Certuity LLC Has $2.39 Million Position in Sweetgreen, Inc. $SG

Certuity LLC increased its holdings in Sweetgreen, Inc. (NYSE:SG) by 110.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the company’s stock after purchasing an additional 157,500 shares during the period. Certuity LLC owned approximately 0.25% of Sweetgreen worth $2,394,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Sweetgreen by 1.4% during the third quarter. Vanguard Group Inc. now owns 9,593,744 shares of the company’s stock valued at $76,558,000 after purchasing an additional 129,572 shares in the last quarter. Greenhouse Funds LLLP raised its holdings in shares of Sweetgreen by 82.8% in the 3rd quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company’s stock worth $31,496,000 after buying an additional 1,788,175 shares in the last quarter. Spyglass Capital Management LLC raised its holdings in shares of Sweetgreen by 15.2% in the 2nd quarter. Spyglass Capital Management LLC now owns 3,899,813 shares of the company’s stock worth $58,029,000 after buying an additional 513,643 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Sweetgreen by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,420,856 shares of the company’s stock worth $36,027,000 after buying an additional 54,538 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Sweetgreen by 240.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,692,838 shares of the company’s stock valued at $13,509,000 after buying an additional 1,196,222 shares in the last quarter. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Performance

Sweetgreen stock opened at $5.41 on Friday. The business’s fifty day moving average is $6.31 and its two-hundred day moving average is $7.01. The firm has a market cap of $640.26 million, a P/E ratio of -4.74 and a beta of 1.93. Sweetgreen, Inc. has a 52 week low of $4.99 and a 52 week high of $27.15.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). The business had revenue of $155.19 million during the quarter, compared to analyst estimates of $159.59 million. Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.25) earnings per share. On average, equities research analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SG. The Goldman Sachs Group upped their price target on Sweetgreen from $5.00 to $5.60 and gave the company a “sell” rating in a research report on Wednesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of Sweetgreen from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada lowered their target price on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Sanford C. Bernstein set a $7.00 target price on shares of Sweetgreen in a research report on Wednesday, January 7th. Finally, Barclays lifted their price target on shares of Sweetgreen from $5.00 to $7.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.22.

Insiders Place Their Bets

In related news, insider Nicolas Jammet acquired 4,428 shares of the stock in a transaction on Thursday, March 5th. The stock was purchased at an average price of $5.71 per share, for a total transaction of $25,283.88. Following the transaction, the insider owned 22,543 shares of the company’s stock, valued at $128,720.53. The trade was a 24.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 19.78% of the company’s stock.

About Sweetgreen

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.