Sweetgreen, Inc. $SG Shares Sold by RPG Investment Advisory LLC

RPG Investment Advisory LLC cut its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 34.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 406,480 shares of the company’s stock after selling 209,711 shares during the quarter. RPG Investment Advisory LLC’s holdings in Sweetgreen were worth $2,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SG. Larson Financial Group LLC raised its holdings in Sweetgreen by 165.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after buying an additional 2,349 shares during the period. Bogart Wealth LLC lifted its position in Sweetgreen by 1,150.0% in the third quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock valued at $40,000 after buying an additional 4,600 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Sweetgreen by 124.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock worth $50,000 after buying an additional 3,484 shares during the period. Eastern Bank boosted its stake in Sweetgreen by 228.5% during the fourth quarter. Eastern Bank now owns 8,780 shares of the company’s stock worth $59,000 after buying an additional 6,107 shares during the period. Finally, Centurion Wealth Management LLC acquired a new stake in shares of Sweetgreen during the fourth quarter valued at about $75,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SG. Barclays boosted their price target on shares of Sweetgreen from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Citizens Jmp assumed coverage on shares of Sweetgreen in a report on Monday, March 30th. They issued a “mkt underperform” rating and a $4.50 target price for the company. BNP Paribas Exane raised Sweetgreen to a “strong sell” rating in a research report on Monday, March 30th. Sanford C. Bernstein set a $7.00 price target on Sweetgreen in a research note on Wednesday, January 7th. Finally, The Goldman Sachs Group raised their price target on Sweetgreen from $5.00 to $5.60 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.84.

Insider Buying and Selling

In other Sweetgreen news, insider Nicolas Jammet purchased 4,428 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was acquired at an average price of $5.71 per share, for a total transaction of $25,283.88. Following the completion of the purchase, the insider directly owned 22,543 shares in the company, valued at approximately $128,720.53. The trade was a 24.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.78% of the stock is owned by corporate insiders.

Sweetgreen Stock Performance

Shares of SG opened at $5.38 on Friday. The company’s 50-day simple moving average is $5.61 and its 200-day simple moving average is $6.60. Sweetgreen, Inc. has a 1 year low of $4.49 and a 1 year high of $24.47. The stock has a market capitalization of $637.30 million, a PE ratio of -4.72 and a beta of 1.90.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data 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). Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The business had revenue of $155.19 million during the quarter, compared to analyst estimates of $159.59 million. During the same quarter last year, the firm posted ($0.25) EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, sell-side analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Sweetgreen Company Profile

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.