Two Sigma Investments LP Trims Holdings in Sweetgreen, Inc. (NYSE:SG)

Two Sigma Investments LP reduced its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 56.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 753,244 shares of the company's stock after selling 975,164 shares during the quarter. Two Sigma Investments LP owned approximately 0.65% of Sweetgreen worth $24,149,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. State of Wyoming increased its position in Sweetgreen by 98.1% during the 4th quarter. State of Wyoming now owns 5,534 shares of the company's stock valued at $177,000 after purchasing an additional 2,741 shares during the period. Silvercrest Asset Management Group LLC purchased a new position in Sweetgreen during the 4th quarter valued at $7,138,000. ProShare Advisors LLC increased its position in Sweetgreen by 51.1% during the 4th quarter. ProShare Advisors LLC now owns 28,209 shares of the company's stock valued at $904,000 after purchasing an additional 9,545 shares during the period. Panoramic Capital LLC purchased a new position in Sweetgreen during the 4th quarter valued at $1,276,000. Finally, Man Group plc purchased a new position in Sweetgreen during the 4th quarter valued at $382,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, COO Rossann Williams sold 4,977 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 8,109 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.84, for a total transaction of $193,318.56. Following the completion of the transaction, the chief financial officer now owns 350,023 shares in the company, valued at $8,344,548.32. This trade represents a 2.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,014 shares of company stock worth $736,283. Company insiders own 21.52% of the company's stock.

Sweetgreen Price Performance

Sweetgreen stock traded down $0.45 during mid-day trading on Friday, reaching $12.81. The stock 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 price-to-earnings ratio of -16.42 and a beta of 2.31. The company has a 50-day moving average price of $19.83 and a two-hundred day moving average price of $27.89. Sweetgreen, Inc. has a one year low of $12.37 and a one year high of $45.12.

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 company had revenue of $166.30 million for the quarter, compared to analysts' expectations of $164.68 million. Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. Sweetgreen's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.23) EPS. On average, equities research analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SG has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $45.00 target price on shares of Sweetgreen in a research report on Tuesday, February 25th. Oppenheimer reduced their target price 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. Piper Sandler reduced their target price on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. TD Securities reaffirmed a "buy" rating and issued a $25.00 target price on shares of Sweetgreen in a research report on Thursday, May 15th. Finally, The Goldman Sachs Group reduced their target price 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.