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

Panoramic Capital LLC purchased a new stake in Sweetgreen, Inc. (NYSE:SG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 39,790 shares of the company’s stock, valued at approximately $1,276,000.

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

Insider Buying and Selling

In related news, COO Rossann Williams sold 4,977 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $118,452.60. Following the sale, the chief operating officer now owns 95,516 shares of the company’s stock, valued at $2,273,280.80. This trade represents a 4.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mitch Reback sold 10,926 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the sale, the chief financial officer now directly owns 344,055 shares in the company, valued at approximately $9,093,373.65. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,852 shares of company stock valued at $871,417. Insiders own 21.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SG. TD Securities cut their price target on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Morgan Stanley cut their price target on shares of Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating for the company in a 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 reissued an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Tuesday, February 25th. Finally, Piper Sandler reduced their target price on Sweetgreen from $27.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.73.

Sweetgreen Stock Up 0.8%

Shares of Sweetgreen stock opened at $15.77 on Wednesday. Sweetgreen, Inc. has a 52-week low of $14.61 and a 52-week high of $45.12. The company’s 50-day simple moving average is $21.43 and its 200-day simple moving average is $29.15. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -20.22 and a beta of 2.31.

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

Sweetgreen Company Profile

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.