Sweetgreen, Inc. $SG Stock Position Trimmed by Granahan Investment Management LLC

Granahan Investment Management LLC trimmed its position in shares of Sweetgreen, Inc. (NYSE:SG) by 82.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 214,411 shares of the company’s stock after selling 994,789 shares during the period. Granahan Investment Management LLC owned 0.18% of Sweetgreen worth $1,711,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. RPG Investment Advisory LLC boosted its position in shares of Sweetgreen by 33.2% during the third quarter. RPG Investment Advisory LLC now owns 616,191 shares of the company’s stock worth $4,916,000 after buying an additional 153,525 shares during the period. Greenhouse Funds LLLP acquired a new stake in Sweetgreen in the 2nd quarter valued at approximately $32,122,000. Spyglass Capital Management LLC increased its position in Sweetgreen by 15.2% in the 2nd quarter. Spyglass Capital Management LLC now owns 3,899,813 shares of the company’s stock valued at $58,029,000 after acquiring an additional 513,643 shares during the period. Citigroup Inc. raised its stake in Sweetgreen by 75.8% during the 3rd quarter. Citigroup Inc. now owns 531,171 shares of the company’s stock valued at $4,239,000 after acquiring an additional 228,961 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new position in Sweetgreen during the 3rd quarter worth $4,527,000. Institutional investors own 95.75% of the company’s stock.

Insiders Place Their Bets

In other Sweetgreen news, insider Nicolas Jammet acquired 4,428 shares of Sweetgreen stock in a transaction dated Thursday, March 5th. The stock was bought at an average price of $5.71 per share, for a total transaction of $25,283.88. Following the transaction, the insider owned 22,543 shares in the company, valued at approximately $128,720.53. This trade represents a 24.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 19.78% of the company’s stock.

Analyst Upgrades and Downgrades

SG has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on Sweetgreen from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 20th. Wolfe Research began coverage on shares of Sweetgreen in a report on Monday, March 9th. They issued a “peer perform” rating for the company. Sanford C. Bernstein set a $7.00 price objective on shares of Sweetgreen in a report on Wednesday, January 7th. Royal Bank Of Canada lowered their target price on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Finally, The Goldman Sachs Group boosted their price target on shares of Sweetgreen from $5.00 to $5.60 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.22.

Sweetgreen Stock Performance

Shares of SG stock opened at $5.75 on Tuesday. Sweetgreen, Inc. has a 1 year low of $4.99 and a 1 year high of $27.15. The business’s fifty day moving average is $6.26 and its 200-day moving average is $6.93. The stock has a market cap of $680.04 million, a PE ratio of -5.04 and a beta of 1.93.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.11). The firm had revenue of $155.19 million for the quarter, compared to the consensus estimate of $159.59 million. Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.25) EPS. Equities research analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Sweetgreen 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.