Clear Harbor Asset Management LLC Takes $113,000 Position in Sweetgreen, Inc. (NYSE:SG)

Clear Harbor Asset Management LLC purchased a new stake in Sweetgreen, Inc. (NYSE:SGFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,000 shares of the company’s stock, valued at approximately $113,000.

Other institutional investors have also recently made changes to their positions in the company. Bourgeon Capital Management LLC bought a new position in shares of Sweetgreen in the 3rd quarter valued at about $29,000. Tower Research Capital LLC TRC lifted its holdings in shares of Sweetgreen by 394.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the company’s stock valued at $26,000 after acquiring an additional 2,586 shares during the last quarter. Clear Street Markets LLC bought a new stake in Sweetgreen in the fourth quarter worth about $33,000. Asset Dedication LLC bought a new stake in Sweetgreen in the second quarter worth about $58,000. Finally, Comerica Bank bought a new stake in Sweetgreen in the second quarter worth about $59,000. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Trading Down 0.9 %

Shares of NYSE SG opened at $25.26 on Friday. The stock has a 50 day moving average price of $15.77 and a 200 day moving average price of $12.50. Sweetgreen, Inc. has a 52-week low of $6.38 and a 52-week high of $26.15.

Sweetgreen (NYSE:SGGet Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The firm had revenue of $153.00 million during the quarter, compared to analysts’ expectations of $152.04 million. Sweetgreen had a negative net margin of 19.41% and a negative return on equity of 21.58%. The firm’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.44) EPS. Research analysts predict that Sweetgreen, Inc. will post -0.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jonathan Neman sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $10.47, for a total value of $52,350.00. Following the completion of the transaction, the chief executive officer now owns 2,100,000 shares of the company’s stock, valued at $21,987,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Mitch Reback sold 29,475 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $21.01, for a total transaction of $619,269.75. Following the transaction, the chief financial officer now directly owns 405,584 shares of the company’s stock, valued at $8,521,319.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jonathan Neman sold 5,000 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $10.47, for a total value of $52,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,100,000 shares in the company, valued at $21,987,000. The disclosure for this sale can be found here. Insiders sold 145,555 shares of company stock valued at $2,266,739 over the last 90 days. Corporate insiders own 22.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on SG shares. Citigroup raised their price objective on shares of Sweetgreen from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. raised their price objective on shares of Sweetgreen from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Oppenheimer reissued an “outperform” rating and issued a $17.00 price objective (up previously from $15.00) on shares of Sweetgreen in a research note on Friday, March 1st. TD Cowen raised their price objective on shares of Sweetgreen from $15.00 to $17.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Finally, Morgan Stanley raised their price objective on shares of Sweetgreen from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and a consensus price target of $17.75.

Read Our Latest Analysis on SG

Sweetgreen Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Sweetgreen (NYSE:SG)

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