Twinbeech Capital LP Invests $7.29 Million in Sweetgreen, Inc. (NYSE:SG)

Twinbeech Capital LP bought a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 227,292 shares of the company's stock, valued at approximately $7,287,000. Twinbeech Capital LP owned approximately 0.20% of Sweetgreen at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA acquired a new stake in shares of Sweetgreen during the 4th quarter valued at $52,558,000. 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. Frontier Capital Management Co. LLC grew its position in Sweetgreen by 189.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company's stock worth $36,369,000 after acquiring an additional 743,157 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in Sweetgreen by 848.5% during the 4th quarter. Voya Investment Management LLC now owns 748,581 shares of the company's stock worth $24,000,000 after acquiring an additional 669,657 shares during the last quarter. Institutional investors own 95.75% of the company's stock.

Insider Activity at Sweetgreen

In related news, Director Nathaniel Ru sold 2,123 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $50,527.40. Following the transaction, the director now directly owns 1,785,099 shares of the company's stock, valued at approximately $42,485,356.20. This represents a 0.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Rossann Williams sold 4,977 shares of the company's 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 directly owns 95,516 shares in the company, valued at approximately $2,273,280.80. This trade represents a 4.95% decrease in their ownership of the stock. 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 Price Performance

Shares of Sweetgreen stock traded down $0.45 on Friday, hitting $12.81. 3,277,739 shares of the company's stock traded hands, compared to its average volume of 3,518,108. Sweetgreen, Inc. has a one year low of $12.37 and a one year high of $45.12. The company has a fifty day moving average of $19.83 and a two-hundred day moving average of $27.80. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -16.42 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. TD Securities restated a "buy" rating and set a $25.00 price objective on shares of Sweetgreen in a research report on Thursday, May 15th. 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. Oppenheimer reduced their price objective on 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 objective on Sweetgreen from $25.00 to $20.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. 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 report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

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.