6,401 Shares in Sweetgreen, Inc. (NYSE:SG) Acquired by Precision Wealth Strategies LLC

Precision Wealth Strategies LLC bought a new position in Sweetgreen, Inc. (NYSE:SG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,401 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in Sweetgreen in the second quarter worth approximately $76,000. Atomi Financial Group Inc. purchased a new position in shares of Sweetgreen during the 3rd quarter worth $216,000. LVW Advisors LLC purchased a new position in shares of Sweetgreen during the 3rd quarter worth $229,000. Versor Investments LP purchased a new position in shares of Sweetgreen during the 2nd quarter worth $217,000. Finally, Thoroughbred Financial Services LLC purchased a new position in shares of Sweetgreen during the 2nd quarter worth $233,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Cowen reiterated a “buy” rating and set a $43.00 price target on shares of Sweetgreen in a research note on Friday, September 27th. UBS Group lifted their target price on shares of Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Oppenheimer lifted their target price on shares of Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Citigroup lifted their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, Bank of America lifted their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Insider Transactions at Sweetgreen

In other news, CEO Jonathan Neman sold 17,020 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $35.08, for a total value of $597,061.60. Following the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $67,712,398.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Jonathan Neman sold 17,020 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $35.08, for a total value of $597,061.60. Following the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $67,712,398.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicolas Jammet sold 169,767 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,565.59. Following the transaction, the insider now owns 1,930,233 shares in the company, valued at $69,044,434.41. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 426,061 shares of company stock worth $15,071,720 in the last three months. Insiders own 21.52% of the company’s stock.

Sweetgreen Stock Performance

Shares of NYSE SG opened at $36.87 on Tuesday. The company has a market cap of $4.21 billion, a P/E ratio of -44.96 and a beta of 2.33. The firm’s fifty day moving average is $34.49 and its two-hundred day moving average is $29.88. Sweetgreen, Inc. has a 52-week low of $8.64 and a 52-week high of $39.75.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The company had revenue of $184.60 million during the quarter, compared to the consensus estimate of $180.79 million. During the same quarter in the prior year, the firm posted ($0.20) earnings per share. The business’s revenue was up 21.0% on a year-over-year basis. As a group, analysts forecast that Sweetgreen, Inc. will post -0.75 EPS for the current fiscal year.

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.