Liberty One Investment Management LLC Buys 9,148 Shares of Sweetgreen, Inc. $SG

Liberty One Investment Management LLC raised its stake in Sweetgreen, Inc. (NYSE:SG) by 50.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,168 shares of the company’s stock after buying an additional 9,148 shares during the period. Liberty One Investment Management LLC’s holdings in Sweetgreen were worth $404,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SG. Oppenheimer Asset Management Inc. grew its position in shares of Sweetgreen by 51.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 38,826 shares of the company’s stock valued at $971,000 after buying an additional 13,130 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Sweetgreen by 81.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 48,070 shares of the company’s stock valued at $1,203,000 after buying an additional 21,625 shares during the last quarter. Spire Wealth Management grew its position in shares of Sweetgreen by 47.1% in the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock valued at $50,000 after buying an additional 635 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Sweetgreen by 19,183.8% in the 1st quarter. Bessemer Group Inc. now owns 20,248 shares of the company’s stock valued at $507,000 after buying an additional 20,143 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of Sweetgreen by 50.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,280 shares of the company’s stock valued at $332,000 after buying an additional 4,474 shares during the last quarter. Institutional investors own 95.75% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Mitch Reback sold 11,530 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.19, for a total transaction of $105,960.70. Following the transaction, the chief financial officer directly owned 322,891 shares of the company’s stock, valued at approximately $2,967,368.29. This represents a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.78% of the company’s stock.

Sweetgreen Stock Performance

SG stock opened at $8.12 on Wednesday. The stock’s 50 day simple moving average is $8.48 and its 200 day simple moving average is $12.84. Sweetgreen, Inc. has a fifty-two week low of $7.23 and a fifty-two week high of $45.12. The company has a market cap of $960.22 million, a P/E ratio of -9.67 and a beta of 1.97.

Sweetgreen (NYSE:SG) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%.The firm had revenue of $185.58 million for the quarter, compared to analyst estimates of $193.47 million. During the same period last year, the company posted ($0.13) earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. Sweetgreen has set its FY 2025 guidance at EPS. Equities analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their price target on Sweetgreen from $19.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Morgan Stanley set a $10.00 price objective on Sweetgreen in a research note on Tuesday. Piper Sandler dropped their price objective on Sweetgreen from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Barclays dropped their price objective on Sweetgreen from $17.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, August 8th. Finally, TD Cowen dropped their price objective on Sweetgreen from $15.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.73.

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.