Algert Global LLC Boosts Stake in Sweetgreen, Inc. (NYSE:SG)

Algert Global LLC grew its position in shares of Sweetgreen, Inc. (NYSE:SG) by 133.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 94,288 shares of the company’s stock after acquiring an additional 53,928 shares during the period. Algert Global LLC’s holdings in Sweetgreen were worth $2,842,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SG. Dimensional Fund Advisors LP grew its holdings in shares of Sweetgreen by 38.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock worth $19,549,000 after purchasing an additional 476,998 shares during the period. Armistice Capital LLC purchased a new position in Sweetgreen in the 4th quarter worth approximately $1,412,000. Teca Partners LP acquired a new stake in Sweetgreen in the fourth quarter valued at approximately $8,475,000. Verition Fund Management LLC purchased a new stake in shares of Sweetgreen during the fourth quarter valued at approximately $8,452,000. Finally, Conrad N. Hilton Foundation acquired a new position in shares of Sweetgreen during the fourth quarter worth $434,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 169,772 shares of Sweetgreen stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $69,044,255.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sweetgreen news, insider Adrienne Gemperle sold 3,868 shares of the firm’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 $140,447.08. Following the transaction, the insider now owns 114,842 shares of the company’s stock, valued at approximately $4,169,913.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jonathan Neman sold 169,772 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at $69,044,255.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 426,061 shares of company stock worth $15,071,720. Company insiders own 21.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SG shares. TD Cowen reaffirmed a “buy” rating and set a $43.00 price target on shares of Sweetgreen in a research note on Friday, September 27th. Morgan Stanley lifted their target price on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Royal Bank of Canada increased their price target on Sweetgreen from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Citigroup raised their price target on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price target on Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Sweetgreen Stock Down 1.6 %

SG opened at $34.89 on Wednesday. The company’s 50-day moving average price is $31.91 and its 200 day moving average price is $28.70. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $38.53. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of -37.52 and a beta of 2.32.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) 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 firm 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 posted ($0.20) EPS. The firm’s revenue was up 21.0% on a year-over-year basis. Research analysts anticipate that Sweetgreen, Inc. will post -0.75 earnings per share for the current year.

About Sweetgreen

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.