Moloney Securities Asset Management LLC Invests $256,000 in Sweetgreen, Inc. (NYSE:SG)

Moloney Securities Asset Management LLC acquired a new position in shares of Sweetgreen, Inc. (NYSE:SG) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 8,500 shares of the company’s stock, valued at approximately $256,000.

Other institutional investors have also bought and sold shares of the company. Boulder Hill Capital Management LP acquired a new stake in Sweetgreen in the 4th quarter valued at $868,000. Conrad N. Hilton Foundation acquired a new stake in Sweetgreen in the 4th quarter valued at $434,000. Sei Investments Co. acquired a new stake in Sweetgreen in the 1st quarter valued at $1,110,000. Vanguard Group Inc. boosted its stake in Sweetgreen by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock valued at $94,361,000 after buying an additional 224,522 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Sweetgreen in the 1st quarter valued at $490,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analyst Weigh In

SG has been the topic of several recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Morgan Stanley lifted their price objective on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Citigroup lifted their price objective on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. William Blair reiterated an “outperform” rating on shares of Sweetgreen in a research report on Wednesday, May 15th. Finally, The Goldman Sachs Group initiated coverage on Sweetgreen in a research report on Thursday, June 13th. They issued a “buy” rating and a $39.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and an average price target of $37.00.

Insider Transactions at Sweetgreen

In other news, CEO Jonathan Neman sold 150,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the transaction, the chief executive officer now owns 2,100,000 shares in the company, valued at $64,050,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Nicolas Jammet sold 169,767 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,565.59. Following the transaction, the insider now owns 1,930,233 shares in the company, valued at $69,044,434.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jonathan Neman sold 150,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $30.50, for a total value of $4,575,000.00. Following the sale, the chief executive officer now directly owns 2,100,000 shares in the company, valued at approximately $64,050,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 521,116 shares of company stock worth $17,823,867. Company insiders own 21.52% of the company’s stock.

Sweetgreen Stock Down 0.1 %

NYSE:SG opened at $31.61 on Friday. The stock’s 50 day moving average price is $29.06 and its two-hundred day moving average price is $25.87. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -33.99 and a beta of 2.30. Sweetgreen, Inc. has a 12-month low of $8.64 and a 12-month high of $38.53.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $184.60 million during the quarter, compared to the consensus estimate of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. Sweetgreen’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.20) EPS. Equities research analysts expect that Sweetgreen, Inc. will post -0.75 EPS for the current year.

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.