Connor Clark & Lunn Investment Management Ltd. raised its stake in Sweetgreen, Inc. (NYSE:SG - Free Report) by 25.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,752 shares of the company's stock after purchasing an additional 23,365 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of Sweetgreen worth $3,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SG. Deepwater Asset Management LLC purchased a new stake in Sweetgreen in the fourth quarter valued at approximately $13,695,000. Amundi purchased a new stake in Sweetgreen in the 4th quarter worth approximately $9,112,000. Lord Abbett & CO. LLC boosted its position 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 purchasing an additional 272,340 shares in the last quarter. Tidal Investments LLC boosted its position in Sweetgreen by 848.2% in the 3rd quarter. Tidal Investments LLC now owns 270,141 shares of the company's stock worth $9,576,000 after purchasing an additional 241,652 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of 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 buying an additional 236,874 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company's stock.
Sweetgreen Stock Up 2.2 %
Shares of Sweetgreen stock traded up $0.54 during trading on Friday, reaching $24.97. The company's stock had a trading volume of 4,234,709 shares, compared to its average volume of 3,085,506. Sweetgreen, Inc. has a 12-month low of $18.77 and a 12-month high of $45.12. The company has a market capitalization of $2.93 billion, a P/E ratio of -32.01 and a beta of 2.44. The business has a 50 day moving average price of $27.46 and a 200-day moving average price of $33.04.
Insiders Place Their Bets
In other Sweetgreen news, COO Rossann Williams sold 4,977 shares of the business's 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 $118,452.60. Following the completion of the sale, the chief operating officer now directly owns 95,516 shares in the company, valued at $2,273,280.80. The trade was a 4.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the chief financial officer now owns 350,023 shares of the company's stock, valued at approximately $8,344,548.32. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,852 shares of company stock worth $1,052,177. 21.52% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
SG has been the subject of several recent research reports. Piper Sandler reduced their price objective on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Oppenheimer cut their target price on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Citigroup cut their target price on Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group lowered their price target on Sweetgreen from $37.00 to $32.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $45.00 price target on shares of Sweetgreen in a report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.27.
Read Our Latest Stock Report on SG
About Sweetgreen
(
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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