Boston Financial Mangement LLC Sells 12,006 Shares of Sweetgreen, Inc. (NYSE:SG)

Boston Financial Mangement LLC lowered its position in shares of Sweetgreen, Inc. (NYSE:SG) by 55.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,562 shares of the company’s stock after selling 12,006 shares during the period. Boston Financial Mangement LLC’s holdings in Sweetgreen were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC bought a new stake in shares of Sweetgreen during the second quarter valued at approximately $76,000. Atomi Financial Group Inc. bought a new stake in Sweetgreen in the 3rd quarter worth approximately $216,000. Versor Investments LP bought a new stake in Sweetgreen in the 2nd quarter worth approximately $217,000. Precision Wealth Strategies LLC bought a new stake in Sweetgreen in the 3rd quarter worth approximately $227,000. Finally, LVW Advisors LLC bought a new stake in Sweetgreen in the 3rd quarter worth approximately $229,000. Institutional investors own 95.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on SG shares. Morgan Stanley lifted their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Citigroup lifted their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. TD Cowen reaffirmed a “buy” rating and issued a $43.00 target price on shares of Sweetgreen in a research report on Friday, September 27th. Piper Sandler reaffirmed a “neutral” rating and issued a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Finally, UBS Group lifted their price target on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Insider Activity at Sweetgreen

In related news, CFO Mitch Reback sold 9,156 shares of Sweetgreen stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.61, for a total transaction of $335,201.16. Following the transaction, the chief financial officer now owns 379,181 shares in the company, valued at approximately $13,881,816.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Mitch Reback sold 9,156 shares of Sweetgreen stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.61, for a total transaction of $335,201.16. Following the transaction, the chief financial officer now owns 379,181 shares in the company, valued at approximately $13,881,816.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan Neman sold 169,772 shares of Sweetgreen stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $69,044,255.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 426,061 shares of company stock worth $15,071,720. 21.52% of the stock is owned by corporate insiders.

Sweetgreen Price Performance

Shares of Sweetgreen stock opened at $38.50 on Wednesday. The company’s fifty day simple moving average is $34.78 and its 200-day simple moving average is $30.46. The stock has a market capitalization of $4.39 billion, a PE ratio of -46.95 and a beta of 2.33. Sweetgreen, Inc. has a 1-year low of $8.64 and a 1-year high of $40.20.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share 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 firm had revenue of $184.60 million for the quarter, compared to analysts’ expectations of $180.79 million. During the same quarter last year, the firm posted ($0.20) EPS. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, research analysts anticipate that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Sweetgreen 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.