Zweig DiMenna Associates LLC Lowers Position in Sweetgreen, Inc. (NYSE:SG)

Zweig DiMenna Associates LLC cut its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 45.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,200 shares of the company’s stock after selling 42,700 shares during the period. Zweig DiMenna Associates LLC’s holdings in Sweetgreen were worth $1,641,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SG. American Century Companies Inc. boosted its holdings in Sweetgreen by 795.0% during the second quarter. American Century Companies Inc. now owns 101,585 shares of the company’s stock worth $3,062,000 after purchasing an additional 90,235 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Sweetgreen by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock worth $53,151,000 after buying an additional 39,823 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Sweetgreen in the 2nd quarter worth approximately $285,000. Canada Pension Plan Investment Board bought a new position in shares of Sweetgreen in the second quarter valued at approximately $1,019,000. Finally, Sei Investments Co. increased its position in shares of Sweetgreen by 368.3% during the second quarter. Sei Investments Co. now owns 205,790 shares of the company’s stock valued at $6,202,000 after acquiring an additional 161,843 shares during the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Price Performance

NYSE:SG opened at $29.91 on Friday. The firm has a market capitalization of $3.46 billion, a P/E ratio of -38.65 and a beta of 2.38. The company’s 50-day simple moving average is $35.57 and its 200 day simple moving average is $33.82. Sweetgreen, Inc. has a one year low of $10.21 and a one year high of $45.12.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The business had revenue of $173.43 million during the quarter, compared to analysts’ expectations of $173.67 million. Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. During the same period last year, the firm posted ($0.22) EPS. On average, equities research analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In related news, CFO Mitch Reback sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total value of $265,040.00. Following the transaction, the chief financial officer now owns 350,981 shares of the company’s stock, valued at $11,628,000.53. This trade represents a 2.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the sale, the insider now directly owns 1,760,034 shares of the company’s stock, valued at $66,406,082.82. This represents a 8.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 648,838 shares of company stock worth $25,065,773. 21.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup upgraded Sweetgreen from a “neutral” rating to a “buy” rating and upped their price objective for the company from $44.00 to $49.00 in a research note on Friday, January 10th. KeyCorp initiated coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. Morgan Stanley lowered their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday. UBS Group increased their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Oppenheimer lowered their price target on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Sweetgreen presently has a consensus rating of “Moderate Buy” and an average target price of $41.20.

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.