Wealth Enhancement Advisory Services LLC Buys 1,278 Shares of Sweetgreen, Inc. (NYSE:SG)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,191 shares of the company’s stock after buying an additional 1,278 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Sweetgreen were worth $936,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Sweetgreen in the fourth quarter worth $5,492,000. Forum Financial Management LP grew its stake in shares of Sweetgreen by 17.5% in the fourth quarter. Forum Financial Management LP now owns 8,112 shares of the company’s stock worth $260,000 after purchasing an additional 1,209 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Sweetgreen in the fourth quarter worth $395,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Sweetgreen by 18.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,552 shares of the company’s stock worth $7,263,000 after purchasing an additional 35,276 shares during the last quarter. Finally, Spyglass Capital Management LLC grew its stake in shares of Sweetgreen by 12.0% in the fourth quarter. Spyglass Capital Management LLC now owns 2,296,894 shares of the company’s stock worth $73,638,000 after purchasing an additional 246,283 shares during the last quarter. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Trading Down 0.4%

Shares of NYSE SG opened at $14.00 on Tuesday. The firm’s 50-day moving average price is $17.23 and its 200-day moving average price is $25.85. Sweetgreen, Inc. has a 1-year low of $12.37 and a 1-year high of $45.12. The firm has a market capitalization of $1.64 billion, a P/E ratio of -17.95 and a beta of 2.06.

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

Insider Activity

In related news, CEO Jonathan Neman sold 5,717 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the sale, the chief executive officer now owns 1,810,263 shares in the company, valued at $43,084,259.40. This represents a 0.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nathaniel Ru sold 2,123 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $50,527.40. Following the completion of the sale, the director now owns 1,785,099 shares in the company, valued at $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 90 days, insiders have sold 35,014 shares of company stock worth $736,283. Company insiders own 21.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Sweetgreen from $27.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Morgan Stanley reduced their price objective on shares of Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday, May 9th. JPMorgan Chase & Co. cut their price target on shares of Sweetgreen from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, May 12th. UBS Group cut their price target on shares of Sweetgreen from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Finally, TD Securities reaffirmed a “buy” rating and set a $25.00 price target on shares of Sweetgreen in a research report on Thursday, May 15th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Sweetgreen currently has an average rating of “Moderate Buy” and an average target price of $29.08.

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.