Stephens Investment Management Group LLC Sells 48,530 Shares of Sweetgreen, Inc. (NYSE:SG)

Stephens Investment Management Group LLC lessened its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 5.2% in the 4th quarter, Holdings Channel reports. The firm owned 890,805 shares of the company’s stock after selling 48,530 shares during the period. Stephens Investment Management Group LLC’s holdings in Sweetgreen were worth $28,559,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SG. Hollencrest Capital Management purchased a new stake in Sweetgreen during the third quarter valued at $35,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Sweetgreen in the 4th quarter worth about $62,000. KBC Group NV raised its position in shares of Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after buying an additional 704 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Sweetgreen by 68.4% in the 3rd quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock valued at $151,000 after acquiring an additional 1,728 shares during the last quarter. Finally, Sachetta LLC grew its position in Sweetgreen by 37.6% in the fourth quarter. Sachetta LLC now owns 4,324 shares of the company’s stock worth $139,000 after acquiring an additional 1,182 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Trading Down 4.6 %

Shares of Sweetgreen stock opened at $29.30 on Monday. Sweetgreen, Inc. has a 12-month low of $10.93 and a 12-month high of $45.12. The firm’s 50 day simple moving average is $33.78 and its two-hundred day simple moving average is $34.47. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -37.56 and a beta of 2.37.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The firm had revenue of $173.43 million during the quarter, compared to analysts’ expectations of $173.67 million. Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. During the same quarter last year, the business earned ($0.22) EPS. On average, sell-side analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen restated a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. KeyCorp began coverage on Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Citigroup raised shares of Sweetgreen from a “neutral” rating to a “buy” rating and raised their target price for the company from $44.00 to $49.00 in a research report on Friday, January 10th. UBS Group upped their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Morgan Stanley decreased their target price on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $41.20.

Insider Transactions at Sweetgreen

In related news, CEO Jonathan Neman sold 14,745 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $663,525.00. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $86,860,260. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Adrienne Gemperle sold 5,372 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $182,916.60. Following the completion of the sale, the insider now directly owns 107,313 shares in the company, valued at approximately $3,654,007.65. The trade was a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 608,877 shares of company stock worth $23,466,012 over the last three months. 21.52% of the stock is currently owned by insiders.

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.