Baillie Gifford & Co. Trims Position in Sweetgreen, Inc. (NYSE:SG)

Baillie Gifford & Co. lessened its holdings in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,320,949 shares of the company's stock after selling 636,055 shares during the quarter. Baillie Gifford & Co. owned 9.79% of Sweetgreen worth $362,950,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hollencrest Capital Management purchased a new position in Sweetgreen in the third quarter valued at about $35,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Sweetgreen in the fourth quarter valued at $62,000. KBC Group NV lifted its position in shares of Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company's stock valued at $111,000 after buying an additional 704 shares during the last quarter. Sachetta LLC grew its stake in shares of Sweetgreen by 37.6% during the 4th quarter. Sachetta LLC now owns 4,324 shares of the company's stock worth $139,000 after acquiring an additional 1,182 shares during the period. Finally, Quest Partners LLC increased its holdings in Sweetgreen by 68.4% in the 3rd quarter. Quest Partners LLC now owns 4,256 shares of the company's stock worth $151,000 after acquiring an additional 1,728 shares during the last quarter. Institutional investors own 95.75% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group reissued a "neutral" rating and issued a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. KeyCorp assumed coverage on Sweetgreen in a report on Wednesday, December 11th. They issued a "sector weight" rating for the company. Morgan Stanley decreased their price objective on Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating for the company in a report on Tuesday, January 21st. Citigroup cut their target price on Sweetgreen from $49.00 to $43.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Finally, Oppenheimer cut their target price on Sweetgreen from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.60.

Insider Activity

In related news, CEO Jonathan Neman sold 14,745 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $663,525.00. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $86,860,260. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicolas Jammet sold 14,551 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $654,795.00. Following the completion of the sale, the insider now owns 1,930,233 shares of the company's stock, valued at $86,860,485. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 550,577 shares of company stock worth $21,183,936. 21.52% of the stock is currently owned by insiders.

Sweetgreen Trading Up 1.5 %

Shares of SG traded up $0.36 during trading hours on Thursday, reaching $23.61. 4,280,306 shares of the company's stock traded hands, compared to its average volume of 2,985,717. The stock has a market cap of $2.73 billion, a PE ratio of -30.26 and a beta of 2.37. The firm's 50 day simple moving average is $31.73 and its 200-day simple moving average is $34.41. Sweetgreen, Inc. has a 12 month low of $10.93 and a 12 month high of $45.12.

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.