Baillie Gifford & Co. Has $88.26 Million Holdings in Sweetgreen, Inc. $SG

Baillie Gifford & Co. lessened its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 14.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,060,194 shares of the company’s stock after selling 1,937,496 shares during the period. Baillie Gifford & Co. owned 0.09% of Sweetgreen worth $88,260,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SG. Glass Jacobson Investment Advisors llc acquired a new position in Sweetgreen during the second quarter worth $30,000. Nisa Investment Advisors LLC grew its holdings in shares of Sweetgreen by 98.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock worth $32,000 after purchasing an additional 1,055 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Sweetgreen by 312.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock worth $42,000 after purchasing an additional 2,127 shares in the last quarter. Bogart Wealth LLC increased its position in shares of Sweetgreen by 1,150.0% during the 3rd quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock worth $40,000 after purchasing an additional 4,600 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in Sweetgreen during the 3rd quarter valued at about $82,000. 95.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group cut shares of Sweetgreen from a “buy” rating to a “neutral” rating and set a $7.50 price objective on the stock. in a research note on Tuesday, January 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $8.00 target price on shares of Sweetgreen in a report on Tuesday, December 9th. 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 report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sweetgreen in a research report on Monday, December 29th. Finally, Wells Fargo & Company lowered Sweetgreen from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock 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, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.79.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman purchased 179,800 shares of the stock in a transaction dated Wednesday, November 12th. The stock was bought at an average price of $5.56 per share, for a total transaction of $999,688.00. Following the transaction, the chief executive officer directly owned 179,800 shares in the company, valued at $999,688. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicolas Jammet purchased 18,115 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average cost of $5.51 per share, with a total value of $99,813.65. Following the completion of the purchase, the insider owned 18,115 shares of the company’s stock, valued at $99,813.65. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 19.78% of the stock is owned by company insiders.

Sweetgreen Stock Performance

NYSE:SG opened at $7.18 on Friday. The company has a market cap of $849.30 million, a price-to-earnings ratio of -7.40 and a beta of 1.93. The stock’s fifty day moving average price is $6.95 and its two-hundred day moving average price is $8.49. Sweetgreen, Inc. has a 52-week low of $5.14 and a 52-week high of $35.16.

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