Nicholas Investment Partners LP Acquires 33,506 Shares of Sweetgreen, Inc. (NYSE:SG)

Nicholas Investment Partners LP increased its holdings in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 26.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 162,019 shares of the company's stock after purchasing an additional 33,506 shares during the period. Nicholas Investment Partners LP owned approximately 0.14% of Sweetgreen worth $5,194,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SG. Cox Capital Mgt LLC lifted its holdings in shares of Sweetgreen by 76.0% in the fourth quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company's stock valued at $1,728,000 after purchasing an additional 23,278 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Sweetgreen by 55.3% in the fourth quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock valued at $403,000 after purchasing an additional 4,474 shares in the last quarter. Moody National Bank Trust Division bought a new position in shares of Sweetgreen in the fourth quarter valued at approximately $1,182,000. Envestnet Asset Management Inc. lifted its holdings in shares of Sweetgreen by 54.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock valued at $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 third quarter. Franklin Resources Inc. now owns 111,074 shares of the company's stock valued at $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.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SG shares. Morgan Stanley dropped their target price on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. UBS Group dropped their price target on Sweetgreen from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Royal Bank of Canada restated an "outperform" rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Tuesday, February 25th. Citigroup lowered their target price 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, Oppenheimer dropped their price objective on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.00.

Insider Buying and Selling

In other news, COO Rossann Williams sold 4,977 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $118,452.60. Following the completion of the transaction, the chief operating officer now owns 95,516 shares in the company, valued at $2,273,280.80. This trade represents a 4.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mitch Reback sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $21.07, for a total value of $84,280.00. Following the completion of the transaction, the chief financial officer now owns 344,509 shares of the company's stock, valued at approximately $7,258,804.63. The trade was a 1.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,852 shares of company stock worth $871,417 in the last ninety days. 21.52% of the stock is owned by insiders.

Sweetgreen Price Performance

NYSE SG traded down $0.37 during trading on Monday, reaching $14.66. The company's stock had a trading volume of 1,265,970 shares, compared to its average volume of 3,444,068. The stock has a market capitalization of $1.72 billion, a PE ratio of -18.81 and a beta of 2.31. The firm has a fifty day moving average of $20.89 and a 200 day moving average of $28.62. Sweetgreen, Inc. has a one year low of $14.61 and a one year high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, meeting 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 company's revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.23) EPS. Research analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

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.