Fund 1 Investments LLC Acquires New Holdings in Sweetgreen, Inc. (NYSE:SG)

Fund 1 Investments LLC bought a new stake in Sweetgreen, Inc. (NYSE:SG) in the fourth quarter, Holdings Channel reports. The fund bought 4,375 shares of the company’s stock, valued at approximately $140,000.

Several other large investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA acquired a new stake in shares of Sweetgreen in the fourth quarter valued at $52,558,000. Invesco Ltd. lifted its holdings in Sweetgreen by 40.9% in the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock valued at $176,850,000 after acquiring an additional 1,601,666 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Sweetgreen by 30.1% during the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock valued at $142,106,000 after purchasing an additional 1,025,341 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of Sweetgreen by 189.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company’s stock worth $36,369,000 after purchasing an additional 743,157 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Sweetgreen by 848.5% in the 4th quarter. Voya Investment Management LLC now owns 748,581 shares of the company’s stock worth $24,000,000 after purchasing an additional 669,657 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Trading Down 15.6 %

NYSE SG opened at $15.33 on Friday. The company has a market capitalization of $1.80 billion, a PE ratio of -19.65 and a beta of 2.31. Sweetgreen, Inc. has a 1-year low of $14.61 and a 1-year high of $45.12. The firm’s fifty day simple moving average is $21.74 and its 200-day simple moving average is $29.50.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, hitting the consensus estimate of ($0.21). The company had revenue of $166.30 million for 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 business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.23) EPS. As a group, analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Insider Activity at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 5,717 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $136,064.60. Following the transaction, the chief executive officer now directly owns 1,810,263 shares in the company, valued at $43,084,259.40. This trade represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mitch Reback sold 10,926 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total value of $288,774.18. Following the completion of the sale, the chief financial officer now directly owns 344,055 shares of the company’s stock, valued at $9,093,373.65. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,852 shares of company stock valued at $871,417. 21.52% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 target price on shares of Sweetgreen in a research report on Tuesday, February 25th. TD Securities dropped their price target on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group reduced their price objective on shares of Sweetgreen from $27.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday. Finally, UBS Group cut their price target on shares of Sweetgreen from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Sweetgreen currently has an average rating of “Moderate Buy” and an average target price of $32.18.

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.