Jefferies Financial Group Inc. Takes $453,000 Position in Sweetgreen, Inc. $SG

Jefferies Financial Group Inc. bought a new position in shares of Sweetgreen, Inc. (NYSE:SG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 30,421 shares of the company’s stock, valued at approximately $453,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Glass Jacobson Investment Advisors llc purchased a new position in Sweetgreen in the 2nd quarter worth approximately $30,000. Nisa Investment Advisors LLC raised its position in shares of Sweetgreen by 98.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock valued at $32,000 after buying an additional 1,055 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in shares of Sweetgreen by 70.8% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company’s stock worth $103,000 after buying an additional 1,700 shares in the last quarter. LVW Advisors LLC purchased a new position in shares of Sweetgreen in the second quarter worth $159,000. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Sweetgreen during the second quarter worth $170,000. Institutional investors own 95.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SG. Barclays reduced their price target on shares of Sweetgreen from $8.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 10th. Zacks Research raised Sweetgreen from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Citigroup reissued a “buy” rating on shares of Sweetgreen in a research note on Wednesday, November 12th. William Blair restated a “market perform” rating on shares of Sweetgreen in a report on Friday, November 7th. Finally, Oppenheimer set a $10.00 price objective on Sweetgreen in a research note on Friday, November 7th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.82.

Insider Activity

In other news, CEO Jonathan Neman purchased 179,800 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were bought at an average cost of $5.56 per share, for a total transaction of $999,688.00. Following the acquisition, the chief executive officer owned 179,800 shares of the company’s stock, valued at approximately $999,688. This trade represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicolas Jammet acquired 18,115 shares of Sweetgreen stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average cost of $5.51 per share, for a total transaction of $99,813.65. Following the completion of the transaction, the insider directly owned 18,115 shares in the company, valued at $99,813.65. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 19.78% of the stock is currently owned by company insiders.

Sweetgreen Price Performance

NYSE:SG opened at $6.63 on Friday. The firm has a market capitalization of $784.20 million, a price-to-earnings ratio of -6.83 and a beta of 1.94. The business has a 50 day simple moving average of $7.11 and a 200-day simple moving average of $10.41. Sweetgreen, Inc. has a 1 year low of $5.14 and a 1 year high of $43.52.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Friday, November 7th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.13). The company had revenue of $172.39 million for the quarter, compared to analysts’ expectations of $179.29 million. Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.67%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.18) EPS. As a group, analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

About Sweetgreen

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.