Magnetar Financial LLC Makes New $458,000 Investment in Sweetgreen, Inc. (NYSE:SG)

Magnetar Financial LLC bought a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,283 shares of the company's stock, valued at approximately $458,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deepwater Asset Management LLC acquired a new position in shares of Sweetgreen in the fourth quarter valued at about $13,695,000. Amundi purchased a new stake in Sweetgreen in the fourth quarter valued at approximately $9,112,000. Lord Abbett & CO. LLC increased its holdings in Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company's stock worth $82,032,000 after buying an additional 272,340 shares during the period. Tidal Investments LLC raised its position in Sweetgreen by 848.2% during the 3rd quarter. Tidal Investments LLC now owns 270,141 shares of the company's stock worth $9,576,000 after buying an additional 241,652 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Sweetgreen by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company's stock valued at $120,784,000 after acquiring an additional 236,874 shares during the period. Hedge funds and other institutional investors own 95.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley cut 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 note on Tuesday, January 21st. The Goldman Sachs Group reduced their price objective on Sweetgreen from $37.00 to $32.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. KeyCorp assumed coverage on Sweetgreen in a research note on Wednesday, December 11th. They issued a "sector weight" rating on the stock. TD Securities reduced their price target on Sweetgreen from $45.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Piper Sandler lowered their price objective on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Sweetgreen presently has an average rating of "Moderate Buy" and an average price target of $36.27.

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Sweetgreen Price Performance

NYSE SG traded up $0.65 on Wednesday, hitting $26.33. The company had a trading volume of 2,654,183 shares, compared to its average volume of 3,096,666. The company has a market capitalization of $3.09 billion, a PE ratio of -33.75 and a beta of 2.44. Sweetgreen, Inc. has a 12-month low of $18.77 and a 12-month high of $45.12. The company's fifty day moving average price is $26.92 and its 200-day moving average price is $32.96.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 8,109 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.84, for a total transaction of $193,318.56. Following the completion of the sale, the chief financial officer now directly owns 350,023 shares in the company, valued at approximately $8,344,548.32. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jonathan Neman sold 5,717 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the transaction, the chief executive officer now directly owns 1,810,263 shares of the company's stock, valued at $43,084,259.40. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,852 shares of company stock valued at $1,052,177 over the last 90 days. Corporate insiders own 21.52% of the company's stock.

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.