Quest Partners LLC Invests $76,000 in Sweetgreen, Inc. (NYSE:SG)

Quest Partners LLC purchased a new stake in shares of Sweetgreen, Inc. (NYSE:SG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,528 shares of the company’s stock, valued at approximately $76,000.

Several other institutional investors have also recently bought and sold shares of the business. Boulder Hill Capital Management LP bought a new stake in shares of Sweetgreen during the fourth quarter valued at approximately $868,000. Conrad N. Hilton Foundation bought a new stake in shares of Sweetgreen during the fourth quarter worth $434,000. Sei Investments Co. acquired a new position in shares of Sweetgreen during the first quarter valued at $1,110,000. Vanguard Group Inc. boosted its holdings in Sweetgreen by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock valued at $94,361,000 after acquiring an additional 224,522 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Sweetgreen in the first quarter worth about $490,000. Institutional investors own 95.75% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SG. Piper Sandler reiterated a “neutral” rating and set a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. JPMorgan Chase & Co. lifted their target price on shares of Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Citigroup raised their price target on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Oppenheimer upped their price objective on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, Morgan Stanley raised 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. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Sweetgreen has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Insider Activity

In other Sweetgreen news, insider Adrienne Gemperle sold 3,868 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $140,447.08. Following the completion of the transaction, the insider now owns 114,842 shares of the company’s stock, valued at approximately $4,169,913.02. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Adrienne Gemperle sold 3,868 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $140,447.08. Following the completion of the transaction, the insider now owns 114,842 shares in the company, valued at approximately $4,169,913.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan Neman sold 17,020 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $35.08, for a total value of $597,061.60. Following the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $67,712,398.24. The disclosure for this sale can be found here. Insiders have sold a total of 426,061 shares of company stock worth $15,071,720 over the last three months. Corporate insiders own 21.52% of the company’s stock.

Sweetgreen Price Performance

NYSE:SG opened at $33.72 on Wednesday. The business’s 50-day simple moving average is $29.79 and its 200-day simple moving average is $27.57. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $38.53. The stock has a market capitalization of $3.82 billion, a PE ratio of -36.26 and a beta of 2.32.

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