Cary Street Partners Financial LLC Takes $1.12 Million Position in Sweetgreen, Inc. (NYSE:SG)

Cary Street Partners Financial LLC purchased a new stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 35,000 shares of the company's stock, valued at approximately $1,122,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its holdings in Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after purchasing an additional 1,000 shares during the period. Headlands Technologies LLC grew its holdings in shares of Sweetgreen by 156.0% during the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after buying an additional 741 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after purchasing an additional 494 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Sweetgreen during the 4th quarter valued at $53,000. Finally, Denver PWM LLC acquired a new stake in shares of Sweetgreen during the 4th quarter valued at about $60,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Trading Down 15.6 %

NYSE:SG traded down $2.84 on Friday, reaching $15.33. 19,041,978 shares of the stock traded hands, compared to its average volume of 3,409,948. The company's 50 day moving average is $21.74 and its 200-day moving average is $29.45. Sweetgreen, Inc. has a 1-year low of $14.61 and a 1-year high of $45.12. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -19.65 and a beta of 2.31.

Sweetgreen (NYSE:SG - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, meeting the consensus estimate of ($0.21). Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. During the same period last year, the business posted ($0.23) EPS. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SG shares. Citigroup cut their target price on Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Morgan Stanley dropped their price target on shares of Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating for the company in a research report on Friday. Oppenheimer reduced their price objective on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a report on Friday. UBS Group reduced their price target on shares of Sweetgreen from $35.00 to $30.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, The Goldman Sachs Group lowered their price target on Sweetgreen from $27.00 to $23.00 and set a "neutral" rating on the stock in a research report on Friday. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $32.18.

Insider Activity at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 5,717 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the sale, the chief executive officer now directly owns 1,810,263 shares in the company, valued at $43,084,259.40. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mitch Reback sold 10,926 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the transaction, the chief financial officer now directly owns 344,055 shares of the company's stock, valued at approximately $9,093,373.65. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,852 shares of company stock valued at $871,417. 21.52% of the stock is owned by corporate insiders.

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.