Granahan Investment Management LLC Invests $1.47 Million in Sweetgreen, Inc. $SG

Granahan Investment Management LLC acquired a new stake in Sweetgreen, Inc. (NYSE:SG) in the 1st quarter, HoldingsChannel reports. The fund acquired 283,646 shares of the company’s stock, valued at approximately $1,472,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ibex Investors LLC grew its position in shares of Sweetgreen by 5,058.7% in the 4th quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock valued at $5,580,000 after acquiring an additional 809,400 shares during the period. Capelight Capital Asset Management LP bought a new stake in shares of Sweetgreen in the 4th quarter valued at about $676,000. MYDA Advisors LLC bought a new position in Sweetgreen during the fourth quarter worth about $676,000. BNP Paribas Financial Markets grew its holdings in Sweetgreen by 35.6% during the fourth quarter. BNP Paribas Financial Markets now owns 2,295,867 shares of the company’s stock worth $15,520,000 after purchasing an additional 603,029 shares during the period. Finally, Havemeyer Place LP bought a new position in Sweetgreen during the fourth quarter worth about $464,000. 95.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup upped their price objective on Sweetgreen from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, July 20th. BNP Paribas Exane lifted their target price on Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a research note on Friday, May 8th. Wall Street Zen raised Sweetgreen from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. UBS Group increased their price target on Sweetgreen from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, TD Cowen raised their price target on Sweetgreen from $7.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.72.

Sweetgreen Stock Performance

Shares of SG opened at $6.02 on Friday. Sweetgreen, Inc. has a 52 week low of $4.49 and a 52 week high of $14.99. The firm has a market cap of $715.83 million, a P/E ratio of 50.20 and a beta of 2.17. The firm’s 50-day simple moving average is $8.33 and its 200 day simple moving average is $6.96.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $161.52 million for the quarter, compared to analyst estimates of $163.94 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) earnings per share. As a group, equities analysts forecast that Sweetgreen, Inc. will post -0.51 earnings per share for the current year.

About Sweetgreen

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.