Ibex Investors LLC grew its position in Sweetgreen, Inc. (NYSE:SG – Free Report) by 5,058.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 825,400 shares of the company’s stock after purchasing an additional 809,400 shares during the period. Sweetgreen accounts for about 3.9% of Ibex Investors LLC’s portfolio, making the stock its 6th largest holding. Ibex Investors LLC’s holdings in Sweetgreen were worth $5,580,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Sweetgreen by 1.4% in the third quarter. Vanguard Group Inc. now owns 9,593,744 shares of the company’s stock valued at $76,558,000 after buying an additional 129,572 shares during the period. Spyglass Capital Management LLC boosted its stake in shares of Sweetgreen by 4.0% in the third quarter. Spyglass Capital Management LLC now owns 4,056,570 shares of the company’s stock valued at $32,371,000 after buying an additional 156,757 shares during the period. Greenhouse Funds LLLP boosted its stake in shares of Sweetgreen by 82.8% in the third quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company’s stock valued at $31,496,000 after buying an additional 1,788,175 shares during the period. Marshall Wace LLP boosted its stake in shares of Sweetgreen by 1,428.8% in the third quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock valued at $31,313,000 after buying an additional 3,667,306 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Sweetgreen by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,453,564 shares of the company’s stock valued at $16,589,000 after buying an additional 16,281 shares during the period. 95.75% of the stock is currently owned by institutional investors.
Insider Activity at Sweetgreen
In other news, major shareholder Goldman Sachs Group Inc purchased 594,553 shares of the company’s stock in a transaction dated Tuesday, April 7th. The stock was bought at an average cost of $5.69 per share, for a total transaction of $3,383,006.57. Following the purchase, the insider owned 11,900,255 shares of the company’s stock, valued at approximately $67,712,450.95. The trade was a 5.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.19% of the company’s stock.
Analyst Upgrades and Downgrades
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Sweetgreen Price Performance
NYSE SG opened at $7.40 on Monday. The business has a fifty day moving average price of $7.11 and a two-hundred day moving average price of $6.64. Sweetgreen, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $16.70. The stock has a market capitalization of $879.22 million, a PE ratio of 61.66 and a beta of 2.15.
Sweetgreen (NYSE:SG – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The business had revenue of $161.52 million for the quarter, compared to the consensus estimate of $163.95 million. During the same quarter in the previous year, the company earned ($0.21) earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Sweetgreen, Inc. will post -0.76 earnings per share for the current year.
Sweetgreen Company Profile
Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.
Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.
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