Sweetgreen, Inc. $SG Shares Bought by Evolutionary Tree Capital Management LLC

Evolutionary Tree Capital Management LLC raised its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 23.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 91,060 shares of the company’s stock after purchasing an additional 17,559 shares during the quarter. Sweetgreen comprises about 1.4% of Evolutionary Tree Capital Management LLC’s holdings, making the stock its 26th biggest position. Evolutionary Tree Capital Management LLC’s holdings in Sweetgreen were worth $1,355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Glass Jacobson Investment Advisors llc acquired a new position in Sweetgreen during the second quarter worth about $30,000. Nisa Investment Advisors LLC boosted its holdings in shares of Sweetgreen by 98.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock worth $32,000 after purchasing an additional 1,055 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Sweetgreen by 312.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock worth $42,000 after purchasing an additional 2,127 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position in shares of Sweetgreen by 70.8% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company’s stock valued at $103,000 after purchasing an additional 1,700 shares in the last quarter. Finally, LVW Advisors LLC purchased a new position in Sweetgreen during the second quarter worth approximately $159,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Price Performance

Shares of SG stock opened at $6.50 on Friday. Sweetgreen, Inc. has a 1-year low of $5.14 and a 1-year high of $42.87. The firm has a market cap of $769.41 million, a PE ratio of -6.70 and a beta of 1.94. The company has a 50-day moving average of $7.07 and a two-hundred day moving average of $10.34.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Friday, November 7th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.13). The company had revenue of $172.39 million during the quarter, compared to analyst estimates of $179.29 million. Sweetgreen had a negative return on equity of 25.67% and a negative net margin of 16.55%.The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.18) earnings per share. Sell-side analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jonathan Neman bought 179,800 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average cost of $5.56 per share, for a total transaction of $999,688.00. Following the acquisition, the chief executive officer directly owned 179,800 shares of the company’s stock, valued at $999,688. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicolas Jammet bought 18,115 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average cost of $5.51 per share, with a total value of $99,813.65. Following the completion of the transaction, the insider owned 18,115 shares in the company, valued at $99,813.65. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 19.78% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on SG shares. TD Cowen dropped their target price on Sweetgreen from $15.00 to $10.00 and set a “hold” rating for the company in a report on Friday, August 8th. William Blair restated a “market perform” rating on shares of Sweetgreen in a research report on Friday, November 7th. Oppenheimer set a $10.00 target price on shares of Sweetgreen in a report on Friday, November 7th. Morgan Stanley set a $10.00 price target on shares of Sweetgreen in a report on Tuesday, October 21st. Finally, Piper Sandler reduced their price target on shares of Sweetgreen from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.82.

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.