Granahan Investment Management LLC Acquires 41,320 Shares of Sweetgreen, Inc. $SG

Key Points

• Granahan Investment Management LLC increased its holdings in Sweetgreen, Inc. by 4.0%, now owning over 1 million shares, which represent about 1.3% of its portfolio.
• Multiple institutional investors, including Tower Research Capital and Generali Investments, have significantly increased their positions in Sweetgreen, indicating growing interest in the stock.
• Analysts have mixed ratings on Sweetgreen with six "Buy" and eight "Hold" ratings, while recent price targets have seen reductions, reflecting caution in the stock’s performance.

Granahan Investment Management LLC raised its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 4.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,063,717 shares of the company's stock after purchasing an additional 41,320 shares during the period. Sweetgreen accounts for approximately 1.3% of Granahan Investment Management LLC's portfolio, making the stock its 21st largest position. Granahan Investment Management LLC owned 0.91% of Sweetgreen worth $26,614,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SG. Tower Research Capital LLC TRC increased its position in shares of Sweetgreen by 45.7% in the fourth 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 during the last quarter. Spire Wealth Management grew its position 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 purchasing an additional 635 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Sweetgreen in the 1st quarter worth about $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its stake in shares of 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. Finally, Fund 1 Investments LLC bought a new position in Sweetgreen in the 4th quarter worth approximately $140,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Stock Performance

Shares of SG stock traded up $0.01 during trading hours on Wednesday, hitting $8.69. The company had a trading volume of 2,439,997 shares, compared to its average volume of 4,923,797. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -10.35 and a beta of 2.01. The firm's fifty day moving average is $11.57 and its 200 day moving average is $16.16. Sweetgreen, Inc. has a 12 month low of $8.11 and a 12 month high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.08). The company had revenue of $185.58 million during the quarter, compared to the consensus estimate of $193.47 million. Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%.The firm's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.13) earnings per share. Sweetgreen has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mitch Reback sold 11,530 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.19, for a total transaction of $105,960.70. Following the completion of the sale, the chief financial officer owned 322,891 shares of the company's stock, valued at approximately $2,967,368.29. This represents a 3.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 19.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SG. The Goldman Sachs Group dropped their price target on Sweetgreen from $23.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 4th. Wells Fargo & Company restated an "overweight" rating and issued a $19.00 target price on shares of Sweetgreen in a research report on Tuesday, July 1st. Piper Sandler cut their target price on Sweetgreen from $20.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. TD Securities reissued a "hold" rating and issued a $15.00 price target (down from $25.00) on shares of Sweetgreen in a report on Tuesday, July 1st. Finally, Morgan Stanley lowered their price objective on Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating for the company in a research report on Monday, July 14th. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average 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.