Connor Clark & Lunn Investment Management Ltd. Has $3.28 Million Holdings in Sweetgreen, Inc. (NYSE:SG)

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 20.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,387 shares of the company's stock after selling 23,565 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Sweetgreen worth $3,275,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of Sweetgreen in the 3rd quarter valued at approximately $35,000. Quest Partners LLC bought a new position in shares of Sweetgreen in the second quarter valued at approximately $76,000. KBC Group NV raised its position in shares of Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company's stock valued at $111,000 after purchasing an additional 704 shares during the period. Atomi Financial Group Inc. acquired a new stake in shares of Sweetgreen in the third quarter worth $216,000. Finally, Versor Investments LP bought a new stake in shares of Sweetgreen during the 2nd quarter worth $217,000. Institutional investors and hedge funds own 95.75% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen reaffirmed a "buy" rating and set a $45.00 target price on shares of Sweetgreen in a research report on Monday, November 18th. UBS Group boosted their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, November 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Citigroup lifted their target price on Sweetgreen from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, August 9th. Finally, Morgan Stanley upped their price target on Sweetgreen from $25.00 to $27.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $39.80.

Sweetgreen Price Performance

SG traded up $0.57 during trading hours on Monday, reaching $43.97. The company's stock had a trading volume of 3,679,712 shares, compared to its average volume of 2,891,965. The business's 50-day moving average is $37.13 and its 200-day moving average is $32.65. Sweetgreen, Inc. has a fifty-two week low of $9.21 and a fifty-two week high of $45.12. The stock has a market cap of $5.09 billion, a PE ratio of -56.37 and a beta of 2.32.

Insider Activity at Sweetgreen

In other news, insider Adrienne Gemperle sold 5,372 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.05, for a total transaction of $182,916.60. Following the completion of the sale, the insider now directly owns 107,313 shares in the company, valued at $3,654,007.65. This trade represents a 4.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nathaniel Ru sold 9,250 shares of the company's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $28.74, for a total transaction of $265,845.00. Following the completion of the sale, the insider now directly owns 1,952,129 shares in the company, valued at $56,104,187.46. This represents a 0.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,132 shares of company stock valued at $5,993,464 over the last ninety days. 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.