Blair William & Co. IL Increases Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Blair William & Co. IL boosted its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 1,354.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 191,051 shares of the company’s stock after buying an additional 177,911 shares during the period. Blair William & Co. IL owned approximately 0.17% of Sweetgreen worth $5,758,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SG. Renaissance Technologies LLC bought a new position in Sweetgreen during the second quarter valued at $29,109,000. Dimensional Fund Advisors LP boosted its stake in shares of Sweetgreen by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock worth $53,151,000 after purchasing an additional 39,823 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Sweetgreen by 32.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 26,079 shares of the company’s stock valued at $786,000 after purchasing an additional 6,419 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new stake in Sweetgreen in the 2nd quarter worth about $233,000. Finally, Nicholas Investment Partners LP bought a new stake in Sweetgreen in the second quarter worth about $1,143,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Insider Transactions at Sweetgreen

In related news, insider Nicolas Jammet sold 21,275 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $35.10, for a total transaction of $746,752.50. Following the sale, the insider now owns 1,930,233 shares of the company’s stock, valued at $67,751,178.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Sweetgreen news, CTO Wouleta Ayele sold 2,831 shares of Sweetgreen stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $102,793.61. Following the transaction, the chief technology officer now directly owns 144,649 shares of the company’s stock, valued at $5,252,205.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicolas Jammet sold 21,275 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $35.10, for a total value of $746,752.50. Following the transaction, the insider now directly owns 1,930,233 shares in the company, valued at $67,751,178.30. The disclosure for this sale can be found here. In the last three months, insiders sold 426,061 shares of company stock valued at $15,071,720. Corporate insiders own 21.52% of the company’s stock.

Sweetgreen Stock Performance

NYSE:SG opened at $37.01 on Friday. The firm has a 50-day simple moving average of $30.46 and a 200-day simple moving average of $27.80. Sweetgreen, Inc. has a one year low of $8.64 and a one year high of $38.53. The firm has a market cap of $4.19 billion, a P/E ratio of -39.80 and a beta of 2.32.

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

Analyst Upgrades and Downgrades

SG has been the topic of a number of analyst reports. TD Cowen raised Sweetgreen from a “hold” rating to a “buy” rating and upped their target price for the company from $31.00 to $43.00 in a research note on Wednesday, September 4th. Oppenheimer increased their target price on Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and set a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Royal Bank of Canada raised their price target on shares of Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Finally, Morgan Stanley boosted their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Sweetgreen has an average rating of “Moderate Buy” and an average target price of $38.20.

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.