Sequoia Financial Advisors LLC Invests $323,000 in Sweetgreen, Inc. (NYSE:SG)

Sequoia Financial Advisors LLC acquired a new position in Sweetgreen, Inc. (NYSE:SG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 28,552 shares of the company’s stock, valued at approximately $323,000.

Several other institutional investors have also recently made changes to their positions in SG. Baillie Gifford & Co. grew its position in shares of Sweetgreen by 146.1% during the fourth quarter. Baillie Gifford & Co. now owns 5,291,714 shares of the company’s stock worth $45,350,000 after purchasing an additional 3,141,070 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Sweetgreen by 10.1% during the fourth quarter. HighTower Advisors LLC now owns 11,293 shares of the company’s stock worth $97,000 after purchasing an additional 1,036 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Sweetgreen by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 1,395,291 shares of the company’s stock worth $11,957,000 after purchasing an additional 57,732 shares in the last quarter. Credit Suisse AG grew its position in shares of Sweetgreen by 31.9% during the fourth quarter. Credit Suisse AG now owns 487,203 shares of the company’s stock worth $4,175,000 after purchasing an additional 117,711 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Sweetgreen during the fourth quarter worth about $302,000. Institutional investors own 95.75% of the company’s stock.

Insider Activity

In other news, CEO Jonathan Neman sold 58,067 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.36, for a total value of $949,976.12. Following the completion of the sale, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at approximately $34,356,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jonathan Neman sold 58,067 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.36, for a total transaction of $949,976.12. Following the completion of the sale, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at approximately $34,356,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adrienne Gemperle sold 4,286 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $12.32, for a total value of $52,803.52. Following the sale, the insider now directly owns 139,693 shares of the company’s stock, valued at $1,721,017.76. The disclosure for this sale can be found here. Insiders sold 145,555 shares of company stock valued at $2,266,739 in the last ninety days. Insiders own 22.03% of the company’s stock.

Sweetgreen Price Performance

NYSE:SG opened at $20.83 on Friday. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -20.83 and a beta of 2.20. Sweetgreen, Inc. has a 1 year low of $7.25 and a 1 year high of $26.45. The business has a 50 day simple moving average of $19.22 and a 200-day simple moving average of $13.59.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). The company had revenue of $153.00 million during the quarter, compared to the consensus estimate of $152.04 million. Sweetgreen had a negative net margin of 19.41% and a negative return on equity of 21.58%. Sweetgreen’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.44) earnings per share. As a group, analysts expect that Sweetgreen, Inc. will post -0.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley increased their target price on Sweetgreen from $11.00 to $16.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. Royal Bank of Canada raised their price target on Sweetgreen from $13.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, March 4th. TD Cowen restated a “hold” rating and set a $17.00 price target on shares of Sweetgreen in a report on Wednesday, April 10th. Citigroup raised their price target on Sweetgreen from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. raised their price target on Sweetgreen from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.50.

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.