Sweetgreen, Inc. (NYSE:SG) Position Trimmed by Gotham Asset Management LLC

Gotham Asset Management LLC lessened its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 79.3% during the 4th quarter, HoldingsChannel reports. The fund owned 12,845 shares of the company’s stock after selling 49,239 shares during the period. Gotham Asset Management LLC’s holdings in Sweetgreen were worth $412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC lifted its holdings in shares of Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after buying an additional 1,000 shares during the last quarter. Headlands Technologies LLC lifted its holdings in shares of Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after buying an additional 741 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after buying an additional 494 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Sweetgreen during the 4th quarter valued at about $53,000. Finally, Denver PWM LLC acquired a new stake in shares of Sweetgreen during the 4th quarter valued at about $60,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Insider Activity

In other Sweetgreen news, CFO Mitch Reback sold 10,088 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $15.23, for a total transaction of $153,640.24. Following the completion of the transaction, the chief financial officer now directly owns 334,421 shares in the company, valued at $5,093,231.83. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Rossann Williams sold 4,977 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $118,452.60. Following the transaction, the chief operating officer now owns 95,516 shares of the company’s stock, valued at $2,273,280.80. This represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,014 shares of company stock worth $736,283. Company insiders own 21.52% of the company’s stock.

Analyst Ratings Changes

SG has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a report on Tuesday, February 25th. TD Securities restated a “buy” rating and issued a $25.00 target price on shares of Sweetgreen in a report on Thursday, May 15th. The Goldman Sachs Group reduced their target price on Sweetgreen from $27.00 to $23.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Morgan Stanley reduced their target price on Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, May 9th. Finally, UBS Group reduced their target price on Sweetgreen from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Sweetgreen has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Sweetgreen Stock Down 5.2%

Shares of SG stock opened at $14.25 on Tuesday. Sweetgreen, Inc. has a 12 month low of $14.16 and a 12 month high of $45.12. The firm has a market cap of $1.67 billion, a PE ratio of -18.27 and a beta of 2.31. The stock has a 50 day moving average of $20.67 and a 200-day moving average of $28.45.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, hitting analysts’ consensus estimates of ($0.21). The company had revenue of $166.30 million during the quarter, compared to analyst estimates of $164.68 million. Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.23) earnings per share. As a group, equities analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

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.