Sweetgreen, Inc. (NYSE:SG) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE raised its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 46.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 883,157 shares of the company's stock after purchasing an additional 278,305 shares during the quarter. Bank of America Corp DE owned 0.76% of Sweetgreen worth $28,314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SG. Cypress Wealth Services LLC lifted its holdings in shares of Sweetgreen by 6.1% during the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company's stock valued at $270,000 after acquiring an additional 483 shares in the last quarter. Liberty One Investment Management LLC purchased a new position in Sweetgreen in the fourth quarter valued at about $582,000. Janney Montgomery Scott LLC raised its position in Sweetgreen by 27.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 11,693 shares of the company's stock valued at $375,000 after purchasing an additional 2,488 shares during the period. Sachetta LLC lifted its stake in shares of Sweetgreen by 37.6% during the fourth quarter. Sachetta LLC now owns 4,324 shares of the company's stock worth $139,000 after purchasing an additional 1,182 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Sweetgreen by 65.0% in the fourth quarter. KBC Group NV now owns 5,161 shares of the company's stock worth $165,000 after buying an additional 2,034 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SG has been the topic of several analyst reports. UBS Group dropped their target price on Sweetgreen from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, May 5th. JPMorgan Chase & Co. lowered their price objective on shares of Sweetgreen from $25.00 to $20.00 and set a "neutral" rating for the company in a research report on Monday, May 12th. Piper Sandler dropped their price objective on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. The Goldman Sachs Group decreased their target price on shares of Sweetgreen from $27.00 to $23.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $45.00 price target on shares of Sweetgreen in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.00.

Insider Activity at Sweetgreen

In other Sweetgreen news, Director Nathaniel Ru sold 2,123 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $50,527.40. Following the sale, the director now directly owns 1,785,099 shares of the company's stock, valued at approximately $42,485,356.20. This represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Neman sold 5,717 shares of Sweetgreen stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $136,064.60. Following the completion of the transaction, the chief executive officer now directly owns 1,810,263 shares of the company's stock, valued at $43,084,259.40. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,014 shares of company stock valued at $736,283 over the last three months. 21.52% of the stock is owned by insiders.

Sweetgreen Price Performance

SG traded down $1.52 during trading on Wednesday, hitting $12.86. The company had a trading volume of 10,631,681 shares, compared to its average volume of 3,482,908. Sweetgreen, Inc. has a 1-year low of $12.84 and a 1-year high of $45.12. The company has a market cap of $1.51 billion, a PE ratio of -16.48 and a beta of 2.31. The business has a 50-day moving average of $20.49 and a 200-day moving average of $28.35.

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

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.