Price T Rowe Associates Inc. MD Raises Shares in Sweetgreen, Inc. (NYSE:SG)

Price T Rowe Associates Inc. MD increased its stake in Sweetgreen, Inc. (NYSE:SG – Free Report) by 47.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,041 shares of the company’s stock after purchasing an additional 17,750 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Sweetgreen were worth $1,391,000 at the end of the most recent quarter.

A number of other institutional investors have added to or reduced their stakes in SG. Quest Partners LLC bought a new position in Sweetgreen in the fourth quarter valued at approximately $104,000. Triumph Capital Management bought a new position in shares of Sweetgreen in the fourth quarter valued at $126,000. Handelsbanken Fonder AB bought a new stake in Sweetgreen in the fourth quarter valued at $137,000. Perigon Wealth Management LLC purchased a new position in Sweetgreen in the first quarter valued at approximately $223,000. Finally, Entropy Technologies LP bought a new stake in Sweetgreen in the 1st quarter valued at approximately $279,000. 95.75% of shares are owned by institutional investors and hedge funds.

Changes in Analyst Ratings

SG has been the subject of several analyst reports. UBS Group boosted their price objective on shares of Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley upped 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. Oppenheimer upped their target price on Sweetgreen from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday. Goldman Sachs Group assumed coverage on Sweetgreen in a report on Thursday, June 13th. They issued a “buy” rating and a $39.00 target price on the stock. Finally, Citigroup lifted their price objective on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday. Three 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Check out our latest report on SG

Insiders place their bets

In other news, CTO Wouleta Ayele sold 2,748 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $31.35, for a total transaction of $86,149.80. Following the completion of the transaction, the chief technology officer now owns 147,480 shares of the company’s stock, valued at $4,623,498. The sale was disclosed in a filing with the SEC, which is accessible via this hyperlink. In other news, CTO Wouleta Ayele sold 2,748 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $31.35, for a total value of $86,149.80. Following the completion of the sale, the chief technology officer now directly owns 147,480 shares of the company’s stock, valued at $4,623,498. The transaction was disclosed in a legal filing with the SEC, which is accessible via this link. Also, insider Adrienne Gemperle sold 3,889 shares of Sweetgreen stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $31.35, for a total value of $121,920.15. Following the transaction, the insider now directly owns 125,518 shares in the company, valued at $3,934,989.30. The disclosure for this sale can be found here. Insiders have sold 440,692 shares of company stock worth $13,738,038 over the last ninety days. Insiders own 21.52% of the company’s shares.

Sweetgreen stock performance

Shares of NYSE SG opened at $35.00 on Friday. The company has a market cap of $3.97 billion, a price-to-earnings ratio of -37.63 and a beta of 2.30. The company has a 50 day simple moving average of $28.33 and a two hundred day simple moving average of $23.33. Sweetgreen, Inc. it has a fifty-two week low of $8.64 and a fifty-two week high of $36.72.

Sweetgreen (NYSE:SG – Get Your Free Report ) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 17.15% and a negative return on equity of 20.74%. The company had revenue of $184.60 million during the quarter, compared to analysts’ expectations of $180.79 million. During the same period last year, the company earned ($0.20) earnings per share. Sweetgreen’s quarterly revenue was up 21.0% year over year. On average, analysts estimate that Sweetgreen, Inc. will post -0.73 earnings per share for the current fiscal year.

About Sweetgreen

(Free Report)

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy food on a large 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.

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