Sweetgreen, Inc. (NYSE:SG) Holdings Decreased by Forum Financial Management LP

Forum Financial Management LP lessened its stake in Sweetgreen, Inc. (NYSE:SG) by 31.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,903 shares of the company’s stock after selling 3,118 shares during the period. Forum Financial Management LP’s holdings in Sweetgreen were worth $208,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in shares of Sweetgreen by 6.2% in the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock valued at $371,516,000 after acquiring an additional 721,740 shares in the last quarter. Vanguard Group Inc. boosted its stake in Sweetgreen by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock valued at $212,713,000 after purchasing an additional 70,395 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sweetgreen by 38.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock valued at $19,549,000 after purchasing an additional 476,998 shares during the period. Hood River Capital Management LLC bought a new stake in shares of Sweetgreen in the 1st quarter worth $29,105,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Sweetgreen in the second quarter valued at $33,449,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Trading Down 0.1 %

Shares of SG stock opened at $31.61 on Friday. Sweetgreen, Inc. has a 1-year low of $8.64 and a 1-year high of $38.53. The stock’s fifty day simple moving average is $29.06 and its 200-day simple moving average is $25.87.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $184.60 million for the quarter, compared to analysts’ expectations of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The company’s revenue was up 21.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.20) EPS. Equities analysts predict that Sweetgreen, Inc. will post -0.75 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Oppenheimer increased their target price on shares of Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. William Blair restated an “outperform” rating on shares of Sweetgreen in a research report on Wednesday, May 15th. Finally, TD Cowen increased their price objective on Sweetgreen from $26.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, June 13th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Insider Activity at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 150,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $30.50, for a total value of $4,575,000.00. Following the completion of the sale, the chief executive officer now owns 2,100,000 shares in the company, valued at approximately $64,050,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Sweetgreen news, CEO Jonathan Neman sold 150,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $30.50, for a total value of $4,575,000.00. Following the transaction, the chief executive officer now owns 2,100,000 shares in the company, valued at $64,050,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mitch Reback sold 9,156 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.61, for a total value of $335,201.16. Following the sale, the chief financial officer now directly owns 379,181 shares of the company’s stock, valued at $13,881,816.41. The disclosure for this sale can be found here. Over the last three months, insiders have sold 521,116 shares of company stock valued at $17,823,867. Corporate insiders own 21.52% of the company’s stock.

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.