Magnetar Financial LLC Purchases Shares of 14,283 Sweetgreen, Inc. (NYSE:SG)

Magnetar Financial LLC purchased a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,283 shares of the company's stock, valued at approximately $458,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SG. Xponance Inc. raised its position in Sweetgreen by 10.8% during the fourth quarter. Xponance Inc. now owns 7,185 shares of the company's stock worth $230,000 after acquiring an additional 702 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of Sweetgreen during the fourth quarter worth about $301,000. Commonwealth Equity Services LLC boosted its position in Sweetgreen by 91.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,105 shares of the company's stock worth $388,000 after acquiring an additional 5,783 shares during the last quarter. Swiss National Bank grew its stake in Sweetgreen by 2.1% in the 4th quarter. Swiss National Bank now owns 200,200 shares of the company's stock worth $6,418,000 after acquiring an additional 4,100 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Sweetgreen by 25.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 115,752 shares of the company's stock worth $3,711,000 after purchasing an additional 23,365 shares during the period. Institutional investors and hedge funds own 95.75% of the company's stock.

Sweetgreen Stock Performance

Shares of NYSE SG traded up $0.22 during midday trading on Thursday, hitting $26.51. The company's stock had a trading volume of 2,629,337 shares, compared to its average volume of 3,095,410. Sweetgreen, Inc. has a 1-year low of $18.77 and a 1-year high of $45.12. The firm's fifty day moving average price is $26.92 and its 200-day moving average price is $32.96. The firm has a market cap of $3.11 billion, a P/E ratio of -33.99 and a beta of 2.44.

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Insider Transactions at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 5,717 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $136,064.60. Following the sale, the chief executive officer now directly owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mitch Reback sold 10,926 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the transaction, the chief financial officer now owns 344,055 shares in the company, valued at $9,093,373.65. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,852 shares of company stock worth $1,052,177. 21.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SG has been the topic of several recent analyst reports. Piper Sandler cut their price objective on shares of Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Oppenheimer decreased their price target on shares of Sweetgreen from $41.00 to $35.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Morgan Stanley cut their target price on Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada restated an "outperform" rating and set a $45.00 price target on shares of Sweetgreen in a research note on Tuesday, February 25th. Finally, KeyCorp started coverage on Sweetgreen in a research note on Wednesday, December 11th. They issued a "sector weight" rating on the stock. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.27.

Sweetgreen Company Profile

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.