Sweetgreen, Inc. (NYSE:SG) Stake Increased by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lifted its position in Sweetgreen, Inc. (NYSE:SG) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,800 shares of the company’s stock after acquiring an additional 7,100 shares during the period. Lisanti Capital Growth LLC’s holdings in Sweetgreen were worth $4,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of Sweetgreen in the fourth quarter valued at approximately $104,000. Handelsbanken Fonder AB bought a new stake in shares of Sweetgreen during the 4th quarter worth $137,000. Perigon Wealth Management LLC purchased a new position in shares of Sweetgreen in the 1st quarter valued at approximately $223,000. Moloney Securities Asset Management LLC bought a new stake in Sweetgreen during the 2nd quarter valued at $256,000. Finally, Entropy Technologies LP purchased a new stake in Sweetgreen in the 1st quarter worth approximately $279,000. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Down 0.1 %

Sweetgreen stock traded down $0.02 during midday trading on Friday, reaching $31.61. The stock had a trading volume of 1,740,090 shares, compared to its average volume of 4,406,350. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of -33.99 and a beta of 2.30. Sweetgreen, Inc. has a 52-week low of $8.64 and a 52-week high of $38.53. The company has a fifty day moving average of $29.06 and a 200 day moving average of $25.87.

Sweetgreen (NYSE:SG) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $180.79 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. Equities research analysts predict that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on SG. Bank of America upped their price objective on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Citigroup raised their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. UBS Group upped their price target on Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. The Goldman Sachs Group initiated coverage on shares of Sweetgreen in a research report on Thursday, June 13th. They issued a “buy” rating and a $39.00 price target on the stock. Finally, Royal Bank of Canada lifted their price objective on shares of Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Insiders Place Their Bets

In other news, CEO Jonathan Neman sold 169,772 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at $69,044,255.56. The sale was disclosed in a legal filing 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 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 value of $6,072,744.44. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $69,044,255.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adrienne Gemperle sold 3,868 shares of the firm’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 in the company, valued at $4,169,913.02. The disclosure for this sale can be found here. Insiders have sold a total of 521,116 shares of company stock worth $17,823,867 over the last quarter. Company insiders own 21.52% of the company’s stock.

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.