Hood River Capital Management LLC Sells 208,361 Shares of Sweetgreen, Inc. (NYSE:SG)

Hood River Capital Management LLC lowered its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 7.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,521,396 shares of the company's stock after selling 208,361 shares during the period. Sweetgreen accounts for about 1.2% of Hood River Capital Management LLC's investment portfolio, making the stock its 27th largest holding. Hood River Capital Management LLC owned about 2.18% of Sweetgreen worth $80,836,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SG. Cox Capital Mgt LLC boosted its stake in Sweetgreen by 76.0% during the 4th quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company's stock valued at $1,728,000 after purchasing an additional 23,278 shares during the last quarter. Moody National Bank Trust Division bought a new stake in shares of Sweetgreen in the fourth quarter worth approximately $1,182,000. Diversified Trust Co lifted its position in Sweetgreen by 223.2% during the fourth quarter. Diversified Trust Co now owns 27,126 shares of the company's stock valued at $870,000 after purchasing an additional 18,733 shares during the period. Franklin Resources Inc. grew its position in Sweetgreen by 1,399.0% in the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company's stock worth $4,365,000 after purchasing an additional 103,664 shares during the period. Finally, LPL Financial LLC raised its stake in Sweetgreen by 400.1% during the 4th quarter. LPL Financial LLC now owns 59,592 shares of the company's stock valued at $1,911,000 after buying an additional 47,676 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Morgan Stanley set a $24.00 target price on shares of Sweetgreen in a research note on Monday, April 14th. Royal Bank of Canada reissued an "outperform" rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Oppenheimer lowered their target price on shares of Sweetgreen from $41.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Finally, Piper Sandler cut their price target on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Sweetgreen currently has an average rating of "Moderate Buy" and a consensus target price of $35.91.

Sweetgreen Stock Up 1.2 %

Shares of SG opened at $17.16 on Wednesday. Sweetgreen, Inc. has a 52-week low of $16.29 and a 52-week high of $45.12. The company has a market cap of $2.01 billion, a PE ratio of -22.00 and a beta of 2.28. The business has a fifty day moving average of $22.96 and a 200 day moving average of $31.10.

Insider Activity at Sweetgreen

In related news, CFO Mitch Reback sold 10,926 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total value of $288,774.18. Following the transaction, the chief financial officer now owns 344,055 shares of the company's stock, valued at $9,093,373.65. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Rossann Williams sold 4,977 shares of the company's stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 95,516 shares of the company's stock, valued at $2,273,280.80. The trade was a 4.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,852 shares of company stock worth $871,417. Insiders own 21.52% of the company's stock.

Sweetgreen Company 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.

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