Panoramic Capital LLC Takes $1.28 Million Position in Sweetgreen, Inc. (NYSE:SG)

Panoramic Capital LLC bought a new stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 39,790 shares of the company's stock, valued at approximately $1,276,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cox Capital Mgt LLC boosted its holdings in shares of Sweetgreen by 76.0% during the 4th quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company's stock worth $1,728,000 after buying an additional 23,278 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Sweetgreen by 55.3% during the 4th quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock worth $403,000 after buying an additional 4,474 shares in the last quarter. Moody National Bank Trust Division bought a new position in shares of Sweetgreen during the 4th quarter worth approximately $1,182,000. Envestnet Asset Management Inc. lifted its holdings in shares of Sweetgreen by 54.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock worth $523,000 after purchasing an additional 5,783 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Sweetgreen by 1,399.0% in the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company's stock worth $4,365,000 after purchasing an additional 103,664 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company's stock.

Insider Buying and Selling

In related news, CFO Mitch Reback sold 10,926 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total value of $288,774.18. Following the sale, the chief financial officer now directly owns 344,055 shares in the company, valued at approximately $9,093,373.65. The trade was a 3.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan Neman sold 5,717 shares of the business'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 $136,064.60. Following the completion of the sale, the chief executive officer now owns 1,810,263 shares in the company, valued at $43,084,259.40. This represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,852 shares of company stock valued at $871,417. 21.52% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SG. Royal Bank of Canada reiterated an "outperform" rating and issued a $45.00 target price on shares of Sweetgreen in a report on Tuesday, February 25th. Piper Sandler cut their target price on Sweetgreen from $27.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. UBS Group dropped their price objective on Sweetgreen from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Citigroup dropped their price objective on Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Morgan Stanley dropped their price objective on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $31.00.

Sweetgreen Trading Down 1.5%

Shares of NYSE:SG traded down $0.23 during midday trading on Friday, reaching $15.00. The company had a trading volume of 4,571,472 shares, compared to its average volume of 3,447,495. The company's 50 day moving average price is $20.89 and its 200 day moving average price is $28.73. The stock has a market cap of $1.76 billion, a P/E ratio of -19.23 and a beta of 2.31. Sweetgreen, Inc. has a 52-week low of $14.61 and a 52-week 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) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.21). The company 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 13.27% and a negative return on equity of 18.82%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.23) EPS. Research analysts forecast that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

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.