Sweetgreen, Inc. (NYSE:SG) Shares Bought by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC boosted its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 139.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 939,335 shares of the company's stock after purchasing an additional 547,816 shares during the quarter. Stephens Investment Management Group LLC owned about 0.82% of Sweetgreen worth $33,299,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Sweetgreen by 2.8% during 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 during the last quarter. Principal Financial Group Inc. lifted its position in Sweetgreen by 11.7% during the first quarter. Principal Financial Group Inc. now owns 12,762 shares of the company's stock valued at $322,000 after purchasing an additional 1,337 shares during the period. FORA Capital LLC bought a new position in Sweetgreen during the first quarter valued at approximately $1,175,000. Quantbot Technologies LP bought a new position in Sweetgreen during the first quarter valued at approximately $490,000. Finally, Yarra Square Partners LP bought a new position in Sweetgreen during the first quarter valued at approximately $4,117,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Price Performance

Shares of NYSE:SG traded up $1.93 during trading hours on Friday, hitting $38.03. The company's stock had a trading volume of 2,592,910 shares, compared to its average volume of 2,814,486. Sweetgreen, Inc. has a 52 week low of $8.64 and a 52 week high of $40.20. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of -44.01 and a beta of 2.33. The firm's fifty day moving average price is $34.86 and its 200 day moving average price is $30.55.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm posted ($0.20) EPS. The company's revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities research analysts predict that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler reiterated a "neutral" rating and issued a $39.00 price target (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. UBS Group increased their price objective on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Morgan Stanley increased their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Friday, August 9th. Citigroup increased their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, August 9th. Finally, TD Cowen reissued a "buy" rating and issued a $43.00 price objective on shares of Sweetgreen in a research note on Friday, September 27th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $38.20.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 169,772 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the sale, the chief executive officer now owns 1,930,228 shares of the company's stock, valued at approximately $69,044,255.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Sweetgreen news, CTO Wouleta Ayele sold 2,831 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 transaction of $102,793.61. Following the completion of the sale, the chief technology officer now directly owns 144,649 shares in the company, valued at approximately $5,252,205.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jonathan Neman sold 169,772 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares of the company's stock, valued at approximately $69,044,255.56. 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 428,334 shares of company stock valued at $15,162,663 in the last 90 days. Insiders own 21.52% of the company's stock.

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.