Spyglass Capital Management LLC Boosts Stock Position in Sweetgreen, Inc. (NYSE:SG)

Spyglass Capital Management LLC boosted its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,296,894 shares of the company's stock after buying an additional 246,283 shares during the period. Sweetgreen makes up about 4.1% of Spyglass Capital Management LLC's investment portfolio, making the stock its 13th largest holding. Spyglass Capital Management LLC owned 1.99% of Sweetgreen worth $73,638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SG. Liberty One Investment Management LLC bought a new position in Sweetgreen in the 4th quarter worth about $582,000. Janney Montgomery Scott LLC lifted its stake in shares of Sweetgreen by 27.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 11,693 shares of the company's stock worth $375,000 after buying an additional 2,488 shares in the last quarter. Sachetta LLC grew its holdings in shares of Sweetgreen by 37.6% during the fourth quarter. Sachetta LLC now owns 4,324 shares of the company's stock valued at $139,000 after buying an additional 1,182 shares during the last quarter. KBC Group NV grew its holdings in shares of Sweetgreen by 65.0% during the fourth quarter. KBC Group NV now owns 5,161 shares of the company's stock valued at $165,000 after buying an additional 2,034 shares during the last quarter. Finally, Deepwater Asset Management LLC purchased a new position in Sweetgreen in the 4th quarter worth approximately $13,695,000. Institutional investors own 95.75% of the company's stock.

Analyst Upgrades and Downgrades

SG has been the subject of a number of research analyst reports. Piper Sandler reduced their target price on Sweetgreen from $27.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, May 9th. The Goldman Sachs Group decreased their target price on Sweetgreen from $27.00 to $23.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. TD Securities reiterated a "buy" rating and issued a $25.00 price target on shares of Sweetgreen in a research note on Thursday, May 15th. UBS Group decreased their price objective 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Sweetgreen from $25.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Sweetgreen has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Insiders Place Their Bets

In related news, CEO Jonathan Neman sold 5,717 shares of Sweetgreen stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the completion of the transaction, the chief executive officer now owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This trade represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 10,088 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $15.23, for a total value of $153,640.24. Following the sale, the chief financial officer now owns 334,421 shares in the company, valued at approximately $5,093,231.83. This trade represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,014 shares of company stock worth $736,283 over the last three months. 21.52% of the stock is currently owned by company insiders.

Sweetgreen Stock Down 3.4%

NYSE:SG traded down $0.45 during mid-day trading on Friday, hitting $12.81. 2,800,080 shares of the company traded hands, compared to its average volume of 3,503,185. The stock's fifty day moving average price is $20.05 and its 200-day moving average price is $28.08. The firm has a market cap of $1.50 billion, a price-to-earnings 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.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.21). Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. During the same period in the previous year, the company posted ($0.23) EPS. The firm's revenue was up 5.3% on a year-over-year basis. Equities analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current 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.