Sweetgreen, Inc. (NYSE:SG) Stock Position Lessened by Castleark Management LLC

Castleark Management LLC trimmed its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 110,267 shares of the company’s stock after selling 4,670 shares during the period. Castleark Management LLC owned approximately 0.10% of Sweetgreen worth $3,535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Sweetgreen by 18.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,552 shares of the company’s stock valued at $7,263,000 after buying an additional 35,276 shares during the period. Spyglass Capital Management LLC lifted its stake in shares of Sweetgreen by 12.0% in the 4th quarter. Spyglass Capital Management LLC now owns 2,296,894 shares of the company’s stock worth $73,638,000 after acquiring an additional 246,283 shares during the period. Twinbeech Capital LP bought a new position in shares of Sweetgreen in the fourth quarter valued at approximately $7,287,000. State of Wyoming increased its stake in shares of Sweetgreen by 98.1% during the fourth quarter. State of Wyoming now owns 5,534 shares of the company’s stock valued at $177,000 after acquiring an additional 2,741 shares during the period. Finally, Silvercrest Asset Management Group LLC acquired a new position in shares of Sweetgreen during the fourth quarter valued at approximately $7,138,000. 95.75% of the stock is currently owned by institutional investors.

Insider Transactions at Sweetgreen

In other news, Director Nathaniel Ru sold 2,123 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the sale, the director now directly owns 1,785,099 shares of the company’s stock, valued at $42,485,356.20. This represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Rossann Williams sold 4,977 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $118,452.60. Following the transaction, the chief operating officer now directly owns 95,516 shares in the company, valued at $2,273,280.80. The trade was a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,014 shares of company stock valued at $736,283 over the last quarter. Company insiders own 21.52% of the company’s stock.

Sweetgreen Price Performance

Shares of SG opened at $12.86 on Thursday. The company has a 50-day moving average of $20.27 and a two-hundred day moving average of $28.25. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -16.48 and a beta of 2.31. Sweetgreen, Inc. has a one year low of $12.81 and a one year high of $45.12.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, hitting analysts’ consensus estimates of ($0.21). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The firm had revenue of $166.30 million during the quarter, compared to analyst estimates of $164.68 million. During the same quarter last year, the business posted ($0.23) EPS. The company’s revenue was up 5.3% on a year-over-year basis. Analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SG shares. TD Securities restated a “buy” rating and issued a $25.00 target price on shares of Sweetgreen in a research report on Thursday, May 15th. Piper Sandler cut their price objective on Sweetgreen from $27.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 target price on shares of Sweetgreen in a report on Tuesday, February 25th. UBS Group dropped their price target on shares of Sweetgreen from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Sweetgreen from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, May 12th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Sweetgreen Company 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.