Evolutionary Tree Capital Management LLC Increases Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Evolutionary Tree Capital Management LLC boosted its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 65,756 shares of the company’s stock after buying an additional 474 shares during the period. Sweetgreen makes up approximately 2.0% of Evolutionary Tree Capital Management LLC’s holdings, making the stock its 20th largest holding. Evolutionary Tree Capital Management LLC owned approximately 0.06% of Sweetgreen worth $1,982,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in Sweetgreen in the second quarter worth about $76,000. Versor Investments LP bought a new stake in shares of Sweetgreen during the 2nd quarter worth approximately $217,000. Perigon Wealth Management LLC purchased a new position in Sweetgreen during the 1st quarter valued at $223,000. Thoroughbred Financial Services LLC bought a new position in Sweetgreen in the 2nd quarter valued at $233,000. Finally, Nkcfo LLC purchased a new stake in Sweetgreen in the second quarter worth $241,000. 95.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Sweetgreen news, CEO Jonathan Neman sold 17,020 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $35.08, for a total transaction of $597,061.60. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $67,712,398.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jonathan Neman sold 17,020 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $35.08, for a total value of $597,061.60. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $67,712,398.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mitch Reback sold 9,156 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.61, for a total transaction of $335,201.16. Following the transaction, the chief financial officer now directly owns 379,181 shares of the company’s stock, valued at $13,881,816.41. The disclosure for this sale can be found here. Insiders sold 426,061 shares of company stock worth $15,071,720 in the last three months. Corporate insiders own 21.52% of the company’s stock.

Sweetgreen Trading Up 2.8 %

Shares of SG opened at $37.01 on Friday. The firm has a market cap of $4.19 billion, a PE ratio of -39.80 and a beta of 2.32. Sweetgreen, Inc. has a 12 month low of $8.64 and a 12 month high of $38.53. The stock has a fifty day moving average price of $30.46 and a 200-day moving average price of $27.80.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SG shares. TD Cowen upgraded shares of Sweetgreen from a “hold” rating to a “buy” rating and upped their price target for the stock from $31.00 to $43.00 in a report on Wednesday, September 4th. Morgan Stanley raised 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. Bank of America lifted their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. The Goldman Sachs Group began coverage on Sweetgreen in a research note on Thursday, June 13th. They issued a “buy” rating and a $39.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Sweetgreen from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and an average target price of $38.20.

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.