Sequoia Financial Advisors LLC Has $332,000 Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Sequoia Financial Advisors LLC lifted its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 50.8% during the first quarter, Holdings Channel reports. The firm owned 13,280 shares of the company’s stock after purchasing an additional 4,474 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Sweetgreen were worth $332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SG. Bessemer Group Inc. grew its holdings in shares of Sweetgreen by 19,183.8% during the first 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 in the last quarter. Spire Wealth Management grew its holdings in shares of Sweetgreen by 47.1% during the first quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock valued at $50,000 after buying an additional 635 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Sweetgreen by 81.8% during the first 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 in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Sweetgreen by 51.1% during the first 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 in the last quarter. Finally, PSI Advisors LLC grew its holdings in shares of Sweetgreen by 45.8% during the first quarter. PSI Advisors LLC now owns 16,053 shares of the company’s stock valued at $402,000 after buying an additional 5,045 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SG has been the topic of a number of research analyst reports. Wells Fargo & Company reiterated an “overweight” rating and set a $19.00 price target on shares of Sweetgreen in a report on Tuesday. TD Cowen reiterated a “hold” rating and set a $19.00 price target on shares of Sweetgreen in a report on Tuesday. Barclays initiated coverage on Sweetgreen in a report on Friday, June 6th. They set an “equal weight” rating and a $16.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Sweetgreen from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, June 25th. Finally, Oppenheimer lowered their price target on Sweetgreen from $35.00 to $29.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.23.

Insider Activity

In other news, CFO Mitch Reback sold 10,088 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 334,421 shares in the company, valued at approximately $5,093,231.83. This represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Clifford Burrows purchased 19,200 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were bought at an average price of $13.11 per share, with a total value of $251,712.00. Following the purchase, the director owned 19,200 shares in the company, valued at $251,712. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 21.52% of the company’s stock.

Sweetgreen Price Performance

Shares of NYSE SG opened at $14.80 on Friday. The business’s 50-day moving average price is $14.79 and its two-hundred day moving average price is $22.77. Sweetgreen, Inc. has a one year low of $11.86 and a one year high of $45.12. The company has a market capitalization of $1.74 billion, a P/E ratio of -19.21 and a beta of 2.06.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, meeting analysts’ consensus estimates of ($0.21). Sweetgreen had a negative return on equity of 19.72% and a negative net margin of 13.04%. The firm had revenue of $166.30 million for the quarter, compared to the consensus estimate of $164.68 million. During the same quarter in the previous year, the company posted ($0.23) earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current 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.