Granahan Investment Management LLC Invests $1.47 Million in Sweetgreen, Inc. $SG

Key Points

• Granahan Investment Management disclosed a new position in Sweetgreen, buying 283,646 shares valued at about $1.47 million, equal to roughly 0.24% of the company.
• Institutional interest remains high, with several other funds adjusting their stakes and 95.75% of Sweetgreen stock currently held by institutional investors and hedge funds.
• Analyst sentiment is mixed but mostly cautious: Sweetgreen has an average Hold rating and an average price target of $7.72, while recent earnings missed estimates and revenue declined 2.9% year over year.

Granahan Investment Management LLC acquired a new stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 283,646 shares of the company's stock, valued at approximately $1,472,000. Granahan Investment Management LLC owned approximately 0.24% of Sweetgreen at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Aspen Grove Capital LLC increased its stake in Sweetgreen by 36.4% during the 1st quarter. Aspen Grove Capital LLC now owns 30,000 shares of the company's stock worth $156,000 after purchasing an additional 8,000 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of Sweetgreen in the first quarter valued at approximately $38,000. Onyx Bridge Wealth Group LLC acquired a new position in shares of Sweetgreen in the first quarter valued at approximately $56,000. Caitong International Asset Management Co. Ltd increased its position in shares of Sweetgreen by 548.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,437 shares of the company's stock worth $91,000 after acquiring an additional 11,364 shares in the last quarter. Finally, Alpine Global Management LLC bought a new stake in shares of Sweetgreen during the fourth quarter worth $92,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on SG. Citigroup boosted their price objective on shares of Sweetgreen from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Citizens Jmp assumed coverage on Sweetgreen in a report on Monday, March 30th. They set a "mkt underperform" rating and a $4.50 target price for the company. JPMorgan Chase & Co. upgraded Sweetgreen from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $8.00 to $13.00 in a report on Friday, May 22nd. Weiss Ratings raised Sweetgreen from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, May 22nd. Finally, BNP Paribas Exane upped their price objective on Sweetgreen from $4.50 to $5.00 and gave the stock an "underperform" rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Sweetgreen has an average rating of "Hold" and an average target price of $7.72.

Sweetgreen Stock Down 0.3%

Shares of SG stock opened at $6.02 on Friday. Sweetgreen, Inc. has a 12 month low of $4.49 and a 12 month high of $14.99. The company's fifty day simple moving average is $8.33 and its 200-day simple moving average is $6.96. The firm has a market cap of $715.83 million, a PE ratio of 50.20 and a beta of 2.17.

Sweetgreen (NYSE:SG - Get Free Report) last released its earnings results on Friday, May 8th. The company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.04). Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The business had revenue of $161.52 million during the quarter, compared to the consensus estimate of $163.94 million. During the same period last year, the business posted ($0.21) EPS. The firm's revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts predict that Sweetgreen, Inc. will post -0.51 earnings per share for the current fiscal year.

Sweetgreen Company Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company's menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.

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