Royal Fund Management LLC Sells 112,058 Shares of Sweetgreen, Inc. $SG

Royal Fund Management LLC reduced its position in shares of Sweetgreen, Inc. (NYSE:SG) by 47.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 122,442 shares of the company’s stock after selling 112,058 shares during the quarter. Royal Fund Management LLC’s holdings in Sweetgreen were worth $1,822,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc acquired a new position in Sweetgreen in the 2nd quarter valued at $30,000. Nisa Investment Advisors LLC boosted its position in shares of Sweetgreen by 98.2% in the second quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock valued at $32,000 after acquiring an additional 1,055 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Sweetgreen by 312.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock valued at $42,000 after acquiring an additional 2,127 shares during the period. LVW Advisors LLC acquired a new position in shares of Sweetgreen in the second quarter valued at about $159,000. Finally, Kingswood Wealth Advisors LLC bought a new position in Sweetgreen during the second quarter worth about $170,000. 95.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Sweetgreen Trading Down 0.6%

Shares of Sweetgreen stock opened at $6.91 on Friday. The company has a market cap of $817.94 million, a PE ratio of -7.12 and a beta of 1.93. The company has a 50 day moving average of $6.93 and a 200-day moving average of $10.10. Sweetgreen, Inc. has a 1-year low of $5.14 and a 1-year high of $42.65.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Friday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.67%. The firm had revenue of $172.39 million during the quarter, compared to the consensus estimate of $179.29 million. During the same period last year, the business earned ($0.18) earnings per share. The business’s revenue was down .6% compared to the same quarter last year. Research analysts forecast that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Citigroup reiterated a “buy” rating on shares of Sweetgreen in a research note on Wednesday, November 12th. Sanford C. Bernstein set a $8.00 price target on shares of Sweetgreen in a research report on Wednesday, October 22nd. William Blair reiterated a “market perform” rating on shares of Sweetgreen in a research note on Friday, November 7th. Zacks Research upgraded Sweetgreen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, The Goldman Sachs Group cut Sweetgreen from a “buy” rating to a “sell” rating and set a $5.00 price objective for the company. in a report 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 stock. According to MarketBeat, Sweetgreen has an average rating of “Hold” and a consensus target price of $11.82.

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.