Allspring Global Investments Holdings LLC Purchases 148,684 Shares of Sweetgreen, Inc. (NYSE:SG)

Allspring Global Investments Holdings LLC lifted its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 13.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,258,484 shares of the company's stock after purchasing an additional 148,684 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.10% of Sweetgreen worth $44,613,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Essex Investment Management Co. LLC grew its position in Sweetgreen by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company's stock worth $3,993,000 after purchasing an additional 314 shares in the last quarter. Evolutionary Tree Capital Management LLC grew its holdings in shares of Sweetgreen by 0.7% during the second quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company's stock valued at $1,982,000 after buying an additional 474 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Sweetgreen by 2.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company's stock worth $468,000 after acquiring an additional 830 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Sweetgreen by 11.7% in the 1st quarter. Principal Financial Group Inc. now owns 12,762 shares of the company's stock worth $322,000 after acquiring an additional 1,337 shares in the last quarter. Finally, Swiss National Bank boosted its position in Sweetgreen by 0.9% during the 1st quarter. Swiss National Bank now owns 176,600 shares of the company's stock worth $4,461,000 after acquiring an additional 1,500 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sweetgreen

In related news, insider Adrienne Gemperle sold 3,868 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $140,447.08. Following the completion of the transaction, the insider now owns 114,842 shares in the company, valued at $4,169,913.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jonathan Neman sold 17,020 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $35.08, for a total transaction of $597,061.60. Following the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $67,712,398.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adrienne Gemperle sold 3,868 shares of Sweetgreen stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $140,447.08. Following the completion of the transaction, the insider now owns 114,842 shares of the company's stock, valued at approximately $4,169,913.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 426,061 shares of company stock valued at $15,071,720. Company insiders own 21.52% of the company's stock.

Analysts Set New Price Targets

SG has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. UBS Group lifted their price objective on Sweetgreen from $31.00 to $37.00 and gave the company a "buy" rating in a research report on Friday, August 9th. TD Cowen reaffirmed a "buy" rating and issued a $43.00 target price on shares of Sweetgreen in a research report on Friday, September 27th. Citigroup lifted their price target on Sweetgreen from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, August 9th. Finally, Piper Sandler restated a "neutral" rating and issued a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.20.

Sweetgreen Trading Down 0.2 %

SG traded down $0.07 on Wednesday, hitting $36.89. 1,731,599 shares of the stock traded hands, compared to its average volume of 2,822,399. The business has a fifty day moving average price of $34.54 and a two-hundred day moving average price of $29.96. The firm has a market capitalization of $4.18 billion, a PE ratio of -39.96 and a beta of 2.33. Sweetgreen, Inc. has a 52 week low of $8.64 and a 52 week high of $39.75.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The firm had revenue of $184.60 million for the quarter, compared to the consensus estimate of $180.79 million. During the same quarter in the prior year, the firm posted ($0.20) earnings per share. The business's revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities research analysts forecast that Sweetgreen, Inc. will post -0.75 EPS for the current fiscal year.

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.