93,900 Shares in Sweetgreen, Inc. (NYSE:SG) Bought by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC purchased a new position in shares of Sweetgreen, Inc. (NYSE:SG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 93,900 shares of the company’s stock, valued at approximately $3,329,000. Zweig DiMenna Associates LLC owned approximately 0.08% of Sweetgreen as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. PSI Advisors LLC purchased a new position in Sweetgreen during the third quarter valued at $238,000. Brighton Jones LLC purchased a new position in Sweetgreen during the third quarter valued at $292,000. Precision Wealth Strategies LLC purchased a new position in Sweetgreen during the third quarter valued at $227,000. Allspring Global Investments Holdings LLC lifted its holdings in Sweetgreen by 13.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,258,484 shares of the company’s stock valued at $44,613,000 after purchasing an additional 148,684 shares in the last quarter. Finally, Creative Planning lifted its holdings in Sweetgreen by 61.7% during the third quarter. Creative Planning now owns 11,439 shares of the company’s stock valued at $406,000 after purchasing an additional 4,364 shares in the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, insider Adrienne Gemperle sold 3,868 shares of Sweetgreen stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $36.31, for a total transaction of $140,447.08. Following the completion of the sale, the insider now directly owns 114,842 shares in the company, valued at $4,169,913.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Adrienne Gemperle sold 3,868 shares of Sweetgreen stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $140,447.08. Following the completion of the transaction, the insider now owns 114,842 shares in the company, valued at $4,169,913.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan Neman sold 169,772 shares of Sweetgreen stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $69,044,255.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 426,061 shares of company stock worth $15,071,720 over the last three months. Insiders own 21.52% of the company’s stock.

Sweetgreen Price Performance

Shares of SG opened at $36.62 on Friday. Sweetgreen, Inc. has a 1-year low of $8.64 and a 1-year high of $39.75. The stock has a market cap of $4.18 billion, a PE ratio of -44.66 and a beta of 2.33. The firm has a 50-day simple moving average of $34.60 and a two-hundred day simple moving average of $30.01.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The company had revenue of $184.60 million for the quarter, compared to analyst estimates of $180.79 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. Sweetgreen’s revenue was up 21.0% on a year-over-year basis. As a group, sell-side analysts expect that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on SG. Bank of America increased their price objective on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Citigroup increased their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Piper Sandler reissued a “neutral” rating and issued a $39.00 price target (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. TD Cowen reissued a “buy” rating and issued a $43.00 price target on shares of Sweetgreen in a research note on Friday, September 27th. Finally, Oppenheimer raised their price target on shares of Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Sweetgreen has an average rating of “Moderate Buy” and an average target price of $38.20.

Sweetgreen 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.