Sweetgreen, Inc. (NYSE:SG) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its position in shares of Sweetgreen, Inc. (NYSE:SG) by 71.5% during the third quarter, HoldingsChannel reports. The firm owned 19,740 shares of the company’s stock after selling 49,436 shares during the quarter. SG Americas Securities LLC’s holdings in Sweetgreen were worth $700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Sweetgreen in the second quarter valued at about $4,969,000. Cetera Investment Advisers boosted its stake in shares of Sweetgreen by 62.1% during the 2nd quarter. Cetera Investment Advisers now owns 55,354 shares of the company’s stock valued at $1,668,000 after buying an additional 21,203 shares during the last quarter. Algert Global LLC grew its position in shares of Sweetgreen by 133.6% during the second quarter. Algert Global LLC now owns 94,288 shares of the company’s stock worth $2,842,000 after buying an additional 53,928 shares in the last quarter. Driehaus Capital Management LLC increased its stake in shares of Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after buying an additional 1,878,216 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Sweetgreen by 14.0% in the second quarter. The Manufacturers Life Insurance Company now owns 52,630 shares of the company’s stock worth $1,586,000 after buying an additional 6,478 shares during the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Sweetgreen Price Performance

Shares of NYSE SG opened at $37.88 on Monday. Sweetgreen, Inc. has a 1-year low of $8.64 and a 1-year high of $39.75. The firm has a market capitalization of $4.32 billion, a PE ratio of -46.19 and a beta of 2.33. The business’s fifty day moving average price is $33.46 and its two-hundred day moving average price is $29.35.

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

Analyst Upgrades and Downgrades

SG has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. UBS Group boosted their price objective on Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 9th. Piper Sandler reaffirmed a “neutral” rating and set a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Citigroup lifted their target price on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Finally, Oppenheimer upped their price target on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Insider Activity

In other news, CTO Wouleta Ayele sold 2,831 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $102,793.61. Following the completion of the transaction, the chief technology officer now owns 144,649 shares of the company’s stock, valued at approximately $5,252,205.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Jonathan Neman sold 169,772 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at $69,044,255.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Wouleta Ayele sold 2,831 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $102,793.61. Following the completion of the sale, the chief technology officer now owns 144,649 shares of the company’s stock, valued at $5,252,205.19. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 426,061 shares of company stock valued at $15,071,720. Insiders own 21.52% of the company’s stock.

About Sweetgreen

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.