Sweetgreen, Inc. (NYSE:SG) Shares Purchased by Graham Capital Management L.P.

Graham Capital Management L.P. lifted its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 104,122 shares of the company's stock after buying an additional 21,512 shares during the quarter. Graham Capital Management L.P. owned approximately 0.09% of Sweetgreen worth $3,338,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SG. Granahan Investment Management LLC increased its stake in Sweetgreen by 184.8% in the fourth quarter. Granahan Investment Management LLC now owns 1,022,397 shares of the company's stock worth $32,778,000 after purchasing an additional 663,347 shares during the period. Fund 1 Investments LLC purchased a new stake in shares of Sweetgreen during the 4th quarter valued at $140,000. Frontier Capital Management Co. LLC increased its position in Sweetgreen by 189.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company's stock valued at $36,369,000 after buying an additional 743,157 shares in the last quarter. Centiva Capital LP increased its holdings in shares of Sweetgreen by 141.1% during the fourth quarter. Centiva Capital LP now owns 63,649 shares of the company's stock valued at $2,041,000 after acquiring an additional 37,250 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Sweetgreen in the fourth quarter worth $228,000. Institutional investors own 95.75% of the company's stock.

Sweetgreen Price Performance

Shares of NYSE:SG traded down $0.07 during mid-day trading on Friday, reaching $15.17. 2,148,803 shares of the company were exchanged, compared to its average volume of 3,433,866. Sweetgreen, Inc. has a 1 year low of $14.61 and a 1 year high of $45.12. The firm's 50-day simple moving average is $21.09 and its 200 day simple moving average is $28.89. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -19.45 and a beta of 2.31.

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

Insider Transactions at Sweetgreen

In related news, CFO Mitch Reback sold 10,926 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the transaction, the chief financial officer now directly owns 344,055 shares of the company's stock, valued at $9,093,373.65. The trade was a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jonathan Neman sold 5,717 shares of the company's stock in a transaction dated Monday, March 17th. The stock was 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. This trade represents a 0.31% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,852 shares of company stock valued at $871,417. 21.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SG. Piper Sandler cut their price target on Sweetgreen from $27.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. JPMorgan Chase & Co. reduced their target price on Sweetgreen from $25.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday. The Goldman Sachs Group lowered their price target on Sweetgreen from $27.00 to $23.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Morgan Stanley lowered their target price on shares of Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Finally, Citigroup dropped their target price on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

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.