Sweetgreen, Inc. (NYSE:SG) Shares Purchased by Nicholas Investment Partners LP

Nicholas Investment Partners LP grew its holdings in Sweetgreen, Inc. (NYSE:SG) by 26.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,019 shares of the company’s stock after purchasing an additional 33,506 shares during the quarter. Nicholas Investment Partners LP owned about 0.14% of Sweetgreen worth $5,194,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC raised its position in Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after acquiring an additional 1,000 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after purchasing an additional 741 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Sweetgreen by 45.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after purchasing an additional 494 shares during the last quarter. Millstone Evans Group LLC bought a new stake in Sweetgreen during the fourth quarter valued at $53,000. Finally, Denver PWM LLC acquired a new stake in Sweetgreen in the fourth quarter worth $60,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Oppenheimer cut their price objective on Sweetgreen from $35.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, May 9th. TD Securities decreased their price target on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group lowered their price target on Sweetgreen from $27.00 to $23.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Sweetgreen from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sweetgreen currently has an average rating of “Moderate Buy” and a consensus price target of $31.73.

Insider Buying and Selling at Sweetgreen

In related news, CEO Jonathan Neman sold 5,717 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the transaction, the chief executive officer now directly owns 1,810,263 shares of the company’s stock, valued at approximately $43,084,259.40. The trade was a 0.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nathaniel Ru sold 2,123 shares of Sweetgreen stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the sale, the director now directly owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. The trade was a 0.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,852 shares of company stock worth $871,417. 21.52% of the stock is currently owned by insiders.

Sweetgreen Stock Up 0.8%

Shares of Sweetgreen stock opened at $15.77 on Wednesday. The company has a market cap of $1.85 billion, a PE ratio of -20.22 and a beta of 2.31. The business has a 50 day moving average price of $21.43 and a 200-day moving average price of $29.15. Sweetgreen, Inc. has a 52 week low of $14.61 and a 52 week high of $45.12.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.21). Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. The company had revenue of $166.30 million for the quarter, compared to analyst estimates of $164.68 million. During the same period in the previous year, the company posted ($0.23) EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that Sweetgreen, Inc. will post -0.74 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.