1,000 Shares in Sweetgreen, Inc. (NYSE:SG) Bought by Hollencrest Capital Management

Hollencrest Capital Management acquired a new stake in shares of Sweetgreen, Inc. (NYSE:SG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,000 shares of the company’s stock, valued at approximately $35,000.

Several other hedge funds also recently added to or reduced their stakes in SG. Oliver Luxxe Assets LLC bought a new stake in shares of Sweetgreen in the 3rd quarter valued at approximately $1,973,000. Sei Investments Co. bought a new stake in Sweetgreen during the first quarter valued at $1,110,000. Davidson Kempner Capital Management LP raised its holdings in shares of Sweetgreen by 40.1% during the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock worth $17,330,000 after purchasing an additional 164,600 shares during the period. Zweig DiMenna Associates LLC bought a new position in shares of Sweetgreen in the 3rd quarter worth about $3,329,000. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Sweetgreen by 139.9% in the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after buying an additional 547,816 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Mitch Reback sold 9,156 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $36.61, for a total value of $335,201.16. Following the completion of the sale, the chief financial officer now owns 379,181 shares in the company, valued at $13,881,816.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Sweetgreen news, insider Adrienne Gemperle sold 3,868 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $140,447.08. Following the transaction, the insider now owns 114,842 shares of the company’s stock, valued at approximately $4,169,913.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 9,156 shares of the firm’s stock in a transaction on 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 approximately $13,881,816.41. 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 466,022 shares of company stock worth $16,671,481. 21.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SG shares. TD Cowen raised their target price on shares of Sweetgreen from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley raised their price target on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Piper Sandler restated a “neutral” rating and set a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Oppenheimer raised their target price on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Citigroup upped their price target on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.80.

Sweetgreen Trading Down 5.9 %

Sweetgreen stock opened at $39.69 on Friday. Sweetgreen, Inc. has a 52 week low of $8.64 and a 52 week high of $42.77. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of -48.40 and a beta of 2.32. The company’s 50-day moving average price is $35.59 and its two-hundred day moving average price is $31.40.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) EPS 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 net margin of 14.33% and a negative return on equity of 19.34%. Sweetgreen’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.20) EPS. Research analysts expect that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal 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.