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

Stephens Investment Management Group LLC increased its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 52.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,354,818 shares of the company's stock after buying an additional 464,013 shares during the period. Stephens Investment Management Group LLC owned 1.15% of Sweetgreen worth $33,898,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. New York State Common Retirement Fund boosted its holdings in Sweetgreen by 352.0% in the 1st quarter. New York State Common Retirement Fund now owns 242,472 shares of the company's stock valued at $6,067,000 after purchasing an additional 188,830 shares during the period. Brown Advisory Inc. boosted its holdings in Sweetgreen by 6.7% in the 1st quarter. Brown Advisory Inc. now owns 118,560 shares of the company's stock valued at $2,966,000 after purchasing an additional 7,395 shares during the period. Bank of New York Mellon Corp boosted its holdings in Sweetgreen by 1.4% in the 1st quarter. Bank of New York Mellon Corp now owns 308,247 shares of the company's stock valued at $7,712,000 after purchasing an additional 4,333 shares during the period. GF Fund Management CO. LTD. bought a new stake in Sweetgreen in the 1st quarter valued at about $71,000. Finally, Teacher Retirement System of Texas bought a new stake in Sweetgreen in the 1st quarter valued at about $378,000. Institutional investors own 95.75% of the company's stock.

Sweetgreen Price Performance

SG stock traded up $0.07 during trading on Wednesday, reaching $13.07. 2,452,198 shares of the company were exchanged, compared to its average volume of 3,814,444. The company has a 50-day moving average of $13.86 and a two-hundred day moving average of $21.57. Sweetgreen, Inc. has a twelve month low of $11.86 and a twelve month 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) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.21). The business had revenue of $166.30 million during the quarter, compared to analysts' expectations of $164.68 million. Sweetgreen had a negative net margin of 13.04% and a negative return on equity of 19.72%. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.23) EPS. Research analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insider Activity at Sweetgreen

In other Sweetgreen news, Director Clifford Burrows purchased 19,200 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was purchased at an average cost of $13.11 per share, for a total transaction of $251,712.00. Following the transaction, the director owned 19,200 shares in the company, valued at $251,712. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 transaction of $153,640.24. Following the completion of the transaction, the chief financial officer owned 334,421 shares of the company's stock, 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. Corporate insiders own 21.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SG shares. TD Securities restated a "hold" rating and issued a $15.00 target price (down from $25.00) on shares of Sweetgreen in a research report on Tuesday, July 1st. UBS Group dropped their target price on shares of Sweetgreen from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Piper Sandler dropped their target price on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Oppenheimer dropped their target price on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, The Goldman Sachs Group dropped their target price on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, June 4th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $24.85.

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.