Atika Capital Management LLC Reduces Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Atika Capital Management LLC trimmed its holdings in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 26.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,000 shares of the company's stock after selling 78,000 shares during the quarter. Atika Capital Management LLC owned 0.19% of Sweetgreen worth $6,957,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SG. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sweetgreen by 8.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,841 shares of the company's stock worth $881,000 after acquiring an additional 1,950 shares during the last quarter. Point72 DIFC Ltd bought a new position in Sweetgreen during the 3rd quarter worth approximately $288,000. Stifel Financial Corp acquired a new position in shares of Sweetgreen in the 3rd quarter worth approximately $287,000. State Street Corp boosted its stake in shares of Sweetgreen by 3.2% in the 3rd quarter. State Street Corp now owns 2,263,025 shares of the company's stock valued at $80,224,000 after purchasing an additional 69,120 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Sweetgreen by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company's stock valued at $120,784,000 after purchasing an additional 236,874 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on SG. Piper Sandler dropped their target price 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 cut their target price on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group decreased their target price on Sweetgreen from $37.00 to $32.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $45.00 price target on shares of Sweetgreen in a research note on Tuesday, February 25th. Finally, Morgan Stanley reduced their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.27.

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Sweetgreen Stock Down 7.3 %

SG traded down $1.60 during trading on Friday, hitting $20.33. 1,033,736 shares of the company's stock were exchanged, compared to its average volume of 3,236,497. The business's 50 day moving average is $24.58 and its two-hundred day moving average is $31.97. The stock has a market cap of $2.38 billion, a P/E ratio of -26.20 and a beta of 2.28. Sweetgreen, Inc. has a fifty-two week low of $18.62 and a fifty-two week high of $45.12.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, Director Nathaniel Ru sold 2,123 shares of Sweetgreen stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $50,527.40. Following the transaction, the director now owns 1,785,099 shares of the company's stock, valued at $42,485,356.20. This trade represents a 0.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Rossann Williams sold 4,977 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 $118,452.60. Following the sale, the chief operating officer now directly owns 95,516 shares of the company's stock, valued at $2,273,280.80. The trade was a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,852 shares of company stock worth $1,052,177. Insiders own 21.52% of the company's stock.

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.