Sweetgreen, Inc. (NYSE:SG) Stock Position Increased by Bessemer Group Inc.

Bessemer Group Inc. grew its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 19,183.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,248 shares of the company's stock after purchasing an additional 20,143 shares during the period. Bessemer Group Inc.'s holdings in Sweetgreen were worth $507,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Stifel Financial Corp increased its holdings in Sweetgreen by 55.3% in the 4th quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock valued at $403,000 after purchasing an additional 4,474 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Sweetgreen by 4.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company's stock worth $936,000 after buying an additional 1,278 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Sweetgreen by 54.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock valued at $523,000 after buying an additional 5,783 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Sweetgreen by 400.1% during the 4th quarter. LPL Financial LLC now owns 59,592 shares of the company's stock valued at $1,911,000 after buying an additional 47,676 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Sweetgreen by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 849,512 shares of the company's stock worth $27,235,000 after acquiring an additional 19,263 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company's stock.

Insider Transactions at Sweetgreen

In related news, CFO Mitch Reback sold 10,088 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $15.23, for a total transaction of $153,640.24. Following the sale, the chief financial officer owned 334,421 shares in the company, valued at $5,093,231.83. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clifford Burrows bought 19,200 shares of the stock in a transaction dated Friday, May 23rd. The shares were bought at an average cost of $13.11 per share, with a total value of $251,712.00. Following the completion of the acquisition, the director directly owned 19,200 shares of the company's stock, valued at approximately $251,712. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 21.52% of the stock is owned by corporate insiders.

Sweetgreen Trading Up 2.7%

NYSE SG traded up $0.40 on Thursday, hitting $14.80. 3,435,836 shares of the stock traded hands, compared to its average volume of 3,793,814. The stock has a 50-day moving average of $14.88 and a 200 day moving average of $22.91. Sweetgreen, Inc. has a twelve month low of $11.86 and a twelve month high of $45.12. The company has a market capitalization of $1.74 billion, a P/E ratio of -19.21 and a beta of 2.06.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.21). The firm had revenue of $166.30 million for the quarter, compared to analysts' expectations of $164.68 million. Sweetgreen had a negative return on equity of 19.72% and a negative net margin of 13.04%. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business posted ($0.23) earnings per share. As a group, equities research analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

SG has been the topic of a number of analyst reports. Oppenheimer dropped their price objective on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $19.00 price target on shares of Sweetgreen in a report on Tuesday. The Goldman Sachs Group cut their price objective on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating on the stock in a report on Wednesday, June 4th. TD Cowen reissued a "hold" rating and issued a $19.00 price objective on shares of Sweetgreen in a research report on Tuesday. Finally, Morgan Stanley dropped their target price on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Sweetgreen presently has a consensus rating of "Hold" and a consensus target price of $25.23.

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.