XTX Topco Ltd Buys Shares of 34,051 Sweetgreen, Inc. (NYSE:SG)

Key Points

• XTX Topco Ltd made a new investment of approximately $852,000 in Sweetgreen, acquiring 34,051 shares of the company.
• Sweetgreen's stock increased by 4.4% on a recent trading day, reaching $12.45, with a market capitalization of $1.46 billion.
• Analysts have set various price targets for Sweetgreen, with a consensus target of approximately $22.46 and an average rating of "Hold".

XTX Topco Ltd bought a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 34,051 shares of the company's stock, valued at approximately $852,000.

A number of other institutional investors also recently made changes to their positions in the stock. Headlands Technologies LLC lifted its holdings in shares of Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after buying an additional 741 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after acquiring an additional 494 shares during the last quarter. Spire Wealth Management raised its position in shares of Sweetgreen by 47.1% during the first quarter. Spire Wealth Management now owns 1,983 shares of the company's stock worth $50,000 after purchasing an additional 635 shares during the period. Thematics Asset Management acquired a new position in shares of Sweetgreen in the 4th quarter valued at $69,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Sweetgreen during the 1st quarter worth about $71,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, June 25th. Oppenheimer cut their target price on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Barclays raised their price objective on Sweetgreen from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Morgan Stanley dropped their target price on Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating on the stock in a report on Monday, July 14th. Finally, TD Securities reissued a "hold" rating and issued a $15.00 price target (down from $25.00) on shares of Sweetgreen in a research report on Tuesday, July 1st. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $22.46.

Sweetgreen Stock Up 2.5%

SG stock traded up $0.31 during mid-day trading on Thursday, reaching $12.63. 4,671,978 shares of the stock traded hands, compared to its average volume of 4,543,398. The business has a 50-day moving average of $13.53 and a two-hundred day moving average of $19.55. The firm has a market capitalization of $1.48 billion, a PE ratio of -16.43 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 announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.21). The business had revenue of $166.30 million for the quarter, compared to the consensus estimate of $164.68 million. Sweetgreen had a negative net margin of 13.04% and a negative return on equity of 19.72%. Sweetgreen's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.23) earnings per share. On average, equities research analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, 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 value of $153,640.24. Following the sale, the chief financial officer owned 334,421 shares of the company's stock, valued at $5,093,231.83. The trade was a 2.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Clifford Burrows purchased 19,200 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $13.11 per share, with a total value of $251,712.00. Following the completion of the acquisition, the director directly owned 19,200 shares in the company, valued at $251,712. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.52% of the company's stock.

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.