Cetera Investment Advisers Buys 21,203 Shares of Sweetgreen, Inc. (NYSE:SG)

Cetera Investment Advisers increased its position in shares of Sweetgreen, Inc. (NYSE:SG) by 62.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,354 shares of the company’s stock after purchasing an additional 21,203 shares during the quarter. Cetera Investment Advisers’ holdings in Sweetgreen were worth $1,668,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SG. Baillie Gifford & Co. raised its holdings in shares of Sweetgreen by 6.2% during the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after buying an additional 721,740 shares in the last quarter. Vanguard Group Inc. raised its stake in Sweetgreen by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock worth $212,713,000 after acquiring an additional 70,395 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 1,878,216 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sweetgreen by 2.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock valued at $53,151,000 after purchasing an additional 39,823 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its stake in shares of Sweetgreen by 42.6% in the 2nd quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company’s stock valued at $49,521,000 after purchasing an additional 490,806 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Stock Performance

NYSE:SG opened at $39.30 on Tuesday. The company has a market capitalization of $4.49 billion, a PE ratio of -47.93 and a beta of 2.33. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $39.75. The company has a 50 day simple moving average of $33.75 and a two-hundred day simple moving average of $29.45.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data 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). 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 during the quarter, compared to the consensus estimate of $180.79 million. During the same period last year, the business posted ($0.20) earnings per share. The business’s revenue was up 21.0% on a year-over-year basis. Research analysts predict that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Insider Buying and Selling at Sweetgreen

In other news, CTO Wouleta Ayele sold 2,831 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was 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 of the company’s stock, valued at $5,252,205.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jonathan Neman sold 169,772 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,744.44. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $69,044,255.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Wouleta Ayele sold 2,831 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $102,793.61. Following the transaction, the chief technology officer now owns 144,649 shares in the company, valued at approximately $5,252,205.19. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 426,061 shares of company stock valued at $15,071,720. Corporate insiders own 21.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group increased their price objective on shares of Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Bank of America raised their price objective on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Piper Sandler reaffirmed a “neutral” rating and issued a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Oppenheimer lifted their price target on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley upped their price objective on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.