Certuity LLC Buys 157,500 Shares of Sweetgreen, Inc. $SG

Certuity LLC boosted its position in shares of Sweetgreen, Inc. (NYSE:SG) by 110.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 300,000 shares of the company’s stock after purchasing an additional 157,500 shares during the quarter. Certuity LLC’s holdings in Sweetgreen were worth $2,394,000 at the end of the most recent quarter.

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

Insider Activity

In other news, insider Nicolas Jammet acquired 4,428 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was acquired at an average price of $5.71 per share, for a total transaction of $25,283.88. Following the transaction, the insider directly owned 22,543 shares in the company, valued at approximately $128,720.53. This represents a 24.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 19.78% of the stock is owned by company insiders.

Sweetgreen Price Performance

Shares of NYSE:SG opened at $5.41 on Friday. The firm’s 50 day simple moving average is $6.31 and its 200 day simple moving average is $7.01. Sweetgreen, Inc. has a fifty-two week low of $4.99 and a fifty-two week high of $27.15. The company has a market capitalization of $640.26 million, a price-to-earnings ratio of -4.74 and a beta of 1.93.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Sweetgreen from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. DA Davidson initiated coverage on shares of Sweetgreen in a research note on Friday, March 6th. They issued a “neutral” rating and a $5.50 price objective on the stock. Morgan Stanley lowered their target price on shares of Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Wolfe Research started coverage on shares of Sweetgreen in a research report on Monday. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company downgraded Sweetgreen from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $10.00 to $7.00 in a research note on Wednesday, December 17th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.22.

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.