Silvercrest Asset Management Group LLC Invests $7.14 Million in Sweetgreen, Inc. (NYSE:SG)

Silvercrest Asset Management Group LLC acquired a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 222,651 shares of the company's stock, valued at approximately $7,138,000. Silvercrest Asset Management Group LLC owned about 0.19% of Sweetgreen at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its stake in shares of Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock worth $39,000 after buying an additional 741 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after buying an additional 494 shares during the period. Millstone Evans Group LLC purchased a new position in Sweetgreen in the 4th quarter valued at approximately $53,000. Finally, Denver PWM LLC bought a new stake in Sweetgreen during the 4th quarter valued at $60,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

Insiders Place Their Bets

In other news, CEO Jonathan Neman sold 5,717 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the completion of the sale, the chief executive officer now directly owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. The trade was a 0.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mitch Reback sold 10,926 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the sale, the chief financial officer now directly owns 344,055 shares of the company's stock, valued at $9,093,373.65. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,852 shares of company stock valued at $871,417 over the last 90 days. Insiders own 21.52% of the company's stock.

Analyst Upgrades and Downgrades

SG has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Sweetgreen from $25.00 to $20.00 and set a "neutral" rating for the company in a report on Monday, May 12th. UBS Group cut their target price on Sweetgreen from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Oppenheimer reduced their target price on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Piper Sandler lowered their price target on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Citigroup reduced their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

Sweetgreen Price Performance

SG stock opened at $15.00 on Monday. The firm has a 50 day simple moving average of $20.89 and a two-hundred day simple moving average of $28.62. The stock has a market cap of $1.76 billion, a PE ratio of -19.23 and a beta of 2.31. Sweetgreen, Inc. has a one year low of $14.61 and a one year high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) 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 analyst estimates of $164.68 million. During the same period in the previous year, the business earned ($0.23) earnings per share. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal 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.

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