Versor Investments LP Sells 25,801 Shares of Sweetgreen, Inc. (NYSE:SG)

Versor Investments LP lessened its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 46.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,000 shares of the company's stock after selling 25,801 shares during the quarter. Versor Investments LP's holdings in Sweetgreen were worth $339,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SG. Bank of New York Mellon Corp boosted its position in shares of Sweetgreen by 6.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 343,549 shares of the company's stock valued at $4,037,000 after acquiring an additional 19,538 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Sweetgreen by 31.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,505 shares of the company's stock worth $570,000 after acquiring an additional 11,500 shares during the last quarter. Summit Trail Advisors LLC grew its position in Sweetgreen by 88.1% in the third quarter. Summit Trail Advisors LLC now owns 20,975 shares of the company's stock worth $246,000 after acquiring an additional 9,823 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Sweetgreen by 867.6% in the third quarter. Panagora Asset Management Inc. now owns 180,521 shares of the company's stock valued at $2,121,000 after acquiring an additional 161,865 shares during the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in Sweetgreen during the third quarter valued at about $29,000. 95.75% of the stock is currently owned by institutional investors.

Insider Activity

In other Sweetgreen news, CEO Jonathan Neman sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $11.55, for a total transaction of $57,750.00. Following the completion of the transaction, the chief executive officer now owns 2,100,000 shares of the company's stock, valued at $24,255,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jonathan Neman sold 5,000 shares of the company's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $11.55, for a total value of $57,750.00. Following the transaction, the chief executive officer now owns 2,100,000 shares in the company, valued at approximately $24,255,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mitch Reback sold 29,475 shares of the firm's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $21.01, for a total transaction of $619,269.75. Following the sale, the chief financial officer now owns 405,584 shares of the company's stock, valued at $8,521,319.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,267 shares of company stock worth $2,090,933. Corporate insiders own 21.52% of the company's stock.

Sweetgreen Trading Down 1.2 %

NYSE SG traded down $0.40 during trading on Tuesday, hitting $31.96. The company had a trading volume of 2,779,572 shares, compared to its average volume of 2,516,571. The company's fifty day moving average is $22.93 and its 200-day moving average is $15.11. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -34.37 and a beta of 2.22. Sweetgreen, Inc. has a one year low of $8.64 and a one year high of $34.45.

Sweetgreen (NYSE:SG - Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). Sweetgreen had a negative return on equity of 20.45% and a negative net margin of 17.15%. The firm had revenue of $157.85 million for the quarter, compared to analysts' expectations of $152.02 million. During the same quarter last year, the company posted ($0.29) EPS. The firm's revenue was up 26.2% on a year-over-year basis. As a group, equities analysts anticipate that Sweetgreen, Inc. will post -0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SG shares. Morgan Stanley increased their price objective on Sweetgreen from $16.00 to $17.00 and gave the company an "underweight" rating in a research report on Friday. Royal Bank of Canada lifted their target price on shares of Sweetgreen from $20.00 to $35.00 and gave the stock an "outperform" rating in a research report on Friday. Piper Sandler upped their price target on shares of Sweetgreen from $16.00 to $19.00 and gave the company an "overweight" rating in a research report on Friday, March 1st. Citigroup raised their price target on Sweetgreen from $25.00 to $28.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on Sweetgreen from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $25.75.

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.