Baillie Gifford & Co. Sells 1,937,496 Shares of Sweetgreen, Inc. $SG

Baillie Gifford & Co. lessened its holdings in Sweetgreen, Inc. (NYSE:SG) by 14.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,060,194 shares of the company’s stock after selling 1,937,496 shares during the period. Baillie Gifford & Co. owned 9.36% of Sweetgreen worth $88,260,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SG. Glass Jacobson Investment Advisors llc bought a new position in Sweetgreen during the second quarter valued at about $30,000. Nisa Investment Advisors LLC increased its holdings in shares of Sweetgreen by 98.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock valued at $32,000 after acquiring an additional 1,055 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Sweetgreen by 312.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock valued at $42,000 after acquiring an additional 2,127 shares in the last quarter. Bogart Wealth LLC lifted its holdings in Sweetgreen by 1,150.0% in the 3rd quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock worth $40,000 after purchasing an additional 4,600 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in Sweetgreen during the third quarter worth approximately $82,000. 95.75% of the stock is currently owned by institutional investors.

Sweetgreen Stock Performance

Shares of SG opened at $7.18 on Friday. The company has a 50-day simple moving average of $6.95 and a 200-day simple moving average of $8.49. Sweetgreen, Inc. has a 52 week low of $5.14 and a 52 week high of $35.16. The firm has a market capitalization of $849.30 million, a P/E ratio of -7.40 and a beta of 1.93.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Friday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.13). Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.67%. The firm had revenue of $172.39 million for the quarter, compared to the consensus estimate of $179.29 million. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. The company’s revenue was down .6% on a year-over-year basis. As a group, equities analysts forecast that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SG. Barclays lifted their price target on shares of Sweetgreen from $5.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. UBS Group lowered shares of Sweetgreen from a “buy” rating to a “neutral” rating and set a $7.50 target price on the stock. in a research note on Tuesday, January 6th. Zacks Research raised shares of Sweetgreen from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Sanford C. Bernstein set a $7.00 price target on shares of Sweetgreen in a report on Wednesday, January 7th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $8.00 price objective on shares of Sweetgreen in a research note on Tuesday, December 9th. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Sweetgreen presently has an average rating of “Hold” and a consensus target price of $10.79.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman purchased 179,800 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were purchased at an average price of $5.56 per share, for a total transaction of $999,688.00. Following the completion of the purchase, the chief executive officer directly owned 179,800 shares of the company’s stock, valued at approximately $999,688. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicolas Jammet purchased 18,115 shares of the stock in a transaction on Wednesday, November 12th. The stock was acquired at an average cost of $5.51 per share, for a total transaction of $99,813.65. Following the acquisition, the insider directly owned 18,115 shares in the company, valued at approximately $99,813.65. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 19.78% of the stock is owned by company insiders.

Sweetgreen Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.