BNP Paribas Financial Markets Purchases 603,029 Shares of Sweetgreen, Inc. $SG

BNP Paribas Financial Markets lifted its position in Sweetgreen, Inc. (NYSE:SG) by 35.6% during the 4th quarter, HoldingsChannel reports. The firm owned 2,295,867 shares of the company’s stock after acquiring an additional 603,029 shares during the quarter. BNP Paribas Financial Markets’ holdings in Sweetgreen were worth $15,520,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SG. Marshall Wace LLP increased its holdings in shares of Sweetgreen by 1,428.8% in the third quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock worth $31,313,000 after purchasing an additional 3,667,306 shares during the last quarter. Greenhouse Funds LLLP increased its holdings in shares of Sweetgreen by 82.8% in the third quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company’s stock worth $31,496,000 after purchasing an additional 1,788,175 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Sweetgreen by 136.0% in the third quarter. Voloridge Investment Management LLC now owns 1,079,237 shares of the company’s stock worth $8,612,000 after purchasing an additional 621,907 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Sweetgreen in the third quarter worth about $3,177,000. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Sweetgreen by 121.7% in the second quarter. Frontier Capital Management Co. LLC now owns 680,255 shares of the company’s stock worth $10,122,000 after purchasing an additional 373,350 shares during the last quarter. 95.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SG shares. Wolfe Research started coverage on Sweetgreen in a report on Monday, March 9th. They issued a “peer perform” rating on the stock. TD Cowen lifted their target price on Sweetgreen from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, May 27th. Royal Bank Of Canada reduced their price objective on Sweetgreen from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Wall Street Zen raised Sweetgreen from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, DA Davidson raised their price objective on Sweetgreen from $5.50 to $7.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.04.

Insider Activity at Sweetgreen

In other Sweetgreen news, major shareholder Goldman Sachs Group Inc bought 594,553 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were purchased at an average price of $5.69 per share, with a total value of $3,383,006.57. Following the completion of the purchase, the insider owned 11,900,255 shares in the company, valued at $67,712,450.95. This represents a 5.26% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 18.19% of the company’s stock.

Sweetgreen Price Performance

NYSE:SG opened at $7.40 on Friday. The firm has a market capitalization of $879.22 million, a price-to-earnings ratio of 61.66 and a beta of 2.16. Sweetgreen, Inc. has a 1 year low of $4.49 and a 1 year high of $16.70. The business has a 50 day simple moving average of $7.11 and a 200-day simple moving average of $6.63.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The business had revenue of $161.52 million for the quarter, compared to the consensus estimate of $163.95 million. Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) EPS. As a group, analysts expect that Sweetgreen, Inc. will post -0.76 earnings per share for the current fiscal year.

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.