BNP Paribas Financial Markets Takes $739,000 Position in Sweetgreen, Inc. (NYSE:SG)

BNP Paribas Financial Markets acquired a new position in Sweetgreen, Inc. (NYSE:SG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,063 shares of the company's stock, valued at approximately $739,000.

Several other large investors have also added to or reduced their stakes in SG. Steward Partners Investment Advisory LLC lifted its position in Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after buying an additional 1,000 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after acquiring an additional 741 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Sweetgreen by 45.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after acquiring an additional 494 shares in the last quarter. Millstone Evans Group LLC acquired a new position in Sweetgreen during the fourth quarter valued at approximately $53,000. Finally, Denver PWM LLC bought a new position in Sweetgreen in the fourth quarter valued at approximately $60,000. Institutional investors and hedge funds own 95.75% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Piper Sandler dropped their price objective on 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 dropped their target price on shares of Sweetgreen from $27.00 to $23.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Morgan Stanley reduced their price target on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Citigroup lowered their price target on Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, TD Securities reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Sweetgreen in a research report on Thursday, May 15th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

Sweetgreen Price Performance

SG opened at $13.25 on Friday. The business has a fifty day simple moving average of $20.05 and a 200 day simple moving average of $28.08. Sweetgreen, Inc. has a 1 year low of $12.37 and a 1 year high of $45.12. The company has a market capitalization of $1.55 billion, a PE ratio of -16.99 and a beta of 2.31.

Sweetgreen (NYSE:SG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, hitting analysts' consensus estimates 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 quarter last year, the firm earned ($0.23) earnings per share. The company's revenue was up 5.3% on a year-over-year basis. Equities analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Nathaniel Ru sold 2,123 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $50,527.40. Following the completion of the sale, the director now owns 1,785,099 shares of the company's stock, valued at $42,485,356.20. This represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jonathan Neman sold 5,717 shares of the firm's 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 in the company, valued at approximately $43,084,259.40. This represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,014 shares of company stock worth $736,283 in the last quarter. 21.52% of the stock is currently owned by corporate insiders.

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.

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