State of New Jersey Common Pension Fund D Buys New Position in Sweetgreen, Inc. (NYSE:SG)

State of New Jersey Common Pension Fund D purchased a new stake in shares of Sweetgreen, Inc. (NYSE:SG) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 63,153 shares of the company’s stock, valued at approximately $1,903,000. State of New Jersey Common Pension Fund D owned about 0.06% of Sweetgreen as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in Sweetgreen during the 2nd quarter valued at about $76,000. Versor Investments LP purchased a new stake in shares of Sweetgreen in the second quarter worth about $217,000. Moloney Securities Asset Management LLC purchased a new stake in shares of Sweetgreen in the second quarter worth about $256,000. Perigon Wealth Management LLC purchased a new stake in shares of Sweetgreen in the first quarter worth about $223,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Sweetgreen in the second quarter worth about $279,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Insider Transactions at Sweetgreen

In other news, insider Nicolas Jammet sold 21,275 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $35.10, for a total transaction of $746,752.50. Following the completion of the transaction, the insider now directly owns 1,930,233 shares in the company, valued at $67,751,178.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CTO Wouleta Ayele sold 2,831 shares of Sweetgreen 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 transaction, the chief technology officer now directly owns 144,649 shares in the company, valued at $5,252,205.19. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicolas Jammet sold 21,275 shares of Sweetgreen stock in a transaction on Friday, September 13th. The shares were sold at an average price of $35.10, for a total value of $746,752.50. Following the completion of the transaction, the insider now owns 1,930,233 shares of the company’s stock, valued at $67,751,178.30. The disclosure for this sale can be found here. Insiders sold a total of 426,061 shares of company stock worth $15,071,720 over the last ninety days. Company insiders own 21.52% of the company’s stock.

Sweetgreen Stock Up 2.8 %

SG stock opened at $37.01 on Monday. The business has a fifty day moving average of $30.46 and a two-hundred day moving average of $27.87. The stock 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 52-week low of $8.64 and a 52-week high of $38.53.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (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 analyst estimates of $180.79 million. During the same period last year, the business earned ($0.20) EPS. Sweetgreen’s revenue was up 21.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Analyst Ratings Changes

SG has been the topic of a number of recent research reports. Royal Bank of Canada upped their target price on Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Bank of America increased their price target on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Citigroup increased their price target on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. TD Cowen upgraded Sweetgreen from a “hold” rating to a “buy” rating and increased their price target for the stock from $31.00 to $43.00 in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. increased their price target on Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.20.

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.