Deutsche Bank AG Has $3.66 Million Stock Holdings in Sweetgreen, Inc. $SG

Deutsche Bank AG trimmed its holdings in Sweetgreen, Inc. (NYSE:SG) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,273 shares of the company’s stock after selling 4,654 shares during the quarter. Deutsche Bank AG owned about 0.12% of Sweetgreen worth $3,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its stake in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after purchasing an additional 494 shares during the period. Spire Wealth Management lifted its stake in shares of Sweetgreen by 47.1% in the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock valued at $50,000 after purchasing an additional 635 shares during the period. Thematics Asset Management acquired a new position in shares of Sweetgreen in the 4th quarter valued at about $69,000. GF Fund Management CO. LTD. acquired a new position in shares of Sweetgreen in the 1st quarter valued at about $71,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its stake in shares of Sweetgreen by 70.8% in the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company’s stock valued at $103,000 after purchasing an additional 1,700 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Sweetgreen from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 25th. Piper Sandler dropped their price target on Sweetgreen from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. TD Securities reaffirmed a “hold” rating and set a $15.00 price target (down from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. Oppenheimer dropped their price target on Sweetgreen from $35.00 to $29.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Finally, TD Cowen dropped their price target on Sweetgreen from $15.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, August 8th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.69.

Sweetgreen Stock Up 1.0%

Shares of Sweetgreen stock opened at $9.28 on Tuesday. The company has a market cap of $1.10 billion, a PE ratio of -11.05 and a beta of 2.04. Sweetgreen, Inc. has a 52 week low of $8.80 and a 52 week high of $45.12. The business has a 50 day moving average price of $12.89 and a 200-day moving average price of $18.17.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.08). The company had revenue of $185.58 million during the quarter, compared to analysts’ expectations of $193.47 million. Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the company earned ($0.13) earnings per share. As a group, research analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Insider Activity at Sweetgreen

In related news, Director Clifford Burrows acquired 19,200 shares of the stock in a transaction dated Friday, May 23rd. The stock was purchased at an average cost of $13.11 per share, with a total value of $251,712.00. Following the completion of the purchase, the director directly owned 19,200 shares in the company, valued at $251,712. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.78% of the stock is currently owned by company insiders.

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.