Precision Wealth Strategies LLC Acquires Shares of 6,401 Sweetgreen, Inc. (NYSE:SG)

Precision Wealth Strategies LLC acquired a new stake in Sweetgreen, Inc. (NYSE:SG) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 6,401 shares of the company’s stock, valued at approximately $227,000.

Several other large investors also recently added to or reduced their stakes in the stock. Oliver Luxxe Assets LLC purchased a new stake in shares of Sweetgreen in the 3rd quarter worth approximately $1,973,000. Sei Investments Co. acquired a new position in Sweetgreen during the 1st quarter valued at approximately $1,110,000. Vanguard Group Inc. increased its stake in Sweetgreen by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock valued at $94,361,000 after purchasing an additional 224,522 shares in the last quarter. Davidson Kempner Capital Management LP increased its stake in Sweetgreen by 40.1% during the 2nd 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 in the last quarter. Finally, Cetera Investment Advisers increased its stake in Sweetgreen by 62.1% during the 2nd quarter. Cetera Investment Advisers now owns 55,354 shares of the company’s stock valued at $1,668,000 after purchasing an additional 21,203 shares in the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sweetgreen news, CTO Wouleta Ayele sold 2,831 shares of the business’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 transaction of $102,793.61. Following the completion of the transaction, the chief technology officer now owns 144,649 shares in the company, valued at $5,252,205.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Sweetgreen news, CTO Wouleta Ayele sold 2,831 shares of the business’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 transaction of $102,793.61. Following the completion of the transaction, the chief technology officer now owns 144,649 shares in the company, valued at $5,252,205.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jonathan Neman sold 169,772 shares of the business’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 transaction of $6,072,744.44. Following the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $69,044,255.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 426,061 shares of company stock valued at $15,071,720 in the last ninety days. Company insiders own 21.52% of the company’s stock.

Sweetgreen Stock Performance

Sweetgreen stock opened at $36.87 on Tuesday. The company’s 50 day simple moving average is $34.49 and its 200-day simple moving average is $29.88. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of -44.96 and a beta of 2.33. Sweetgreen, Inc. has a 1 year low of $8.64 and a 1 year high of $39.75.

Sweetgreen (NYSE:SG) last announced 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). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The business had revenue of $184.60 million for the quarter, compared to analysts’ expectations of $180.79 million. During the same period in the previous year, the company earned ($0.20) earnings per share. Sweetgreen’s quarterly revenue was up 21.0% on a year-over-year basis. Equities analysts expect that Sweetgreen, Inc. will post -0.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on SG shares. TD Cowen restated a “buy” rating and set a $43.00 price target on shares of Sweetgreen in a research note on Friday, September 27th. Oppenheimer increased their price objective on shares of Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Bank of America increased their price objective on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Morgan Stanley raised their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, UBS Group boosted their price target on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.20.

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.