Calamos Advisors LLC Increases Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Calamos Advisors LLC raised its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 16.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,815 shares of the company's stock after acquiring an additional 11,275 shares during the period. Calamos Advisors LLC owned about 0.07% of Sweetgreen worth $2,559,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GLOBALT Investments LLC GA acquired a new position in shares of Sweetgreen during the third quarter worth approximately $591,000. Oliver Luxxe Assets LLC acquired a new position in shares of Sweetgreen during the third quarter worth approximately $1,973,000. Verition Fund Management LLC raised its position in shares of Sweetgreen by 189.6% during the third quarter. Verition Fund Management LLC now owns 173,501 shares of the company's stock worth $6,151,000 after purchasing an additional 113,586 shares during the period. Zweig DiMenna Associates LLC bought a new stake in Sweetgreen during the third quarter worth $3,329,000. Finally, Stephens Investment Management Group LLC grew its holdings in Sweetgreen by 139.9% during the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company's stock worth $33,299,000 after buying an additional 547,816 shares in the last quarter. Institutional investors own 95.75% of the company's stock.

Sweetgreen Stock Performance

SG stock traded down $1.42 during trading on Friday, reaching $29.30. The company had a trading volume of 2,885,714 shares, compared to its average volume of 2,506,635. The firm has a 50-day simple moving average of $33.78 and a 200-day simple moving average of $34.40. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -37.56 and a beta of 2.37. Sweetgreen, Inc. has a twelve month low of $10.93 and a twelve month high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.02). Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. The company had revenue of $173.43 million during the quarter, compared to analyst estimates of $173.67 million. During the same quarter last year, the business earned ($0.22) earnings per share. Sell-side analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SG shares. Oppenheimer reduced their price objective on Sweetgreen from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. KeyCorp assumed coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They set a "sector weight" rating on the stock. Citigroup upgraded shares of Sweetgreen from a "neutral" rating to a "buy" rating and increased their target price for the stock from $44.00 to $49.00 in a research note on Friday, January 10th. UBS Group increased their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $41.20.

Insider Activity

In related news, CEO Jonathan Neman sold 14,745 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.00, for a total value of $663,525.00. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company's stock, valued at approximately $86,860,260. The trade was a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Wouleta Ayele sold 4,347 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.05, for a total transaction of $148,015.35. Following the sale, the chief technology officer now directly owns 140,302 shares of the company's stock, valued at $4,777,283.10. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 608,877 shares of company stock valued at $23,466,012 in the last three months. 21.52% of the stock is currently owned by corporate insiders.

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.