Sweetgreen, Inc. (NYSE:SG) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its stake in Sweetgreen, Inc. (NYSE:SG - Free Report) by 10.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,064,601 shares of the company's stock after selling 127,040 shares during the period. Ameriprise Financial Inc. owned about 0.92% of Sweetgreen worth $34,127,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Investment Advisors Inc. increased its position in shares of Sweetgreen by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock valued at $336,000 after purchasing an additional 473 shares during the last quarter. Cypress Wealth Services LLC boosted its stake in Sweetgreen by 6.1% during the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company's stock worth $270,000 after purchasing an additional 483 shares during the period. Tower Research Capital LLC TRC boosted its stake in Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after purchasing an additional 494 shares during the period. Hillsdale Investment Management Inc. boosted its stake in Sweetgreen by 1.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company's stock worth $1,608,000 after purchasing an additional 600 shares during the period. Finally, Oberweis Asset Management Inc. boosted its stake in Sweetgreen by 0.6% during the 4th quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company's stock worth $3,084,000 after purchasing an additional 610 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Rossann Williams sold 4,977 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $118,452.60. Following the completion of the sale, the chief operating officer now directly owns 95,516 shares in the company, valued at approximately $2,273,280.80. The trade was a 4.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mitch Reback sold 10,926 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total value of $288,774.18. Following the completion of the sale, the chief financial officer now owns 344,055 shares of the company's stock, valued at $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. Insiders have sold 35,852 shares of company stock worth $871,417 in the last three months. 21.52% of the stock is owned by insiders.

Sweetgreen Price Performance

Sweetgreen stock traded down $0.23 during midday trading on Friday, hitting $15.00. 4,571,472 shares of the company were exchanged, compared to its average volume of 3,452,264. The company's fifty day moving average price is $20.89 and its 200-day moving average price is $28.62. The company has a market cap of $1.76 billion, a PE ratio of -19.23 and a beta of 2.31. Sweetgreen, Inc. has a fifty-two week low of $14.61 and a fifty-two week high of $45.12.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on SG. Piper Sandler cut their price objective on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Citigroup dropped their target price on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Morgan Stanley dropped their target price on shares of Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price target on Sweetgreen from $25.00 to $20.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

About Sweetgreen

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.