Sweetgreen, Inc. $SG Stake Decreased by Bosun Asset Management LLC

Bosun Asset Management LLC trimmed its holdings in Sweetgreen, Inc. (NYSE:SG) by 78.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,651 shares of the company’s stock after selling 84,012 shares during the quarter. Bosun Asset Management LLC’s holdings in Sweetgreen were worth $337,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc bought a new stake in Sweetgreen during the 2nd quarter valued at $30,000. Nisa Investment Advisors LLC increased its holdings in shares of Sweetgreen by 98.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock valued at $32,000 after purchasing an additional 1,055 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Sweetgreen by 312.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock valued at $42,000 after purchasing an additional 2,127 shares in the last quarter. LVW Advisors LLC acquired a new stake in Sweetgreen in the second quarter worth about $159,000. Finally, Kingswood Wealth Advisors LLC bought a new position in Sweetgreen in the 2nd quarter valued at about $170,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sweetgreen

In other news, CEO Jonathan Neman bought 179,800 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were bought at an average cost of $5.56 per share, with a total value of $999,688.00. Following the purchase, the chief executive officer directly owned 179,800 shares in the company, valued at $999,688. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicolas Jammet bought 18,115 shares of Sweetgreen stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average price of $5.51 per share, with a total value of $99,813.65. Following the acquisition, the insider directly owned 18,115 shares of the company’s stock, valued at approximately $99,813.65. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 19.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SG shares. Citigroup restated a “buy” rating on shares of Sweetgreen in a research report on Wednesday, November 12th. Bank of America reissued a “neutral” rating and set a $9.50 target price (down previously from $18.00) on shares of Sweetgreen in a report on Monday, October 6th. Oppenheimer set a $10.00 target price on Sweetgreen in a research report on Friday, November 7th. Royal Bank Of Canada lowered their price target on Sweetgreen from $13.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sweetgreen in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.82.

Sweetgreen Trading Down 2.9%

Shares of SG opened at $6.70 on Monday. The business’s 50-day moving average price is $6.91 and its 200 day moving average price is $10.00. The stock has a market capitalization of $793.08 million, a P/E ratio of -6.91 and a beta of 1.93. Sweetgreen, Inc. has a 1-year low of $5.14 and a 1-year high of $42.65.

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

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.