Sachetta LLC Has $139,000 Stock Position in Sweetgreen, Inc. (NYSE:SG)

Sachetta LLC increased its stake in Sweetgreen, Inc. (NYSE:SG) by 37.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,324 shares of the company’s stock after buying an additional 1,182 shares during the quarter. Sachetta LLC’s holdings in Sweetgreen were worth $139,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in Sweetgreen during the third quarter worth $35,000. KBC Group NV increased its stake in shares of Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares during the last quarter. Quest Partners LLC raised its holdings in shares of Sweetgreen by 68.4% in the 3rd quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock valued at $151,000 after purchasing an additional 1,728 shares during the period. Daiwa Securities Group Inc. acquired a new stake in Sweetgreen in the 3rd quarter valued at about $155,000. Finally, Canton Hathaway LLC bought a new position in Sweetgreen during the third quarter worth about $177,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Performance

Shares of NYSE:SG opened at $30.07 on Friday. Sweetgreen, Inc. has a 12-month low of $10.21 and a 12-month high of $45.12. The company’s 50 day moving average price is $35.50 and its two-hundred day moving average price is $33.85.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The company had revenue of $173.43 million during the quarter, compared to the consensus estimate of $173.67 million. During the same quarter last year, the firm posted ($0.22) earnings per share. As a group, sell-side analysts forecast that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on SG. TD Cowen restated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. KeyCorp assumed coverage on Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Citigroup raised shares of Sweetgreen from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $49.00 in a research report on Friday, January 10th. UBS Group upped their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Oppenheimer cut their target price on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.20.

Insider Activity

In related news, CFO Mitch Reback sold 8,000 shares of Sweetgreen stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total value of $265,040.00. Following the transaction, the chief financial officer now directly owns 350,981 shares of the company’s stock, valued at $11,628,000.53. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicolas Jammet sold 170,199 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $37.73, for a total value of $6,421,608.27. Following the sale, the insider now owns 1,760,034 shares of the company’s stock, valued at $66,406,082.82. The trade was a 8.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 648,838 shares of company stock worth $25,065,773. 21.52% of the stock is currently owned by company insiders.

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.