Panoramic Capital LLC Buys Shares of 39,790 Sweetgreen, Inc. (NYSE:SG)

Panoramic Capital LLC acquired a new position in shares of Sweetgreen, Inc. (NYSE:SG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,790 shares of the company’s stock, valued at approximately $1,276,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its stake in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after purchasing an additional 1,000 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after purchasing an additional 741 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after buying an additional 494 shares during the period. Millstone Evans Group LLC acquired a new position in Sweetgreen during the 4th quarter worth approximately $53,000. Finally, Denver PWM LLC purchased a new position in shares of Sweetgreen during the fourth quarter valued at approximately $60,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Trading Up 0.8%

Shares of Sweetgreen stock opened at $15.77 on Wednesday. Sweetgreen, Inc. has a 12-month low of $14.61 and a 12-month high of $45.12. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -20.22 and a beta of 2.31. The company has a fifty day simple moving average of $21.43 and a 200-day simple moving average of $29.15.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.21). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The firm had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $164.68 million. During the same period in the previous year, the company posted ($0.23) earnings per share. Sweetgreen’s revenue was up 5.3% compared to the same quarter last year. On average, analysts forecast that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SG has been the subject of a number of research analyst reports. Piper Sandler decreased their price target on Sweetgreen from $27.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. The Goldman Sachs Group dropped their price objective on Sweetgreen from $27.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a research note on Tuesday, February 25th. TD Securities decreased their price objective on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, UBS Group dropped their price target on Sweetgreen from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.73.

Insiders Place Their Bets

In other news, CFO Mitch Reback sold 10,926 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the sale, the chief financial officer now owns 344,055 shares in the company, valued at $9,093,373.65. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Neman sold 5,717 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the transaction, the chief executive officer now owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,852 shares of company stock valued at $871,417 over the last three months. Company insiders own 21.52% of the company’s stock.

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.