Swiss National Bank Trims Stake in Sweetgreen, Inc. (NYSE:SG)

Swiss National Bank cut its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 175,100 shares of the company’s stock after selling 19,100 shares during the quarter. Swiss National Bank owned about 0.16% of Sweetgreen worth $1,979,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Triumph Capital Management purchased a new stake in Sweetgreen in the fourth quarter valued at approximately $126,000. Mach 1 Financial Group LLC purchased a new stake in shares of Sweetgreen in the 4th quarter valued at $520,000. Handelsbanken Fonder AB acquired a new position in Sweetgreen during the 4th quarter worth about $137,000. Graham Capital Wealth Management LLC purchased a new position in Sweetgreen during the 4th quarter valued at about $139,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Sweetgreen in the 4th quarter valued at about $323,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Stock Up 5.1 %

SG stock opened at $32.53 on Friday. The business has a 50 day moving average price of $25.14 and a 200 day moving average price of $16.39. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -34.98 and a beta of 2.22. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $34.45.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Sweetgreen had a negative net margin of 17.15% and a negative return on equity of 20.74%. The company had revenue of $157.85 million during the quarter, compared to analyst estimates of $152.02 million. During the same quarter in the previous year, the company posted ($0.29) EPS. The company’s quarterly revenue was up 26.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Sweetgreen, Inc. will post -0.73 EPS for the current year.

Analyst Ratings Changes

SG has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Sweetgreen from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, May 10th. Morgan Stanley increased their price objective on Sweetgreen from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. TD Cowen boosted their target price on Sweetgreen from $22.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Citigroup increased their price target on Sweetgreen from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. Finally, Oppenheimer boosted their price objective on Sweetgreen from $17.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Sweetgreen currently has a consensus rating of “Moderate Buy” and an average target price of $25.75.

Insider Transactions at Sweetgreen

In related news, CFO Mitch Reback sold 8,837 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $31.98, for a total value of $282,607.26. Following the completion of the sale, the chief financial officer now directly owns 388,337 shares of the company’s stock, valued at approximately $12,419,017.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Mitch Reback sold 8,837 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $31.98, for a total value of $282,607.26. Following the completion of the sale, the chief financial officer now owns 388,337 shares in the company, valued at approximately $12,419,017.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bradley E. Singer sold 60,000 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $32.30, for a total transaction of $1,938,000.00. Following the sale, the director now owns 182,567 shares of the company’s stock, valued at approximately $5,896,914.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 385,870 shares of company stock worth $10,711,009. Corporate insiders own 21.52% of the company’s stock.

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.