Cerity Partners LLC Trims Position in Sweetgreen, Inc. (NYSE:SG)

Cerity Partners LLC reduced its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 59.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,156 shares of the company's stock after selling 34,102 shares during the period. Cerity Partners LLC's holdings in Sweetgreen were worth $745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC boosted its position in Sweetgreen by 3.4% during the 4th quarter. FMR LLC now owns 10,103,969 shares of the company's stock worth $323,933,000 after acquiring an additional 329,789 shares during the period. MIG Capital LLC acquired a new position in shares of Sweetgreen in the 4th quarter valued at $310,000. Envestnet Asset Management Inc. lifted its stake in Sweetgreen by 54.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock worth $523,000 after purchasing an additional 5,783 shares during the period. Wells Fargo & Company MN raised its stake in shares of Sweetgreen by 44.0% in the fourth quarter. Wells Fargo & Company MN now owns 98,212 shares of the company's stock valued at $3,149,000 after acquiring an additional 30,022 shares during the last quarter. Finally, Thoroughbred Financial Services LLC increased its position in Sweetgreen by 116.2% in the 4th quarter. Thoroughbred Financial Services LLC now owns 16,733 shares of the company's stock valued at $536,000 after acquiring an additional 8,994 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Trading Up 1.0 %

Shares of NYSE:SG traded up $0.19 during midday trading on Thursday, reaching $18.64. The company had a trading volume of 683,422 shares, compared to its average volume of 3,322,116. Sweetgreen, Inc. has a 52-week low of $16.29 and a 52-week high of $45.12. The company's 50 day moving average price is $22.78 and its 200 day moving average price is $31.01. The stock has a market cap of $2.19 billion, a P/E ratio of -23.92 and a beta of 2.28.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler dropped their price target 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. The Goldman Sachs Group reduced their price objective on shares of Sweetgreen from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. TD Securities lowered their target price on shares of Sweetgreen from $45.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. UBS Group decreased their price target on shares of Sweetgreen from $45.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley set a $24.00 target price on shares of Sweetgreen in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.91.

Insider Buying and Selling at Sweetgreen

In other news, CFO Mitch Reback sold 10,926 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Rossann Williams sold 4,977 shares of the stock in a transaction 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 owns 95,516 shares in the company, valued at approximately $2,273,280.80. This represents a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,852 shares of company stock worth $871,417 over the last ninety days. Insiders own 21.52% of the company's stock.

Sweetgreen 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.