EFG Asset Management North America Corp. Acquires 27,400 Shares of Sweetgreen, Inc. (NYSE:SG)

EFG Asset Management North America Corp. boosted its stake in Sweetgreen, Inc. (NYSE:SG - Free Report) by 59.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,405 shares of the company's stock after purchasing an additional 27,400 shares during the period. EFG Asset Management North America Corp. owned about 0.06% of Sweetgreen worth $2,352,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Sweetgreen by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company's stock valued at $306,009,000 after purchasing an additional 351,240 shares during the last quarter. Wellington Management Group LLP increased its stake in Sweetgreen by 7.5% in the third quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company's stock valued at $120,784,000 after purchasing an additional 236,874 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company's stock valued at $82,032,000 after purchasing an additional 272,340 shares during the period. State Street Corp grew its stake in Sweetgreen by 3.2% in the third quarter. State Street Corp now owns 2,263,025 shares of the company's stock valued at $80,224,000 after acquiring an additional 69,120 shares during the period. Finally, Geode Capital Management LLC grew its position in Sweetgreen by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company's stock valued at $79,757,000 after purchasing an additional 116,243 shares during the period. 95.75% of the stock is owned by institutional investors.

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Sweetgreen Trading Down 3.6 %

Shares of NYSE:SG traded down $0.95 during trading on Friday, reaching $25.58. 3,078,849 shares of the company traded hands, compared to its average volume of 3,152,761. Sweetgreen, Inc. has a 52-week low of $18.77 and a 52-week high of $45.12. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -32.79 and a beta of 2.44. The business's fifty day moving average is $26.62 and its 200-day moving average is $32.91.

Insider Activity at Sweetgreen

In other Sweetgreen news, COO Rossann Williams sold 4,977 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $118,452.60. Following the completion of the sale, 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 can be accessed through the SEC website. Also, CFO Mitch Reback sold 8,000 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total value of $265,040.00. Following the transaction, the chief financial officer now owns 350,981 shares in the company, valued at $11,628,000.53. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,852 shares of company stock worth $1,052,177 in the last three months. 21.52% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on SG. Oppenheimer decreased their target price on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group dropped their target price 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. Morgan Stanley decreased their price target on shares of Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 21st. Royal Bank of Canada reiterated an "outperform" rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Finally, KeyCorp assumed coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They set a "sector weight" rating on the stock. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Sweetgreen presently has an average rating of "Moderate Buy" and an average target price of $36.27.

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.