Virtu Financial LLC Invests $674,000 in Sweetgreen, Inc. $SG

Virtu Financial LLC purchased a new stake in Sweetgreen, Inc. (NYSE:SG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 99,643 shares of the company’s stock, valued at approximately $674,000.

Several other institutional investors have also made changes to their positions in SG. Larson Financial Group LLC grew its position in Sweetgreen by 165.8% during the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after buying an additional 2,349 shares in the last quarter. Certuity LLC raised its holdings in Sweetgreen by 0.8% in the 4th quarter. Certuity LLC now owns 302,500 shares of the company’s stock valued at $2,045,000 after acquiring an additional 2,500 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Sweetgreen by 18.7% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 17,202 shares of the company’s stock valued at $116,000 after acquiring an additional 2,715 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Sweetgreen by 26.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,362 shares of the company’s stock valued at $214,000 after acquiring an additional 2,987 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Sweetgreen by 124.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock worth $50,000 after purchasing an additional 3,484 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sweetgreen

In related news, major shareholder Goldman Sachs Group Inc purchased 594,553 shares of Sweetgreen stock in a transaction dated Tuesday, April 7th. The shares were bought at an average cost of $5.69 per share, for a total transaction of $3,383,006.57. Following the purchase, the insider owned 11,900,255 shares in the company, valued at approximately $67,712,450.95. This trade represents a 5.26% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.19% of the company’s stock.

Sweetgreen Stock Down 7.2%

Shares of SG stock opened at $8.32 on Tuesday. Sweetgreen, Inc. has a twelve month low of $4.49 and a twelve month high of $16.70. The company has a market cap of $989.14 million, a P/E ratio of 69.37 and a beta of 2.15. The business has a fifty day simple moving average of $7.84 and a 200 day simple moving average of $6.81.

Sweetgreen (NYSE:SG) last released its earnings results on Friday, May 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The business had revenue of $161.52 million during the quarter, compared to the consensus estimate of $163.94 million. Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.21) EPS. As a group, equities research analysts anticipate that Sweetgreen, Inc. will post -0.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SG shares. UBS Group raised their price target on Sweetgreen from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. DA Davidson increased their price objective on shares of Sweetgreen from $5.50 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Piper Sandler decreased their target price on shares of Sweetgreen from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. Weiss Ratings upgraded shares of Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Finally, Wolfe Research began coverage on shares of Sweetgreen in a report on Monday, March 9th. They set a “peer perform” rating for the company. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Sweetgreen presently has a consensus rating of “Hold” and a consensus price target of $8.04.

Sweetgreen Company Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.