93,900 Shares in Sweetgreen, Inc. (NYSE:SG) Bought by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC purchased a new position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 93,900 shares of the company's stock, valued at approximately $3,329,000. Zweig DiMenna Associates LLC owned about 0.08% of Sweetgreen as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Oliver Luxxe Assets LLC acquired a new position in Sweetgreen during the third quarter valued at approximately $1,973,000. Sei Investments Co. acquired a new stake in shares of Sweetgreen in the 1st quarter valued at approximately $1,110,000. Vanguard Group Inc. grew its stake in shares of Sweetgreen by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company's stock valued at $94,361,000 after buying an additional 224,522 shares in the last quarter. Davidson Kempner Capital Management LP increased its holdings in Sweetgreen by 40.1% during the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company's stock worth $17,330,000 after buying an additional 164,600 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in Sweetgreen by 62.1% during the second quarter. Cetera Investment Advisers now owns 55,354 shares of the company's stock worth $1,668,000 after acquiring an additional 21,203 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Adrienne Gemperle sold 3,868 shares of the business's stock in a transaction dated Friday, August 16th. The stock was 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 $4,169,913.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Adrienne Gemperle sold 3,868 shares of Sweetgreen stock in a transaction that occurred 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 transaction, the insider now directly owns 114,842 shares of the company's stock, valued at $4,169,913.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mitch Reback sold 9,156 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $36.61, for a total transaction of $335,201.16. Following the transaction, the chief financial officer now owns 379,181 shares of the company's stock, valued at approximately $13,881,816.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 426,061 shares of company stock worth $15,071,720 in the last 90 days. Company insiders own 21.52% of the company's stock.

Sweetgreen Stock Up 2.3 %

Shares of Sweetgreen stock traded up $0.86 during trading on Friday, reaching $37.48. The company's stock had a trading volume of 4,423,982 shares, compared to its average volume of 2,822,411. The business's 50-day moving average price is $34.59 and its 200-day moving average price is $30.05. Sweetgreen, Inc. has a 52 week low of $8.64 and a 52 week high of $39.75. The firm has a market cap of $4.28 billion, a PE ratio of -44.66 and a beta of 2.33.

Sweetgreen (NYSE:SG - Get Free Report) last posted 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 business had revenue of $184.60 million during the quarter, compared to the consensus estimate of $180.79 million. During the same period in the prior year, the firm earned ($0.20) EPS. The business's revenue for the quarter was up 21.0% on a year-over-year basis. Equities analysts predict that Sweetgreen, Inc. will post -0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

SG has been the subject of a number of analyst reports. UBS Group lifted their price objective on shares of Sweetgreen from $31.00 to $37.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Bank of America boosted their price target on Sweetgreen from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, August 19th. Citigroup upped their price objective on Sweetgreen from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, August 9th. Oppenheimer lifted their target price on Sweetgreen from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday, August 15th. Finally, Piper Sandler restated a "neutral" rating and issued a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.20.

About Sweetgreen

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.