Forum Financial Management LP Has $208,000 Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Forum Financial Management LP lessened its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 31.1% in the second quarter, Holdings Channel.com reports. The fund owned 6,903 shares of the company’s stock after selling 3,118 shares during the quarter. Forum Financial Management LP’s holdings in Sweetgreen were worth $208,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Quest Partners LLC bought a new position in shares of Sweetgreen during the fourth quarter worth $104,000. Triumph Capital Management bought a new position in shares of Sweetgreen during the fourth quarter worth $126,000. Handelsbanken Fonder AB bought a new position in shares of Sweetgreen during the fourth quarter worth $137,000. Perigon Wealth Management LLC bought a new position in shares of Sweetgreen during the first quarter worth $223,000. Finally, Entropy Technologies LP bought a new position in shares of Sweetgreen during the first quarter worth $279,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analyst Weigh In

SG has been the topic of a number of recent analyst reports. Citigroup lifted their price target on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Bank of America lifted their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. lifted their price target on shares of Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Royal Bank of Canada lifted their price target on shares of Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Finally, Oppenheimer boosted their price objective on shares of Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Insiders Place Their Bets

In other Sweetgreen news, insider Adrienne Gemperle sold 3,868 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $36.31, for a total transaction of $140,447.08. Following the sale, the insider now directly owns 114,842 shares of the company’s stock, valued at approximately $4,169,913.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Sweetgreen news, insider Adrienne Gemperle sold 3,868 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $36.31, for a total transaction of $140,447.08. Following the sale, the insider now directly owns 114,842 shares of the company’s stock, valued at approximately $4,169,913.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan Neman sold 150,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the transaction, the chief executive officer now owns 2,100,000 shares in the company, valued at $64,050,000. The disclosure for this sale can be found here. Insiders have sold 521,116 shares of company stock valued at $17,823,867 in the last three months. 21.52% of the stock is currently owned by corporate insiders.

Sweetgreen Stock Down 0.1 %

SG opened at $31.61 on Friday. The firm’s fifty day simple moving average is $29.06 and its 200 day simple moving average is $25.87. Sweetgreen, Inc. has a 12 month low of $8.64 and a 12 month high of $38.53.

Sweetgreen (NYSE:SG) last issued 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 return on equity of 19.34% and a negative net margin of 14.33%. The business had revenue of $184.60 million for the quarter, compared to the consensus estimate of $180.79 million. During the same period last year, the firm earned ($0.20) earnings per share. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, research analysts predict that Sweetgreen, Inc. will post -0.75 earnings per share for the current year.

Sweetgreen 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.