15,835 Shares in Sweetgreen, Inc. (NYSE:SG) Acquired by Natixis Advisors LLC

Natixis Advisors LLC acquired a new position in Sweetgreen, Inc. (NYSE:SG) during the second quarter, HoldingsChannel.com reports. The fund acquired 15,835 shares of the company’s stock, valued at approximately $477,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SG. Lisanti Capital Growth LLC boosted its position in shares of Sweetgreen by 5.0% in the second quarter. Lisanti Capital Growth LLC now owns 147,800 shares of the company’s stock worth $4,455,000 after purchasing an additional 7,100 shares during the period. Commonwealth Equity Services LLC bought a new position in shares of Sweetgreen in the second quarter worth approximately $279,000. Moloney Securities Asset Management LLC bought a new position in shares of Sweetgreen in the second quarter worth approximately $256,000. Principal Financial Group Inc. boosted its position in shares of Sweetgreen by 1,610.4% during the second quarter. Principal Financial Group Inc. now owns 218,281 shares of the company’s stock worth $6,579,000 after acquiring an additional 205,519 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Sweetgreen by 64.4% during the second quarter. Panagora Asset Management Inc. now owns 297,327 shares of the company’s stock valued at $8,961,000 after purchasing an additional 116,459 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Up 1.9 %

Shares of Sweetgreen stock opened at $34.58 on Friday. The firm has a market capitalization of $3.95 billion, a P/E ratio of -37.18 and a beta of 2.32. The company has a 50 day moving average price of $29.45 and a 200 day moving average price of $27.08. Sweetgreen, Inc. has a 52 week low of $8.64 and a 52 week high of $38.53.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $184.60 million during the quarter, compared to analysts’ expectations of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.20) earnings per share. As a group, research analysts anticipate that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SG has been the topic of several recent analyst reports. Royal Bank of Canada increased their target price on shares of Sweetgreen from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. UBS Group increased their target price on shares of Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, August 9th. The Goldman Sachs Group began coverage on shares of Sweetgreen in a research note on Thursday, June 13th. They issued a “buy” rating and a $39.00 target price on the stock. Piper Sandler restated a “neutral” rating and issued a $39.00 price target (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Finally, Bank of America raised their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.20.

Insiders Place Their Bets

In other Sweetgreen news, insider Nathaniel Ru sold 9,250 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $28.74, for a total transaction of $265,845.00. Following the completion of the transaction, the insider now directly owns 1,952,129 shares of the company’s stock, valued at approximately $56,104,187.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jonathan Neman sold 7,400 shares of Sweetgreen stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $28.81, for a total transaction of $213,194.00. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $55,609,868.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nathaniel Ru sold 9,250 shares of Sweetgreen stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $28.74, for a total transaction of $265,845.00. Following the transaction, the insider now directly owns 1,952,129 shares of the company’s stock, valued at $56,104,187.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 387,766 shares of company stock valued at $13,727,906. 21.52% of the stock is owned by 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.