Sweetgreen, Inc. (NYSE:SG) Shares Sold by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC decreased its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 45.5% during the fourth quarter, HoldingsChannel reports. The firm owned 51,200 shares of the company’s stock after selling 42,700 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Sweetgreen were worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in SG. GLOBALT Investments LLC GA purchased a new position in Sweetgreen during the 3rd quarter worth approximately $591,000. Oliver Luxxe Assets LLC purchased a new position in shares of Sweetgreen during the third quarter worth $1,973,000. Verition Fund Management LLC lifted its position in Sweetgreen by 189.6% during the third quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock valued at $6,151,000 after purchasing an additional 113,586 shares during the period. Stephens Investment Management Group LLC boosted its holdings in Sweetgreen by 139.9% in the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after purchasing an additional 547,816 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Sweetgreen by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,258,484 shares of the company’s stock worth $44,613,000 after purchasing an additional 148,684 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Insider Transactions at Sweetgreen

In related news, CTO Wouleta Ayele sold 4,347 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $148,015.35. Following the completion of the sale, the chief technology officer now owns 140,302 shares of the company’s stock, valued at approximately $4,777,283.10. This trade represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adrienne Gemperle sold 5,372 shares of Sweetgreen stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $182,916.60. Following the transaction, the insider now owns 107,313 shares in the company, valued at approximately $3,654,007.65. The trade was a 4.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 648,838 shares of company stock valued at $25,065,773 over the last ninety days. Insiders own 21.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SG. The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. UBS Group boosted their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Morgan Stanley dropped their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Oppenheimer decreased their target price on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Citigroup upgraded shares of Sweetgreen from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.00 to $49.00 in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Sweetgreen currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.20.

Sweetgreen Stock Down 0.2 %

Shares of NYSE SG opened at $29.91 on Friday. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -38.65 and a beta of 2.38. The company’s 50-day simple moving average is $35.57 and its 200-day simple moving average is $33.82. Sweetgreen, Inc. has a 52-week low of $10.21 and a 52-week high of $45.12.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. The firm had revenue of $173.43 million during the quarter, compared to analyst estimates of $173.67 million. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. Equities research analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal 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.