Capelight Capital Asset Management LP Makes New $676,000 Investment in Sweetgreen, Inc. $SG
by Scott Moore · The Cerbat GemCapelight Capital Asset Management LP acquired a new position in shares of Sweetgreen, Inc. (NYSE:SG – Free Report) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 100,000 shares of the company’s stock, valued at approximately $676,000.
Several other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC raised its position in shares of Sweetgreen by 165.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after acquiring an additional 2,349 shares during the last quarter. Bogart Wealth LLC raised 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 valued at $40,000 after acquiring an additional 4,600 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Sweetgreen by 124.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock valued at $50,000 after acquiring an additional 3,484 shares during the last quarter. Eastern Bank raised its position in shares of Sweetgreen by 228.5% during the 4th quarter. Eastern Bank now owns 8,780 shares of the company’s stock valued at $59,000 after acquiring an additional 6,107 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Sweetgreen during the 3rd quarter valued at $82,000. Institutional investors and hedge funds own 95.75% of the company’s stock.
Analyst Ratings Changes
Several analysts have commented on the stock. Sanford C. Bernstein set a $7.00 target price on shares of Sweetgreen in a research report on Wednesday, January 7th. Piper Sandler dropped their target price on shares of Sweetgreen from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, March 27th. JPMorgan Chase & Co. upped their target price on shares of Sweetgreen from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Wells Fargo & Company cut shares of Sweetgreen from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $10.00 to $7.00 in a research report on Wednesday, December 17th. Finally, Morgan Stanley dropped their target price on shares of Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.84.
Read Our Latest Analysis on SG
Sweetgreen Stock Up 8.0%
SG opened at $6.20 on Wednesday. Sweetgreen, Inc. has a 12 month low of $4.49 and a 12 month high of $21.67. The company has a fifty day simple moving average of $5.55 and a 200 day simple moving average of $6.46. The stock has a market cap of $733.89 million, a P/E ratio of -5.44 and a beta of 1.90.
Sweetgreen (NYSE:SG – Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The firm had revenue of $155.19 million during the quarter, compared to the consensus estimate of $159.59 million. During the same quarter in the prior year, the company earned ($0.25) EPS. Sweetgreen’s quarterly revenue was down 3.5% on a year-over-year basis. On average, equities research analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, major shareholder Goldman Sachs Group Inc acquired 594,553 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was acquired at an average price of $5.69 per share, for a total transaction of $3,383,006.57. Following the transaction, the insider directly owned 11,900,255 shares in the company, valued at approximately $67,712,450.95. This represents a 5.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nicolas Jammet acquired 4,428 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was purchased at an average price of $5.71 per share, with a total value of $25,283.88. Following the transaction, the insider owned 22,543 shares in the company, valued at $128,720.53. This represents a 24.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 19.78% of the stock is owned by corporate insiders.
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.
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