54,107 Shares in Sweetgreen, Inc. $SG Bought by Curated Wealth Partners LLC

Curated Wealth Partners LLC purchased a new stake in shares of Sweetgreen, Inc. (NYSE:SG) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 54,107 shares of the company’s stock, valued at approximately $480,000.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new stake in Sweetgreen in the 2nd quarter valued at $4,557,000. Bank of New York Mellon Corp purchased a new stake in shares of Sweetgreen during the second quarter valued at approximately $2,792,000. Granahan Investment Management LLC bought a new stake in Sweetgreen in the first quarter worth about $1,472,000. Quantinno Capital Management LP lifted its stake in Sweetgreen by 495.3% in the first quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock valued at $1,006,000 after purchasing an additional 161,209 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Sweetgreen in the 4th quarter worth about $674,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SG has been the subject of a number of research analyst reports. Weiss Ratings downgraded Sweetgreen from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. TD Cowen raised their target price on Sweetgreen from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, September 11th. Royal Bank Of Canada lifted their price objective on Sweetgreen from $6.50 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, September 29th. DA Davidson dropped their price target on shares of Sweetgreen from $7.00 to $5.50 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Finally, Morgan Stanley raised their price objective on shares of Sweetgreen from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Thursday. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sweetgreen presently has an average rating of “Hold” and a consensus target price of $7.66.

Insider Buying and Selling at Sweetgreen

In related news, COO Jason Miles Cochran sold 4,809 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.21, for a total value of $29,863.89. Following the sale, the chief operating officer owned 207,076 shares in the company, valued at approximately $1,285,941.96. The trade was a 2.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jamie McConnell sold 15,033 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.21, for a total value of $93,354.93. Following the completion of the sale, the chief financial officer directly owned 210,489 shares in the company, valued at $1,307,136.69. This represents a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.19% of the stock is owned by corporate insiders.

Sweetgreen Trading Down 5.0%

Shares of NYSE:SG opened at $10.07 on Friday. Sweetgreen, Inc. has a twelve month low of $4.49 and a twelve month high of $10.77. The company has a market cap of $1.20 billion, a PE ratio of 100.76 and a beta of 2.16. The company’s 50 day moving average is $7.58 and its 200 day moving average is $7.46.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.09). Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%. The company had revenue of $192.66 million for the quarter, compared to analyst estimates of $194.50 million. During the same period in the prior year, the business posted ($0.20) earnings per share. Sweetgreen’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts predict that Sweetgreen, Inc. will post -1.03 earnings per share for the current fiscal year.

Sweetgreen Profile

Sweetgreen, Inc operates a fast-casual restaurant chain focused on fresh, made-to-order meals. Its menu includes salads, warm grain bowls, protein plates, sides and beverages, with an emphasis on seasonal ingredients, customizable meals and health-conscious dining.

The company serves customers through company-operated restaurants in the United States, as well as digital channels that support online ordering, delivery, pickup and its loyalty program. Sweetgreen also uses technology in restaurant operations, including automated kitchen systems at select locations, to help improve consistency and service efficiency.

Sweetgreen was founded in 2007 by Nicolas Jammet, Jonathan Neman and Nathaniel Ru while they were students at Georgetown University.