Nicholas Investment Partners LP Increases Position in Sweetgreen, Inc. (NYSE:SG)

Nicholas Investment Partners LP raised its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 26.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,019 shares of the company's stock after purchasing an additional 33,506 shares during the period. Nicholas Investment Partners LP owned 0.14% of Sweetgreen worth $5,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Summit Investment Advisors Inc. increased its position in shares of Sweetgreen by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock valued at $336,000 after purchasing an additional 473 shares during the last quarter. Cypress Wealth Services LLC grew its position in shares of Sweetgreen by 6.1% in the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company's stock valued at $270,000 after buying an additional 483 shares during the last quarter. Tower Research Capital LLC TRC grew 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 buying an additional 494 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in shares of Sweetgreen by 1.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company's stock valued at $1,608,000 after buying an additional 600 shares during the last quarter. Finally, Oberweis Asset Management Inc. grew its position in shares of Sweetgreen by 0.6% in the 4th quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company's stock valued at $3,084,000 after buying an additional 610 shares during the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sweetgreen

In other news, Director Nathaniel Ru sold 2,123 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the sale, the director now owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. This trade represents a 0.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 4,000 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $21.07, for a total transaction of $84,280.00. Following the completion of the sale, the chief financial officer now owns 344,509 shares of the company's stock, valued at $7,258,804.63. This trade represents a 1.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,852 shares of company stock worth $871,417. Company insiders own 21.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SG. The Goldman Sachs Group dropped their target price on shares of Sweetgreen from $27.00 to $23.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Citigroup dropped their target price on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. TD Securities reaffirmed a "buy" rating and issued a $25.00 target price on shares of Sweetgreen in a research report on Thursday. UBS Group dropped their target price on shares of Sweetgreen from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Sweetgreen from $25.00 to $20.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Five research 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 presently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Sweetgreen Stock Down 1.5%

NYSE:SG traded down $0.23 during trading hours on Friday, reaching $15.00. 4,571,472 shares of the company's stock were exchanged, compared to its average volume of 3,452,264. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -19.23 and a beta of 2.31. The company has a 50-day moving average of $20.89 and a 200 day moving average of $28.67. Sweetgreen, Inc. has a 1-year low of $14.61 and a 1-year 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 firm had revenue of $166.30 million during the quarter, compared to analysts' expectations of $164.68 million. Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. Sweetgreen's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business 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.