Yarra Square Partners LP Has $4.24 Million Position in Sweetgreen, Inc. (NYSE:SG)

Yarra Square Partners LP cut its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 13.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,500 shares of the company’s stock after selling 22,500 shares during the quarter. Sweetgreen comprises 3.8% of Yarra Square Partners LP’s portfolio, making the stock its 12th biggest holding. Yarra Square Partners LP’s holdings in Sweetgreen were worth $4,235,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Boulder Hill Capital Management LP acquired a new position in shares of Sweetgreen during the 4th quarter worth approximately $868,000. Conrad N. Hilton Foundation acquired a new position in Sweetgreen in the 4th quarter valued at $434,000. Sei Investments Co. acquired a new position in Sweetgreen in the 1st quarter valued at $1,110,000. Vanguard Group Inc. grew its holdings in Sweetgreen by 2.8% in the 4th 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. Finally, Quantbot Technologies LP acquired a new position in Sweetgreen in the 1st quarter valued at $490,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Stock Performance

NYSE:SG opened at $37.01 on Friday. The stock has a fifty day moving average price of $30.46 and a 200-day moving average price of $27.80. The company has a market cap of $4.19 billion, a price-to-earnings ratio of -39.80 and a beta of 2.32. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $38.53.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share 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 quarter in the prior year, the company earned ($0.20) earnings per share. Sweetgreen’s quarterly revenue was up 21.0% compared to the same quarter last year. Research analysts predict that Sweetgreen, Inc. will post -0.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on SG shares. Bank of America upped their price objective on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a 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 report on Friday, August 9th. UBS Group upped their price objective on Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada upped their price objective on Sweetgreen from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Finally, JPMorgan Chase & Co. upped their target price on Sweetgreen from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Insider Buying and Selling

In related news, CTO Wouleta Ayele sold 2,831 shares of the company’s stock in a transaction on Friday, August 16th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through this link. In related news, CTO Wouleta Ayele sold 2,831 shares of the company’s stock in a transaction on Friday, August 16th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Adrienne Gemperle sold 3,868 shares of the stock in a transaction dated 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 $4,169,913.02. The disclosure for this sale can be found here. Insiders sold a total of 426,061 shares of company stock worth $15,071,720 in the last ninety days. 21.52% of the stock is owned by insiders.

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.