Sweetgreen, Inc. (NYSE:SG) Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has reduced its stake in Sweetgreen by 61.8%, holding 65,436 shares worth approximately $1.6 million post-sale.
• Several other large investors, including FMR LLC and Vanguard Group, have increased their holdings in Sweetgreen, indicating active institutional interest in the company.
• Sweetgreen's stock price has dropped 7.4% to $11.93, with analysts lowering target prices, reflecting a cautious sentiment around the company's performance.

Universal Beteiligungs und Servicegesellschaft mbH cut its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 61.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,436 shares of the company's stock after selling 105,872 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.06% of Sweetgreen worth $1,637,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SG. Sequoia Financial Advisors LLC raised its position in Sweetgreen by 50.8% in the first quarter. Sequoia Financial Advisors LLC now owns 13,280 shares of the company's stock worth $332,000 after acquiring an additional 4,474 shares in the last quarter. Stifel Financial Corp increased its position in shares of Sweetgreen by 55.3% in the fourth quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock valued at $403,000 after buying an additional 4,474 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Sweetgreen by 4.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company's stock valued at $936,000 after buying an additional 1,278 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Sweetgreen by 54.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock valued at $523,000 after buying an additional 5,783 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of Sweetgreen by 400.1% in the fourth quarter. LPL Financial LLC now owns 59,592 shares of the company's stock valued at $1,911,000 after buying an additional 47,676 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Price Performance

NYSE:SG traded up $0.12 during mid-day trading on Tuesday, reaching $12.54. The company's stock had a trading volume of 1,843,644 shares, compared to its average volume of 4,535,447. The company's fifty day simple moving average is $13.55 and its two-hundred day simple moving average is $19.65. Sweetgreen, Inc. has a twelve month low of $11.84 and a twelve month high of $45.12. The stock has a market cap of $1.47 billion, a P/E ratio of -16.29 and a beta of 2.04.

Sweetgreen (NYSE:SG - Get Free Report) last issued 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). Sweetgreen had a negative return on equity of 19.72% and a negative net margin of 13.04%. The firm had revenue of $166.30 million for the quarter, compared to analyst estimates of $164.68 million. During the same period last year, the company earned ($0.23) EPS. The firm's quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insider Activity

In other news, Director Clifford Burrows acquired 19,200 shares of Sweetgreen stock in a transaction dated Friday, May 23rd. The shares were acquired at an average cost of $13.11 per share, with a total value of $251,712.00. Following the purchase, the director directly owned 19,200 shares of the company's stock, valued at approximately $251,712. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mitch Reback sold 10,088 shares of Sweetgreen 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 completion of the transaction, the chief financial officer directly owned 334,421 shares in the company, valued at $5,093,231.83. This represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.52% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SG shares. Oppenheimer dropped their price target on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. TD Cowen restated a "hold" rating and issued a $19.00 price target on shares of Sweetgreen in a research report on Tuesday, July 1st. Wells Fargo & Company restated an "overweight" rating and issued a $19.00 price target on shares of Sweetgreen in a research report on Tuesday, July 1st. The Goldman Sachs Group dropped their price target on Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 25th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Sweetgreen currently has an average rating of "Hold" and an average target price of $22.46.

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.