Divisadero Street Capital Management LP Invests $2.04 Million in Sweetgreen, Inc. $SG

Divisadero Street Capital Management LP bought a new stake in shares of Sweetgreen, Inc. (NYSE:SG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 255,244 shares of the company’s stock, valued at approximately $2,037,000. Divisadero Street Capital Management LP owned approximately 0.22% of Sweetgreen at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ grew its position in Sweetgreen by 312.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock worth $42,000 after acquiring an additional 2,127 shares in the last quarter. Bogart Wealth LLC raised its position in Sweetgreen by 1,150.0% during the third quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock valued at $40,000 after purchasing an additional 4,600 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Sweetgreen in the 3rd quarter valued at approximately $82,000. Birch Financial Group LLC bought a new stake in shares of Sweetgreen in the 3rd quarter valued at approximately $86,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Sweetgreen in the 2nd quarter worth approximately $179,000. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Performance

Shares of SG stock opened at $5.34 on Monday. The stock has a 50 day moving average price of $6.28 and a 200 day moving average price of $6.96. Sweetgreen, Inc. has a 52-week low of $4.99 and a 52-week high of $27.15. The firm has a market capitalization of $631.50 million, a P/E ratio of -4.68 and a beta of 1.93.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.11). Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The business had revenue of $155.19 million during the quarter, compared to the consensus estimate of $159.59 million. During the same period last year, the company earned ($0.25) EPS. The business’s revenue was down 3.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on SG. Sanford C. Bernstein set a $7.00 target price on Sweetgreen in a research report on Wednesday, January 7th. Royal Bank Of Canada dropped their price objective on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Barclays boosted their price objective on shares of Sweetgreen from $5.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Oppenheimer reduced their target price on shares of Sweetgreen from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Finally, The Goldman Sachs Group raised their target price on shares of Sweetgreen from $5.00 to $5.60 and gave the stock a “sell” rating in a report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.22.

Insider Activity at Sweetgreen

In related news, insider Nicolas Jammet purchased 4,428 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were purchased at an average cost of $5.71 per share, for a total transaction of $25,283.88. Following the completion of the acquisition, the insider owned 22,543 shares in the company, valued at approximately $128,720.53. This trade represents a 24.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 19.78% of the company’s stock.

Sweetgreen 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.