Universal Beteiligungs und Servicegesellschaft mbH Sells 105,872 Shares of Sweetgreen, Inc. (NYSE:SG)

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 lessened its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 61.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,436 shares of the company's stock after selling 105,872 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.06% of Sweetgreen worth $1,637,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Sweetgreen by 3.4% during the 4th quarter. FMR LLC now owns 10,103,969 shares of the company's stock worth $323,933,000 after acquiring an additional 329,789 shares during the period. Vanguard Group Inc. boosted its position in Sweetgreen by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company's stock worth $306,009,000 after purchasing an additional 351,240 shares during the period. Invesco Ltd. boosted its position in Sweetgreen by 40.9% during the fourth 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 period. Wellington Management Group LLP increased its stake in shares of Sweetgreen by 30.1% in 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of 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 purchasing an additional 874,942 shares during the period. Hedge funds and other institutional investors own 95.75% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SG shares. The Goldman Sachs Group cut their price objective on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, June 4th. JPMorgan Chase & Co. dropped their target price on Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 25th. Oppenheimer cut their price target on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Morgan Stanley decreased their price objective on Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Monday, July 14th. Finally, Piper Sandler dropped their price objective on Sweetgreen from $27.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $22.46.

Sweetgreen Stock Down 7.4%

Shares of SG stock traded down $0.95 during trading on Friday, hitting $11.93. The company had a trading volume of 7,112,184 shares, compared to its average volume of 4,921,717. The stock's 50-day moving average is $13.56 and its two-hundred day moving average is $19.98. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -15.49 and a beta of 2.04. Sweetgreen, Inc. has a 52 week low of $11.84 and a 52 week high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, meeting 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 business had revenue of $166.30 million for the quarter, compared to analysts' expectations of $164.68 million. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. The firm's revenue was up 5.3% on a year-over-year basis. On average, research analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Sweetgreen news, Director Clifford Burrows acquired 19,200 shares of the stock in a transaction dated Friday, May 23rd. The stock was purchased at an average cost of $13.11 per share, for a total transaction of $251,712.00. Following the acquisition, the director owned 19,200 shares in the company, valued at $251,712. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mitch Reback sold 10,088 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $15.23, for a total transaction of $153,640.24. Following the sale, the chief financial officer owned 334,421 shares of the company's stock, valued at approximately $5,093,231.83. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.52% of the stock is owned by company insiders.

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.