Panoramic Capital LLC Buys Shares of 39,790 Sweetgreen, Inc. (NYSE:SG)

Panoramic Capital LLC purchased a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 39,790 shares of the company's stock, valued at approximately $1,276,000.

Other large investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its position in shares of Sweetgreen by 3,571.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after acquiring an additional 741 shares during the period. Tower Research Capital LLC TRC increased its position 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 valued at $50,000 after acquiring an additional 494 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Sweetgreen in the 4th quarter valued at $53,000. Finally, Denver PWM LLC acquired a new position in shares of Sweetgreen in the 4th quarter valued at $60,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Price Performance

Shares of NYSE SG traded down $0.55 on Monday, hitting $14.48. The company's stock had a trading volume of 1,725,551 shares, compared to its average volume of 4,136,893. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -18.57 and a beta of 2.31. The stock has a 50 day moving average of $20.89 and a 200-day moving average of $28.62. Sweetgreen, Inc. has a 12-month low of $14.54 and a 12-month high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, hitting the consensus estimate of ($0.21). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The firm had revenue of $166.30 million during the quarter, compared to analyst estimates of $164.68 million. During the same quarter in the prior year, the business posted ($0.23) earnings per share. Sweetgreen's revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insider Activity at Sweetgreen

In other news, COO Rossann Williams sold 4,977 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $118,452.60. Following the transaction, the chief operating officer now directly owns 95,516 shares in the company, valued at approximately $2,273,280.80. This trade represents a 4.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nathaniel Ru sold 2,123 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $50,527.40. Following the completion of the transaction, the director now owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. The trade was a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,852 shares of company stock valued at $871,417. Corporate insiders own 21.52% of the company's stock.

Analysts Set New Price Targets

SG has been the topic of several analyst reports. Oppenheimer cut their price target on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. JPMorgan Chase & Co. decreased their price target on shares of Sweetgreen from $25.00 to $20.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. TD Securities reiterated a "buy" rating and issued a $25.00 price objective on shares of Sweetgreen in a report on Thursday. The Goldman Sachs Group cut their price target on shares of Sweetgreen from $27.00 to $23.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Finally, Piper Sandler cut their price target on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.