Sovran Advisors LLC Has $1.91 Million Stock Holdings in Sweetgreen, Inc. $SG

Key Points

• Sovran Advisors LLC increased its stake in Sweetgreen, Inc. by 128.7% during the second quarter, owning approximately 0.11% of the company, valued at roughly $1.91 million.
• Sweetgreen's CFO, Mitch Reback, sold 11,530 shares of the company's stock, resulting in a 3.45% decrease in his ownership, as disclosed to the SEC.
• The company's latest earnings report revealed a net loss of ($0.20) EPS, missing analysts' expectations, with a negative net margin of 14.29% and revenue of $185.58 million.

Sovran Advisors LLC boosted its stake in Sweetgreen, Inc. (NYSE:SG - Free Report) by 128.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 128,240 shares of the company's stock after buying an additional 72,166 shares during the period. Sovran Advisors LLC owned approximately 0.11% of Sweetgreen worth $1,908,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Spire Wealth Management grew its position in shares of Sweetgreen by 47.1% during the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company's stock worth $50,000 after purchasing an additional 635 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Sweetgreen during the 1st quarter worth approximately $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position 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 worth $103,000 after purchasing an additional 1,700 shares in the last quarter. State of Wyoming grew its position in shares of Sweetgreen by 98.1% during the 4th quarter. State of Wyoming now owns 5,534 shares of the company's stock worth $177,000 after purchasing an additional 2,741 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new position in shares of Sweetgreen during the 4th quarter worth approximately $228,000. Institutional investors and hedge funds own 95.75% of the company's stock.

Insider Buying and Selling at Sweetgreen

In other news, CFO Mitch Reback sold 11,530 shares of the stock in a transaction 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 directly owned 322,891 shares in the company, valued at $2,967,368.29. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 19.78% of the stock is currently owned by company insiders.

Sweetgreen Stock Down 0.7%

Shares of SG stock traded down $0.06 during trading hours on Friday, hitting $8.57. 4,580,814 shares of the company's stock traded hands, compared to its average volume of 5,165,475. Sweetgreen, Inc. has a 12 month low of $8.11 and a 12 month high of $45.12. The stock's 50 day simple moving average is $10.73 and its 200 day simple moving average is $15.38. The stock has a market cap of $1.01 billion, a PE ratio of -10.20 and a beta of 2.01.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SG shares. TD Cowen cut their price target on shares of Sweetgreen from $15.00 to $10.00 and set a "hold" rating for the company in a report on Friday, August 8th. TD Securities reaffirmed a "hold" rating and set a $15.00 price target (down previously from $25.00) on shares of Sweetgreen in a report on Tuesday, July 1st. JPMorgan Chase & Co. cut their price target on shares of Sweetgreen from $20.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, June 25th. William Blair reaffirmed an "outperform" rating on shares of Sweetgreen in a report on Friday, September 5th. Finally, Royal Bank Of Canada cut their price target on shares of Sweetgreen from $25.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Sweetgreen has an average rating of "Hold" and a consensus target price 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.