Silvercrest Asset Management Group LLC Purchases New Holdings in Sweetgreen, Inc. (NYSE:SG)

Silvercrest Asset Management Group LLC purchased a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 222,651 shares of the company's stock, valued at approximately $7,138,000. Silvercrest Asset Management Group LLC owned approximately 0.19% of Sweetgreen at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Summit Investment Advisors Inc. increased its holdings in shares of Sweetgreen by 4.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock valued at $336,000 after purchasing an additional 473 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Sweetgreen by 45.7% during the 4th 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 during the period. Hillsdale Investment Management Inc. grew its holdings in Sweetgreen by 1.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company's stock worth $1,608,000 after acquiring an additional 600 shares during the period. Oberweis Asset Management Inc. grew its holdings in Sweetgreen by 0.6% during the 4th quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company's stock worth $3,084,000 after acquiring an additional 610 shares during the period. Finally, Arizona State Retirement System grew its holdings in Sweetgreen by 2.1% during the 4th quarter. Arizona State Retirement System now owns 29,535 shares of the company's stock worth $947,000 after acquiring an additional 613 shares during the period. Institutional investors and hedge funds own 95.75% of the company's stock.

Analyst Ratings Changes

SG has been the subject of a number of analyst reports. Morgan Stanley lowered their target price on shares of Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. UBS Group lowered their target price on shares of Sweetgreen from $35.00 to $30.00 and set a "buy" rating for the company in a report on Monday, May 5th. Royal Bank of Canada reissued an "outperform" rating and issued a $45.00 price target on shares of Sweetgreen in a report on Tuesday, February 25th. Citigroup decreased their price target on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, TD Securities reissued a "buy" rating and issued a $25.00 price target on shares of Sweetgreen in a report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $31.00.

Sweetgreen Stock Down 3.4%

SG traded down $0.45 during trading on Friday, hitting $12.81. The company had a trading volume of 3,277,739 shares, compared to its average volume of 3,518,108. The company has a market capitalization of $1.50 billion, a PE ratio of -16.42 and a beta of 2.31. Sweetgreen, Inc. has a one year low of $12.37 and a one year high of $45.12. The firm's 50-day moving average price is $19.83 and its 200 day moving average price is $27.80.

Sweetgreen (NYSE:SG - Get Free Report) last announced 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). The firm had revenue of $166.30 million during the quarter, compared to analyst estimates of $164.68 million. Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) EPS. Sell-side analysts forecast that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Nathaniel Ru sold 2,123 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the transaction, the director now directly owns 1,785,099 shares of the company's stock, valued at approximately $42,485,356.20. This represents a 0.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mitch Reback sold 10,088 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $15.23, for a total transaction of $153,640.24. Following the completion of the transaction, the chief financial officer now directly owns 334,421 shares of the company's stock, valued at approximately $5,093,231.83. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,014 shares of company stock valued at $736,283. Company insiders own 21.52% of the company's stock.

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.