Moloney Securities Asset Management LLC Raises Position in Sweetgreen, Inc. (NYSE:SG)

Moloney Securities Asset Management LLC lifted its stake in Sweetgreen, Inc. (NYSE:SG) by 40.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,900 shares of the company’s stock after buying an additional 3,400 shares during the period. Moloney Securities Asset Management LLC’s holdings in Sweetgreen were worth $422,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Oliver Luxxe Assets LLC purchased a new position in Sweetgreen in the third quarter valued at about $1,973,000. Sei Investments Co. purchased a new position in Sweetgreen in the first quarter valued at about $1,110,000. Davidson Kempner Capital Management LP boosted its holdings in Sweetgreen by 40.1% in the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock valued at $17,330,000 after purchasing an additional 164,600 shares during the last quarter. Zweig DiMenna Associates LLC purchased a new position in Sweetgreen in the third quarter valued at about $3,329,000. Finally, Stephens Investment Management Group LLC boosted its holdings in Sweetgreen by 139.9% in the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after purchasing an additional 547,816 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Insider Transactions at Sweetgreen

In other news, insider Adrienne Gemperle sold 3,868 shares of the 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 sale, the insider now directly owns 114,842 shares in the company, valued at approximately $4,169,913.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jonathan Neman sold 169,772 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.77, for a total value of $6,072,744.44. Following the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $69,044,255.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adrienne Gemperle sold 3,868 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $140,447.08. Following the completion of the sale, the insider now owns 114,842 shares in the company, valued at approximately $4,169,913.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 428,334 shares of company stock worth $15,162,663. 21.52% of the stock is currently owned by company insiders.

Sweetgreen Trading Up 6.3 %

Shares of Sweetgreen stock opened at $41.64 on Thursday. The business’s 50 day simple moving average is $35.03 and its 200-day simple moving average is $31.05. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of -49.30 and a beta of 2.32. Sweetgreen, Inc. has a twelve month low of $8.64 and a twelve month high of $41.65.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $184.60 million for the quarter, compared to analyst estimates 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 for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) earnings per share. Sell-side analysts predict that Sweetgreen, Inc. will post -0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Piper Sandler reissued a “neutral” rating and issued a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Oppenheimer increased their target price on Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. TD Cowen reaffirmed a “buy” rating and set a $43.00 target price on shares of Sweetgreen in a report on Friday, September 27th. Bank of America increased their target price on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, Morgan Stanley increased 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 given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.20.

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.