Yarra Square Partners LP Has $4.24 Million Stake in Sweetgreen, Inc. (NYSE:SG)

Yarra Square Partners LP reduced its holdings in Sweetgreen, Inc. (NYSE:SG) by 13.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 140,500 shares of the company’s stock after selling 22,500 shares during the period. Sweetgreen makes up about 3.8% of Yarra Square Partners LP’s investment portfolio, making the stock its 12th biggest position. Yarra Square Partners LP owned approximately 0.12% of Sweetgreen worth $4,235,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Baillie Gifford & Co. grew its position in shares of Sweetgreen by 6.2% during the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after buying an additional 721,740 shares during the period. Vanguard Group Inc. grew its position in shares of Sweetgreen by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock worth $212,713,000 after buying an additional 70,395 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Sweetgreen by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock worth $53,151,000 after buying an additional 39,823 shares during the period. Hood River Capital Management LLC acquired a new position in shares of Sweetgreen during the 1st quarter worth about $29,105,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Sweetgreen during the 2nd quarter worth about $33,449,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SG shares. Royal Bank of Canada boosted their target price on Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. JPMorgan Chase & Co. boosted their target price on Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Oppenheimer boosted their target price on Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. The Goldman Sachs Group began coverage on Sweetgreen in a report on Thursday, June 13th. They set a “buy” rating and a $39.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.20.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 17,020 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $35.08, for a total value of $597,061.60. Following the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $67,712,398.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Sweetgreen news, CEO Jonathan Neman sold 17,020 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 of the company’s stock, valued at approximately $67,712,398.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nathaniel Ru sold 9,250 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $28.74, for a total value of $265,845.00. Following the transaction, the insider now directly owns 1,952,129 shares in the company, valued at approximately $56,104,187.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 426,061 shares of company stock worth $15,071,720. Corporate insiders own 21.52% of the company’s stock.

Sweetgreen Stock Performance

NYSE SG opened at $37.01 on Friday. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of -39.80 and a beta of 2.32. The stock’s 50 day moving average price is $30.46 and its two-hundred day moving average price is $27.80. Sweetgreen, Inc. has a 52 week low of $8.64 and a 52 week high of $38.53.

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

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.