Sweetgreen, Inc. (NYSE:SG) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in Sweetgreen, Inc. (NYSE:SG) by 49.1% in the second quarter, HoldingsChannel reports. The firm owned 26,218 shares of the company’s stock after acquiring an additional 8,634 shares during the quarter. ProShare Advisors LLC’s holdings in Sweetgreen were worth $790,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quest Partners LLC purchased a new position in shares of Sweetgreen in the 2nd quarter valued at about $76,000. Versor Investments LP acquired a new stake in Sweetgreen in the second quarter valued at approximately $217,000. Perigon Wealth Management LLC purchased a new position in Sweetgreen in the first quarter worth approximately $223,000. Thoroughbred Financial Services LLC acquired a new position in Sweetgreen during the 2nd quarter worth approximately $233,000. Finally, Nkcfo LLC purchased a new stake in shares of Sweetgreen in the 2nd quarter valued at approximately $241,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Trading Up 2.9 %

Sweetgreen stock opened at $35.95 on Friday. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -38.66 and a beta of 2.32. The stock has a 50 day moving average of $31.52 and a two-hundred day moving average of $28.46. Sweetgreen, Inc. has a twelve month low of $8.64 and a twelve month high of $38.53.

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

Analysts Set New Price Targets

A number of brokerages recently commented on SG. Oppenheimer boosted their target price on shares of Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. TD Cowen reiterated a “buy” rating and issued a $43.00 price objective on shares of Sweetgreen in a report on Friday. The Goldman Sachs Group began coverage on Sweetgreen in a research note on Thursday, June 13th. They set a “buy” rating and a $39.00 target price for the company. Citigroup increased their price target on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, Morgan Stanley boosted their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Insider Activity

In other Sweetgreen news, CTO Wouleta Ayele sold 2,831 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $102,793.61. Following the completion of the sale, the chief technology officer now owns 144,649 shares of the company’s stock, valued at $5,252,205.19. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Sweetgreen news, CTO Wouleta Ayele sold 2,831 shares of the company’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 $102,793.61. Following the transaction, the chief technology officer now directly owns 144,649 shares in the company, valued at $5,252,205.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $140,447.08. Following the completion of the transaction, the insider now directly 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 have sold a total of 426,061 shares of company stock valued at $15,071,720 over the last quarter. Corporate insiders own 21.52% of the company’s stock.

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.