70,065 Shares in Sweetgreen, Inc. (NYSE:SG) Purchased by AIA Group Ltd

Key Points

• AIA Group Ltd has acquired a new stake in Sweetgreen, Inc., purchasing 70,065 shares valued at approximately $1.75 million, representing about 0.06% of the company.
• Sweetgreen reported a quarterly loss of ($0.20) earnings per share, missing analysts' expectations and experiencing a negative return on equity of 21.91%.
• Analysts have recently adjusted price targets for Sweetgreen, with Piper Sandler lowering its target from $20.00 to $12.00 while Wells Fargo maintains an "overweight" rating with a target of $19.00.

AIA Group Ltd purchased a new position in Sweetgreen, Inc. (NYSE:SG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 70,065 shares of the company's stock, valued at approximately $1,753,000. AIA Group Ltd owned approximately 0.06% of Sweetgreen at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in Sweetgreen by 45.7% in 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 in the last quarter. Spire Wealth Management lifted its stake in Sweetgreen by 47.1% during the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company's stock valued at $50,000 after acquiring an additional 635 shares during the period. Thematics Asset Management bought a new position in Sweetgreen during the 4th quarter valued at about $69,000. GF Fund Management CO. LTD. bought a new position in Sweetgreen during the 1st quarter valued at about $71,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its stake in Sweetgreen by 70.8% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company's stock valued at $103,000 after acquiring an additional 1,700 shares during the period. Institutional investors own 95.75% of the company's stock.

Sweetgreen Trading Down 4.5%

SG traded down $0.44 during trading on Thursday, hitting $9.18. 7,176,803 shares of the company traded hands, compared to its average volume of 4,852,944. The company has a market cap of $1.08 billion, a PE ratio of -10.92 and a beta of 2.04. The stock's 50-day simple moving average is $13.18 and its two-hundred day simple moving average is $18.85. Sweetgreen, Inc. has a 1 year low of $8.80 and a 1 year high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). The firm had revenue of $185.58 million for the quarter, compared to the consensus estimate of $193.47 million. Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. Sweetgreen's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.13) earnings per share. Equities analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Insider Buying and Selling at Sweetgreen

In related news, CFO Mitch Reback sold 10,088 shares of Sweetgreen stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $15.23, for a total value of $153,640.24. Following the completion of the transaction, the chief financial officer owned 334,421 shares in the company, valued at approximately $5,093,231.83. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Clifford Burrows acquired 19,200 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $13.11 per share, for a total transaction of $251,712.00. Following the completion of the transaction, the director owned 19,200 shares of the company's stock, valued at approximately $251,712. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 19.78% of the company's stock.

Analysts Set New Price Targets

SG has been the topic of several research analyst reports. Wells Fargo & Company restated an "overweight" rating and set a $19.00 target price on shares of Sweetgreen in a research note on Tuesday, July 1st. JPMorgan Chase & Co. lowered their target price on shares of Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 25th. Bank of America lowered their target price on shares of Sweetgreen from $27.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Piper Sandler lowered their target price on shares of Sweetgreen from $20.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Finally, Morgan Stanley reduced their price target on shares of Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating for the company in a research report on Monday, July 14th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Sweetgreen currently has an average rating of "Hold" and a consensus price target of $17.69.

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.