Deutsche Bank AG Lowers Position in Sweetgreen, Inc. (NYSE:SG)

Deutsche Bank AG reduced its holdings in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 15.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 150,927 shares of the company's stock after selling 27,941 shares during the quarter. Deutsche Bank AG owned approximately 0.13% of Sweetgreen worth $4,839,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC raised its holdings in shares of Sweetgreen by 3.4% during the 4th quarter. FMR LLC now owns 10,103,969 shares of the company's stock worth $323,933,000 after buying an additional 329,789 shares in the last quarter. Vanguard Group Inc. grew its position in Sweetgreen by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company's stock worth $306,009,000 after acquiring an additional 351,240 shares during the last quarter. Invesco Ltd. grew its position in Sweetgreen by 40.9% during the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company's stock worth $176,850,000 after acquiring an additional 1,601,666 shares during the last quarter. Wellington Management Group LLP grew its position in Sweetgreen by 30.1% during the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company's stock worth $142,106,000 after acquiring an additional 1,025,341 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Sweetgreen by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 2,281,671 shares of the company's stock worth $73,167,000 after acquiring an additional 32,262 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SG has been the topic of a number of research reports. Royal Bank of Canada restated an "outperform" rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Tuesday, February 25th. The Goldman Sachs Group reduced their price objective on Sweetgreen from $27.00 to $23.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. 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 report on Monday, May 5th. 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 report on Friday, May 9th. Finally, TD Securities reiterated a "buy" rating and issued a $25.00 price target on shares of Sweetgreen in a research report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

Sweetgreen Price Performance

Shares of Sweetgreen stock traded up $0.40 on Thursday, hitting $13.25. 7,079,813 shares of the company's stock traded hands, compared to its average volume of 3,498,187. Sweetgreen, Inc. has a one year low of $12.39 and a one year high of $45.12. The company has a fifty day moving average of $20.27 and a two-hundred day moving average of $28.25. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -16.99 and a beta of 2.31.

Sweetgreen (NYSE:SG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $164.68 million. During the same quarter in the prior year, the company earned ($0.23) EPS. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Insider Activity at Sweetgreen

In other Sweetgreen news, COO Rossann Williams sold 4,977 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $118,452.60. Following the transaction, the chief operating officer now owns 95,516 shares in the company, valued at approximately $2,273,280.80. This represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nathaniel Ru sold 2,123 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was 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 owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. The trade was a 0.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,014 shares of company stock worth $736,283 in the last 90 days. Corporate insiders own 21.52% of the company's stock.

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.