8,393 Shares in Sweetgreen, Inc. (NYSE:SG) Bought by Diversified Trust Co

Diversified Trust Co bought a new stake in Sweetgreen, Inc. (NYSE:SG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,393 shares of the company’s stock, valued at approximately $298,000.

Other large investors have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Sweetgreen during the second quarter worth approximately $4,969,000. Cetera Investment Advisers grew its holdings in shares of Sweetgreen by 62.1% during the 2nd quarter. Cetera Investment Advisers now owns 55,354 shares of the company’s stock valued at $1,668,000 after purchasing an additional 21,203 shares during the last quarter. Algert Global LLC raised its position in Sweetgreen by 133.6% in the 2nd quarter. Algert Global LLC now owns 94,288 shares of the company’s stock worth $2,842,000 after purchasing an additional 53,928 shares during the period. Driehaus Capital Management LLC lifted its stake in Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after purchasing an additional 1,878,216 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Sweetgreen by 14.0% during the second quarter. The Manufacturers Life Insurance Company now owns 52,630 shares of the company’s stock valued at $1,586,000 after buying an additional 6,478 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Insider Activity

In other Sweetgreen news, CFO Mitch Reback sold 9,156 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $36.61, for a total value of $335,201.16. Following the completion of the transaction, the chief financial officer now owns 379,181 shares in the company, valued at approximately $13,881,816.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Mitch Reback sold 9,156 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $36.61, for a total transaction of $335,201.16. Following the sale, the chief financial officer now owns 379,181 shares of the company’s stock, valued at $13,881,816.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jonathan Neman sold 17,020 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $35.08, for a total transaction of $597,061.60. Following the transaction, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at $67,712,398.24. This represents a 0.00 % decrease in their position. 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 quarter. 21.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SG shares. UBS Group boosted their target price on Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Piper Sandler reissued a “neutral” rating and set a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. JPMorgan Chase & Co. raised their target price on shares of Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. TD Cowen reiterated a “buy” rating and set a $43.00 price target on shares of Sweetgreen in a report on Friday, September 27th. Finally, Oppenheimer raised their price target on shares of Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Sweetgreen Trading Up 4.1 %

NYSE:SG opened at $37.87 on Friday. The company has a 50-day moving average price of $33.46 and a 200-day moving average price of $29.29. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of -40.72 and a beta of 2.33. Sweetgreen, Inc. has a 12 month low of $8.64 and a 12 month high of $39.75.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company 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%. Sweetgreen’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.20) earnings per share. Equities analysts forecast that Sweetgreen, Inc. will post -0.75 EPS for the current fiscal year.

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.