Deutsche Bank AG Has $4.84 Million Stock Position in Sweetgreen, Inc. (NYSE:SG)

Deutsche Bank AG lowered its stake in Sweetgreen, Inc. (NYSE:SG - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,927 shares of the company's stock after selling 27,941 shares during the period. Deutsche Bank AG owned 0.13% of Sweetgreen worth $4,839,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC increased its holdings in shares of Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock valued at $33,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC boosted its stake in Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after acquiring an additional 741 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after acquiring an additional 494 shares during the last quarter. Millstone Evans Group LLC bought a new position in Sweetgreen in the fourth quarter valued at approximately $53,000. Finally, Denver PWM LLC bought a new position in Sweetgreen in the fourth quarter valued at approximately $60,000. Institutional investors and hedge funds own 95.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Oppenheimer reduced their price target on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. JPMorgan Chase & Co. reduced their price target on shares of Sweetgreen from $25.00 to $20.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. UBS Group reduced their price target on shares of Sweetgreen from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Citigroup reduced their price target on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group reduced their price target on shares of Sweetgreen from $27.00 to $23.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Insiders Place Their Bets

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

Sweetgreen Stock Down 3.4%

SG traded down $0.45 during trading on Friday, hitting $12.81. The company had a trading volume of 3,277,739 shares, compared to its average volume of 3,518,108. The company has a market capitalization of $1.50 billion, a PE 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. The firm's 50-day moving average price is $19.83 and its 200 day moving average price is $27.80.

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

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.