SG Americas Securities LLC Acquires 9,352 Shares of Sweetgreen, Inc. $SG

SG Americas Securities LLC increased its stake in Sweetgreen, Inc. (NYSE:SG) by 115.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 17,463 shares of the company’s stock after purchasing an additional 9,352 shares during the quarter. SG Americas Securities LLC’s holdings in Sweetgreen were worth $260,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SG. Cetera Investment Advisers grew its holdings in Sweetgreen by 10.6% in the first quarter. Cetera Investment Advisers now owns 71,250 shares of the company’s stock worth $1,783,000 after purchasing an additional 6,813 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sweetgreen by 9.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,103 shares of the company’s stock worth $728,000 after purchasing an additional 2,516 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Sweetgreen during the 1st quarter worth about $852,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its stake in shares of Sweetgreen by 70.8% in the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company’s stock valued at $103,000 after buying an additional 1,700 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of Sweetgreen by 58.3% in the 1st quarter. Blair William & Co. IL now owns 116,776 shares of the company’s stock valued at $2,922,000 after buying an additional 42,988 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

Insider Activity at Sweetgreen

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

Sweetgreen Price Performance

NYSE SG opened at $6.50 on Monday. The company has a fifty day moving average price of $7.07 and a 200-day moving average price of $10.27. The firm has a market cap of $769.41 million, a price-to-earnings ratio of -6.70 and a beta of 1.93. Sweetgreen, Inc. has a 1 year low of $5.14 and a 1 year high of $42.87.

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

Analysts Set New Price Targets

SG has been the topic of a number of research reports. UBS Group dropped their price target on Sweetgreen from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. TD Cowen decreased their price target on shares of Sweetgreen from $15.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, August 8th. Royal Bank Of Canada dropped their price objective on shares of Sweetgreen from $13.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Morgan Stanley set a $10.00 target price on shares of Sweetgreen in a research report on Tuesday, October 21st. Finally, The Goldman Sachs Group lowered shares of Sweetgreen from a “buy” rating to a “sell” rating and set a $5.00 target price on the stock. in a report on Friday, November 7th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Sweetgreen currently has a consensus rating of “Hold” and an average target price of $11.82.

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.