Geode Capital Management LLC Has $36.03 Million Stock Position in Sweetgreen, Inc. $SG

Geode Capital Management LLC increased its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,420,856 shares of the company’s stock after acquiring an additional 54,538 shares during the quarter. Geode Capital Management LLC owned about 2.06% of Sweetgreen worth $36,027,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SG. Glass Jacobson Investment Advisors llc bought a new position in shares of Sweetgreen during the 2nd quarter worth about $30,000. Nisa Investment Advisors LLC grew its position in Sweetgreen by 98.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock worth $32,000 after buying an additional 1,055 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in Sweetgreen by 70.8% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company’s stock valued at $103,000 after acquiring an additional 1,700 shares during the period. LVW Advisors LLC bought a new position in Sweetgreen during the second quarter valued at about $159,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in Sweetgreen in the 2nd quarter valued at approximately $170,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SG has been the topic of a number of research reports. Piper Sandler lowered their price objective on Sweetgreen from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Sanford C. Bernstein set a $8.00 price target on shares of Sweetgreen in a report on Wednesday, October 22nd. Barclays reduced their price objective on shares of Sweetgreen from $8.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. Citigroup reiterated a “buy” rating on shares of Sweetgreen in a research report on Wednesday, November 12th. Finally, Wells Fargo & Company dropped their price target on shares of Sweetgreen from $13.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Sweetgreen presently has an average rating of “Hold” and an average price target of $11.82.

Sweetgreen Stock Down 3.4%

Shares of Sweetgreen stock opened at $6.63 on Thursday. Sweetgreen, Inc. has a 12-month low of $5.14 and a 12-month high of $43.52. The stock has a market capitalization of $784.20 million, a P/E ratio of -6.83 and a beta of 1.94. The company has a 50-day simple moving average of $7.15 and a 200 day simple moving average of $10.43.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Friday, November 7th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). The firm had revenue of $172.39 million during the quarter, compared to analyst estimates of $179.29 million. Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.67%. Sweetgreen’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) earnings per share. On average, equities analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling

In other Sweetgreen news, CEO Jonathan Neman purchased 179,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average cost of $5.56 per share, with a total value of $999,688.00. Following the acquisition, the chief executive officer directly owned 179,800 shares of the company’s stock, valued at approximately $999,688. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Nicolas Jammet acquired 18,115 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was acquired at an average price of $5.51 per share, with a total value of $99,813.65. Following the transaction, the insider owned 18,115 shares in the company, valued at approximately $99,813.65. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 19.78% of the stock is owned by corporate insiders.

Sweetgreen 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.