Handelsbanken Fonder AB Takes $137,000 Position in Sweetgreen, Inc. (NYSE:SG)

Handelsbanken Fonder AB purchased a new position in Sweetgreen, Inc. (NYSE:SG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,100 shares of the company’s stock, valued at approximately $137,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SG. Bourgeon Capital Management LLC acquired a new stake in shares of Sweetgreen during the third quarter worth $29,000. Clear Harbor Asset Management LLC acquired a new stake in Sweetgreen during the fourth quarter worth about $113,000. Forum Financial Management LP lifted its holdings in Sweetgreen by 12.6% in the third quarter. Forum Financial Management LP now owns 11,262 shares of the company’s stock worth $132,000 after acquiring an additional 1,262 shares during the last quarter. Graham Capital Wealth Management LLC acquired a new position in Sweetgreen in the fourth quarter valued at approximately $139,000. Finally, SG Americas Securities LLC bought a new position in shares of Sweetgreen during the third quarter valued at approximately $241,000. 95.75% of the stock is owned by institutional investors.

Insider Activity

In other Sweetgreen news, insider Adrienne Gemperle sold 4,286 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $12.32, for a total transaction of $52,803.52. Following the sale, the insider now owns 139,693 shares in the company, valued at approximately $1,721,017.76. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Sweetgreen news, insider Adrienne Gemperle sold 4,286 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $12.32, for a total transaction of $52,803.52. Following the sale, the insider now directly owns 139,693 shares of the company’s stock, valued at approximately $1,721,017.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jonathan Neman sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $11.55, for a total value of $57,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at approximately $24,255,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,555 shares of company stock worth $2,214,389. Corporate insiders own 21.52% of the company’s stock.

Sweetgreen Price Performance

NYSE SG opened at $22.10 on Friday. Sweetgreen, Inc. has a 12 month low of $7.56 and a 12 month high of $26.45. The firm has a market capitalization of $2.50 billion, a PE ratio of -22.10 and a beta of 2.22. The company’s 50 day simple moving average is $21.24 and its 200 day simple moving average is $14.33.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Sweetgreen had a negative net margin of 19.41% and a negative return on equity of 21.58%. The firm had revenue of $153.00 million for the quarter, compared to analyst estimates of $152.04 million. During the same quarter last year, the business posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 29.0% compared to the same quarter last year. Sell-side analysts anticipate that Sweetgreen, Inc. will post -0.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on SG. Citigroup boosted their price objective on Sweetgreen from $16.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday. Oppenheimer increased their price objective on shares of Sweetgreen from $17.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. TD Cowen reissued a “hold” rating and set a $17.00 target price on shares of Sweetgreen in a research note on Wednesday, April 10th. Morgan Stanley upped their target price on shares of Sweetgreen from $11.00 to $16.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. lifted their price target on Sweetgreen from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

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.