Hussman Strategic Advisors Inc. Has $788,000 Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Hussman Strategic Advisors Inc. lowered its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 50.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,500 shares of the company's stock after selling 31,500 shares during the quarter. Hussman Strategic Advisors Inc.'s holdings in Sweetgreen were worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. FMR LLC lifted its stake in shares of Sweetgreen by 3.4% in the 4th quarter. FMR LLC now owns 10,103,969 shares of the company's stock valued at $323,933,000 after purchasing an additional 329,789 shares during the last quarter. Vanguard Group Inc. increased its stake 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 buying an additional 351,240 shares in the last quarter. Invesco Ltd. grew its position in shares of Sweetgreen by 40.9% in the fourth quarter. Invesco Ltd. now owns 5,516,223 shares of the company's stock valued at $176,850,000 after purchasing an additional 1,601,666 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Sweetgreen by 30.1% in the fourth quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company's stock valued at $142,106,000 after acquiring an additional 1,025,341 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Sweetgreen by 53.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,514,316 shares of the company's stock valued at $62,908,000 after acquiring an additional 874,942 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on SG. Wells Fargo & Company reissued an "overweight" rating and issued a $19.00 target price on shares of Sweetgreen in a report on Tuesday, July 1st. Piper Sandler dropped their price objective on Sweetgreen from $27.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Bank of America lowered their target price on Sweetgreen from $27.00 to $22.00 and set a "buy" rating for the company in a research note on Friday. TD Securities restated a "hold" rating and set a $15.00 target price (down from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. Finally, 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. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $23.31.

Insider Buying and Selling at Sweetgreen

In other news, Director Clifford Burrows purchased 19,200 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were purchased at an average price of $13.11 per share, for a total transaction of $251,712.00. Following the completion of the purchase, the director owned 19,200 shares in the company, valued at approximately $251,712. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mitch Reback sold 10,088 shares of the firm'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 sale, the chief financial officer directly owned 334,421 shares in the company, valued at approximately $5,093,231.83. The trade was 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 NYSE SG traded up $0.76 during trading on Friday, hitting $14.35. The stock had a trading volume of 5,415,387 shares, compared to its average volume of 3,838,553. Sweetgreen, Inc. has a 12 month low of $11.86 and a 12 month high of $45.12. The company has a market capitalization of $1.68 billion, a PE ratio of -18.64 and a beta of 2.06. The firm has a fifty day moving average of $13.66 and a two-hundred day moving average of $21.19.

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