Two Sigma Advisers LP Has $10.31 Million Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Two Sigma Advisers LP trimmed its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 75.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 321,500 shares of the company's stock after selling 966,000 shares during the quarter. Two Sigma Advisers LP owned approximately 0.28% of Sweetgreen worth $10,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in SG. Massachusetts Financial Services Co. MA acquired a new stake in shares of Sweetgreen during the 4th quarter valued at about $52,558,000. Invesco Ltd. lifted its holdings in Sweetgreen by 40.9% in the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company's stock worth $176,850,000 after purchasing an additional 1,601,666 shares during the last quarter. Wellington Management Group LLP boosted its position in Sweetgreen by 30.1% during the fourth quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company's stock worth $142,106,000 after purchasing an additional 1,025,341 shares during the period. Frontier Capital Management Co. LLC boosted its position in Sweetgreen by 189.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company's stock worth $36,369,000 after purchasing an additional 743,157 shares during the period. Finally, Voya Investment Management LLC boosted its position in Sweetgreen by 848.5% during the fourth quarter. Voya Investment Management LLC now owns 748,581 shares of the company's stock worth $24,000,000 after purchasing an additional 669,657 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sweetgreen

In other news, CEO Jonathan Neman sold 5,717 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the sale, the chief executive officer now owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. The trade was a 0.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mitch Reback sold 10,088 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 334,421 shares in the company, valued at $5,093,231.83. This represents a 2.93% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,014 shares of company stock worth $736,283. 21.52% of the stock is owned by corporate insiders.

Sweetgreen Price Performance

Shares of NYSE SG traded up $0.23 during trading hours on Wednesday, reaching $12.83. The stock had a trading volume of 830,354 shares, compared to its average volume of 3,507,587. The business's fifty day moving average is $19.37 and its two-hundred day moving average is $27.41. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -16.42 and a beta of 2.31. Sweetgreen, Inc. has a twelve month low of $12.37 and a twelve month high of $45.12.

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

Wall Street Analysts Forecast Growth

SG has been the subject of a number of recent analyst reports. Citigroup decreased their target price on Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Morgan Stanley decreased their target price on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. TD Securities reaffirmed a "buy" rating and set a $25.00 target price on shares of Sweetgreen in a research report on Thursday, May 15th. Piper Sandler decreased their target price on Sweetgreen from $27.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Finally, The Goldman Sachs Group decreased their target price on Sweetgreen from $27.00 to $23.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company 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.