Nkcfo LLC Purchases Shares of 8,000 Sweetgreen, Inc. (NYSE:SG)

Nkcfo LLC purchased a new position in Sweetgreen, Inc. (NYSE:SG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,000 shares of the company’s stock, valued at approximately $241,000.

Several other institutional investors have also recently made changes to their positions in the stock. Quest Partners LLC purchased a new position in shares of Sweetgreen during the 2nd quarter valued at $76,000. Versor Investments LP purchased a new position in shares of Sweetgreen in the second quarter valued at about $217,000. Perigon Wealth Management LLC bought a new position in shares of Sweetgreen in the first quarter worth about $223,000. Thoroughbred Financial Services LLC purchased a new stake in shares of Sweetgreen during the second quarter worth about $233,000. Finally, Moloney Securities Asset Management LLC bought a new stake in Sweetgreen during the 2nd quarter valued at approximately $256,000. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Price Performance

Shares of NYSE SG opened at $37.01 on Friday. Sweetgreen, Inc. has a 1-year low of $8.64 and a 1-year high of $38.53. The business’s 50 day moving average is $30.22 and its two-hundred day moving average is $27.67. The stock has a market capitalization of $4.19 billion, a P/E ratio of -39.80 and a beta of 2.32.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $184.60 million for the quarter, compared to analysts’ expectations of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.20) EPS. As a group, equities research analysts anticipate that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Oppenheimer upped their price target on Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. UBS Group upped their target price on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Citigroup lifted their price target on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. The Goldman Sachs Group began coverage on shares of Sweetgreen in a research note on Thursday, June 13th. They issued a “buy” rating and a $39.00 price target on the stock. Finally, Piper Sandler restated a “neutral” rating and set a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Insider Transactions at Sweetgreen

In related news, CEO Jonathan Neman sold 17,020 shares of the company’s stock in a transaction dated 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 directly owns 1,930,228 shares in the company, valued at approximately $67,712,398.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Adrienne Gemperle sold 3,868 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.31, for a total transaction of $140,447.08. Following the completion of the sale, the insider now directly owns 114,842 shares of the company’s stock, valued at $4,169,913.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Neman sold 17,020 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $35.08, for a total transaction of $597,061.60. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at $67,712,398.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 426,061 shares of company stock worth $15,071,720. 21.52% of the stock is currently owned by insiders.

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.