Cetera Investment Advisers Sells 11,919 Shares of Sweetgreen, Inc. (NYSE:SG)

Cetera Investment Advisers cut its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 15.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,437 shares of the company’s stock after selling 11,919 shares during the period. Cetera Investment Advisers owned about 0.06% of Sweetgreen worth $2,066,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SG. Janney Montgomery Scott LLC raised its stake in shares of Sweetgreen by 27.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 11,693 shares of the company’s stock worth $375,000 after purchasing an additional 2,488 shares during the period. Sachetta LLC raised its stake in shares of Sweetgreen by 37.6% during the 4th quarter. Sachetta LLC now owns 4,324 shares of the company’s stock worth $139,000 after purchasing an additional 1,182 shares during the period. KBC Group NV raised its stake in shares of Sweetgreen by 65.0% during the 4th quarter. KBC Group NV now owns 5,161 shares of the company’s stock worth $165,000 after purchasing an additional 2,034 shares during the period. Deepwater Asset Management LLC bought a new stake in shares of Sweetgreen during the 4th quarter worth $13,695,000. Finally, Calamos Advisors LLC raised its stake in shares of Sweetgreen by 16.5% during the 4th quarter. Calamos Advisors LLC now owns 79,815 shares of the company’s stock worth $2,559,000 after purchasing an additional 11,275 shares during the period. 95.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SG has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Morgan Stanley lowered their price objective on Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday, May 9th. UBS Group lowered their price objective on Sweetgreen from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. TD Securities restated a “buy” rating and issued a $25.00 price objective on shares of Sweetgreen in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. lowered their price objective on Sweetgreen from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, May 12th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Sweetgreen Stock Down 5.2%

SG stock opened at $14.25 on Tuesday. The stock has a 50-day simple moving average of $20.67 and a two-hundred day simple moving average of $28.45. The firm has a market capitalization of $1.67 billion, a PE ratio of -18.27 and a beta of 2.31. Sweetgreen, Inc. has a twelve month low of $14.23 and a twelve month high of $45.12.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, hitting the consensus estimate of ($0.21). The company had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $164.68 million. Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. Sweetgreen’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) earnings per share. On average, equities research analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Sweetgreen news, CFO Mitch Reback sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $21.07, for a total value of $84,280.00. Following the completion of the sale, the chief financial officer now owns 344,509 shares of the company’s stock, valued at $7,258,804.63. This represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nathaniel Ru sold 2,123 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the sale, the director now directly owns 1,785,099 shares of the company’s stock, valued at approximately $42,485,356.20. This represents a 0.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,014 shares of company stock worth $736,283. Insiders own 21.52% of the company’s stock.

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.