Sweetgreen, Inc. (NYSE:SG) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC lessened its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 320,922 shares of the company’s stock after selling 4,045 shares during the quarter. Pathstone Holdings LLC owned approximately 0.28% of Sweetgreen worth $10,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SG. Steward Partners Investment Advisory LLC raised its holdings in shares of Sweetgreen by 3,571.4% during the 4th 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 during the period. Headlands Technologies LLC raised its holdings in shares of Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after acquiring an additional 741 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after acquiring an additional 494 shares during the period. Millstone Evans Group LLC purchased a new position in shares of Sweetgreen during the 4th quarter worth $53,000. Finally, Denver PWM LLC purchased a new position in shares of Sweetgreen during the 4th quarter worth $60,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Price Performance

Shares of NYSE:SG opened at $15.27 on Friday. The firm has a market capitalization of $1.79 billion, a PE ratio of -19.58 and a beta of 2.31. The firm’s 50-day moving average is $21.09 and its two-hundred day moving average is $28.89. Sweetgreen, Inc. has a 1 year low of $14.61 and a 1 year high of $45.12.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.21). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. 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 prior year, the firm earned ($0.23) earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. TD Securities restated a “buy” rating and issued a $25.00 price objective on shares of Sweetgreen in a report on Thursday. Piper Sandler reduced their price objective on shares of Sweetgreen from $27.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Citigroup reduced their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group reduced their price objective on shares of Sweetgreen from $27.00 to $23.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Finally, UBS Group reduced their price objective on shares of Sweetgreen from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Sweetgreen currently has an average rating of “Moderate Buy” and an average target price of $31.00.

Insider Buying and Selling

In related news, CFO Mitch Reback sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $21.07, for a total value of $84,280.00. Following the completion of the transaction, the chief financial officer now directly owns 344,509 shares of the company’s stock, valued at $7,258,804.63. This represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jonathan Neman sold 5,717 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the completion of the transaction, the chief executive officer now directly owns 1,810,263 shares of the company’s stock, valued at $43,084,259.40. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,852 shares of company stock worth $871,417. Company insiders own 21.52% of the company’s stock.

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.