Arizona State Retirement System Acquires Shares of 13,640 Sweetgreen, Inc. (NYSE:SG)

Arizona State Retirement System bought a new position in Sweetgreen, Inc. (NYSE:SG – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,640 shares of the company’s stock, valued at approximately $117,000.

Several other large investors also recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System acquired a new stake in Sweetgreen during the 4th quarter valued at $167,000. Column Capital Advisors LLC acquired a new position in Sweetgreen during the fourth quarter worth $1,461,000. Ibex Investors LLC bought a new position in Sweetgreen during the fourth quarter worth about $514,000. AM Investment Strategies LLC acquired a new stake in Sweetgreen during the 4th quarter valued at $426,000. Finally, ProShare Advisors LLC bought a new position in Sweetgreen during the 4th quarter worth $98,000. 84.30% of the stock is owned by institutional investors.

Sweetgreen Trading Down 3.5 %

NYSE:SG opened at $9.31 on Friday. The stock has a 50-day moving average price of $7.98 and a 200 day moving average price of $9.42. Sweetgreen, Inc. has a 12-month low of $6.10 and a 12-month high of $21.66. The stock has a market capitalization of $1.04 billion, a P/E ratio of -6.08 and a beta of 1.61.

Sweetgreen (NYSE:SG – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.07. Sweetgreen had a negative return on equity of 28.08% and a negative net margin of 34.58%. The company had revenue of $125.06 million during the quarter, compared to analyst estimates of $125.57 million. On average, research analysts predict that Sweetgreen, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, insider Nicolas Jammet sold 195,745 shares of the stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $7.45, for a total transaction of $1,458,300.25. Following the completion of the sale, the insider now directly owns 2,100,000 shares of the company’s stock, valued at $15,645,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Sweetgreen news, SVP Daniel Shlossman sold 3,864 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $9.46, for a total transaction of $36,553.44. Following the completion of the transaction, the senior vice president now owns 236,547 shares of the company’s stock, valued at $2,237,734.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicolas Jammet sold 195,745 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $7.45, for a total value of $1,458,300.25. Following the completion of the transaction, the insider now owns 2,100,000 shares of the company’s stock, valued at $15,645,000. The disclosure for this sale can be found here. Insiders sold a total of 219,038 shares of company stock valued at $1,679,508 in the last ninety days. Corporate insiders own 22.03% of the company’s stock.

Wall Street Analyst Weigh In

SG has been the subject of a number of research reports. Bank of America dropped their price objective on shares of Sweetgreen from $11.00 to $9.00 in a report on Tuesday, May 2nd. Cowen lowered Sweetgreen from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $19.00 to $12.00 in a report on Tuesday, February 7th. Citigroup cut their price target on shares of Sweetgreen from $10.00 to $9.00 in a report on Monday, April 24th. Finally, Cowen decreased their price objective on Sweetgreen from $12.00 to $10.00 and set a “market perform” rating for the company in a report on Friday, February 24th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.67.

Sweetgreen Profile

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Sweetgreen, Inc, together with its subsidiaries, develops and operates fast-casual restaurants serving healthy foods prepared from seasonal and organic ingredients. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that can be redeemed in its restaurants.