Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,516 Shares of Sweetgreen, Inc. (NYSE:SG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Sweetgreen, Inc. (NYSE:SG) by 9.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,103 shares of the company’s stock after purchasing an additional 2,516 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sweetgreen were worth $728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in SG. Headlands Technologies LLC increased its stake in Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after acquiring an additional 741 shares during the period. Tower Research Capital LLC TRC increased its stake in Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after acquiring an additional 494 shares during the period. Spire Wealth Management increased its stake in Sweetgreen by 47.1% during the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock worth $50,000 after acquiring an additional 635 shares during the period. Thematics Asset Management bought a new position in Sweetgreen during the 4th quarter worth $69,000. Finally, GF Fund Management CO. LTD. bought a new position in Sweetgreen during the 1st quarter worth $71,000. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Price Performance

NYSE:SG opened at $12.35 on Thursday. The company has a market cap of $1.45 billion, a P/E ratio of -16.03 and a beta of 2.04. The stock’s fifty day moving average price is $13.53 and its two-hundred day moving average price is $19.55. Sweetgreen, Inc. has a 1 year low of $11.84 and a 1 year high of $45.12.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.21). Sweetgreen had a negative return on equity of 19.72% and a negative net margin of 13.04%. The company had revenue of $166.30 million for the quarter, compared to the consensus estimate of $164.68 million. During the same quarter last year, the business posted ($0.23) earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SG shares. Bank of America reduced their target price on Sweetgreen from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 18th. JPMorgan Chase & Co. cut their price objective on Sweetgreen from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, June 25th. Wells Fargo & Company reissued an “overweight” rating and set a $19.00 price objective on shares of Sweetgreen in a report on Tuesday, July 1st. Oppenheimer cut their price objective on Sweetgreen from $35.00 to $29.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Finally, UBS Group set a $19.00 price objective on Sweetgreen and gave the company a “buy” rating in a report on Wednesday, July 30th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.46.

Insiders Place Their Bets

In other news, Director Clifford Burrows purchased 19,200 shares of the stock in a transaction on Friday, May 23rd. The shares were acquired at an average price of $13.11 per share, for a total transaction of $251,712.00. Following the completion of the transaction, the director directly owned 19,200 shares of the company’s stock, valued at approximately $251,712. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mitch Reback sold 10,088 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $15.23, for a total value of $153,640.24. Following the sale, the chief financial officer owned 334,421 shares in the company, valued at $5,093,231.83. The trade was a 2.93% decrease in their position. The disclosure for this sale can be found here. Company 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.