Bosun Asset Management LLC Reduces Position in Sweetgreen, Inc. (NYSE:SG)

Bosun Asset Management LLC reduced its holdings in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,590 shares of the company's stock after selling 26,029 shares during the quarter. Sweetgreen accounts for 2.5% of Bosun Asset Management LLC's portfolio, making the stock its 4th largest position. Bosun Asset Management LLC owned about 0.16% of Sweetgreen worth $5,822,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors acquired a new stake in shares of Sweetgreen in the fourth quarter valued at about $228,000. Cary Street Partners Financial LLC purchased a new position in Sweetgreen in the 4th quarter worth approximately $1,122,000. Bank of America Corp DE grew its position in Sweetgreen by 46.0% in the fourth quarter. Bank of America Corp DE now owns 883,157 shares of the company's stock valued at $28,314,000 after acquiring an additional 278,305 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Sweetgreen during the fourth quarter valued at approximately $739,000. Finally, Comerica Bank lifted its position in shares of Sweetgreen by 278.0% during the fourth quarter. Comerica Bank now owns 134,557 shares of the company's stock worth $4,314,000 after purchasing an additional 98,956 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on SG. Royal Bank of Canada reiterated an "outperform" rating and issued a $45.00 price objective on shares of Sweetgreen in a report on Tuesday, February 25th. UBS Group cut their price target on Sweetgreen from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday. Citigroup lowered their price objective on Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Morgan Stanley reduced their target price on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, Oppenheimer decreased their price objective on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a report on Friday. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Sweetgreen has a consensus rating of "Moderate Buy" and a consensus price target of $32.18.

Sweetgreen Stock Down 15.6 %

Shares of NYSE:SG traded down $2.84 during trading on Friday, hitting $15.33. 19,041,978 shares of the company traded hands, compared to its average volume of 3,482,086. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -19.65 and a beta of 2.31. Sweetgreen, Inc. has a one year low of $14.62 and a one year high of $45.12. The business's fifty day moving average is $21.74 and its 200-day moving average is $29.50.

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

Insider Buying and Selling

In other news, CEO Jonathan Neman sold 5,717 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the completion of the transaction, the chief executive officer now owns 1,810,263 shares of the company's stock, valued at approximately $43,084,259.40. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mitch Reback sold 10,926 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total value of $288,774.18. Following the transaction, the chief financial officer now directly owns 344,055 shares in the company, valued at $9,093,373.65. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,852 shares of company stock valued at $871,417 in the last quarter. Company insiders own 21.52% of the company's stock.

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.