Stephens Investment Management Group LLC Has $33.90 Million Stake in Sweetgreen, Inc. (NYSE:SG)

Stephens Investment Management Group LLC boosted its stake in Sweetgreen, Inc. (NYSE:SG - Free Report) by 52.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,354,818 shares of the company's stock after buying an additional 464,013 shares during the quarter. Stephens Investment Management Group LLC owned approximately 1.15% of Sweetgreen worth $33,898,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its stake in Sweetgreen by 50.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,280 shares of the company's stock valued at $332,000 after buying an additional 4,474 shares in the last quarter. Stifel Financial Corp boosted its stake in Sweetgreen by 55.3% in the 4th quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock valued at $403,000 after buying an additional 4,474 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Sweetgreen by 4.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company's stock valued at $936,000 after buying an additional 1,278 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Sweetgreen by 54.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock valued at $523,000 after buying an additional 5,783 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in Sweetgreen by 400.1% in the 4th quarter. LPL Financial LLC now owns 59,592 shares of the company's stock valued at $1,911,000 after buying an additional 47,676 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company's stock.

Insider Transactions at Sweetgreen

In related news, Director Clifford Burrows acquired 19,200 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average price of $13.11 per share, for a total transaction of $251,712.00. Following the completion of the acquisition, the director owned 19,200 shares of the company's stock, valued at $251,712. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mitch Reback sold 10,088 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $15.23, for a total value of $153,640.24. Following the completion of the sale, the chief financial officer owned 334,421 shares of the company's stock, valued at $5,093,231.83. This represents a 2.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.52% of the company's stock.

Sweetgreen Price Performance

Shares of SG stock traded down $0.05 on Friday, reaching $13.66. 2,717,806 shares of the stock were exchanged, compared to its average volume of 3,812,862. The stock has a 50 day moving average price of $14.08 and a 200 day moving average price of $21.84. The stock has a market cap of $1.60 billion, a PE ratio of -17.74 and a beta of 2.06. Sweetgreen, Inc. has a one year low of $11.86 and a one year high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, meeting analysts' consensus estimates of ($0.21). The business had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. Sweetgreen had a negative return on equity of 19.72% and a negative net margin of 13.04%. The firm's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.23) earnings per share. On average, research analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. UBS Group reduced their price objective on Sweetgreen from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Oppenheimer reduced their price objective on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Wells Fargo & Company reissued an "overweight" rating and issued a $19.00 price objective on shares of Sweetgreen in a research note on Tuesday, July 1st. Piper Sandler reduced their price objective on Sweetgreen from $27.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, Morgan Stanley reduced their price objective on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $25.23.

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.