Bryce Point Capital LLC purchased a new position in Sweetgreen, Inc. (NYSE:SG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 51,337 shares of the company's stock, valued at approximately $1,646,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cypress Wealth Services LLC grew its position in shares of Sweetgreen by 6.1% during the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company's stock worth $270,000 after buying an additional 483 shares in the last quarter. Hillsdale Investment Management Inc. lifted its stake in Sweetgreen by 1.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company's stock worth $1,608,000 after acquiring an additional 600 shares during the period. Arizona State Retirement System grew its holdings in Sweetgreen by 2.1% during the 4th quarter. Arizona State Retirement System now owns 29,535 shares of the company's stock worth $947,000 after acquiring an additional 613 shares in the last quarter. Xponance Inc. increased its position in Sweetgreen by 10.8% during the 4th quarter. Xponance Inc. now owns 7,185 shares of the company's stock valued at $230,000 after purchasing an additional 702 shares during the period. Finally, Headlands Technologies LLC raised its holdings in shares of Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after purchasing an additional 741 shares in the last quarter. Institutional investors own 95.75% of the company's stock.
Sweetgreen Price Performance
Sweetgreen stock traded down $1.64 during trading hours on Friday, hitting $20.88. 7,214,138 shares of the stock traded hands, compared to its average volume of 3,198,018. The firm's 50 day moving average price is $25.95 and its 200-day moving average price is $32.58. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -26.76 and a beta of 2.28. Sweetgreen, Inc. has a 1 year low of $18.62 and a 1 year high of $45.12.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on SG shares. Citigroup cut their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. KeyCorp assumed coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a "sector weight" rating for the company. TD Securities decreased their price target on shares of Sweetgreen from $45.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Oppenheimer lowered 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. Finally, Piper Sandler reduced their price objective on shares of Sweetgreen from $39.00 to $27.00 and set a "neutral" rating for the company in a research note 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $36.27.
Read Our Latest Analysis on Sweetgreen
Insider Activity at Sweetgreen
In other Sweetgreen news, COO Rossann Williams sold 4,977 shares of Sweetgreen stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $118,452.60. Following the completion of the transaction, the chief operating officer now owns 95,516 shares in the company, valued at approximately $2,273,280.80. This trade represents a 4.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mitch Reback sold 8,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total value of $265,040.00. Following the completion of the sale, the chief financial officer now owns 350,981 shares in the company, valued at $11,628,000.53. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,852 shares of company stock worth $1,052,177 over the last quarter. Insiders own 21.52% of the company's stock.
Sweetgreen Company Profile
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Free Report)
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.
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