51 and a beta of 2.32.

Sweetgreen (NYSE:SG) last issued 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). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The firm had revenue of $184.60 million during the quarter, compared to the consensus estimate of $180.79 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. Sweetgreen’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, analysts expect that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Wall Street Analyst Weigh In

SG has been the subject of several recent research reports. TD Cowen reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Sweetgreen in a research note on Friday, September 27th. Oppenheimer upped their price objective on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. UBS Group upped their price objective on Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Bank of America upped 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. Finally, Morgan Stanley upped their price objective on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 169,772 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $69,044,255.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sweetgreen news, CFO Mitch Reback sold 9,156 shares of Sweetgreen stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.61, for a total transaction of $335,201.16. Following the completion of the transaction, the chief financial officer now owns 379,181 shares of the company’s stock, valued at $13,881,816.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jonathan Neman sold 169,772 shares of Sweetgreen stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,744.44. Following the transaction, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at $69,044,255.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 466,022 shares of company stock worth $16,671,481. 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.