KLP Kapitalforvaltning AS Acquires Shares of 21,400 Sweetgreen, Inc. (NYSE:SG)

KLP Kapitalforvaltning AS acquired a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,400 shares of the company's stock, valued at approximately $686,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SG. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sweetgreen by 8.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 830,249 shares of the company's stock worth $29,432,000 after purchasing an additional 64,205 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sweetgreen by 8.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,841 shares of the company's stock worth $881,000 after buying an additional 1,950 shares during the last quarter. Verition Fund Management LLC grew its holdings in Sweetgreen by 189.6% in the 3rd quarter. Verition Fund Management LLC now owns 173,501 shares of the company's stock valued at $6,151,000 after buying an additional 113,586 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sweetgreen in the 3rd quarter worth $193,000. Finally, Centiva Capital LP purchased a new position in shares of Sweetgreen during the 3rd quarter worth $936,000. Institutional investors and hedge funds own 95.75% of the company's stock.

Insider Transactions at Sweetgreen

In other news, CFO Mitch Reback sold 10,926 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 344,055 shares in the company, valued at approximately $9,093,373.65. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan Neman sold 5,717 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the transaction, the chief executive officer now directly owns 1,810,263 shares of the company's stock, valued at $43,084,259.40. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,852 shares of company stock valued at $1,052,177. 21.52% of the stock is currently owned by corporate insiders.

Remove Ads

Wall Street Analyst Weigh In

SG has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price objective on shares of Sweetgreen from $37.00 to $32.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Citigroup cut their price target on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Morgan Stanley reduced their price target on shares of Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 21st. KeyCorp began coverage on Sweetgreen in a research report on Wednesday, December 11th. They issued a "sector weight" rating for the company. Finally, Piper Sandler reduced their target price on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.27.

Sweetgreen Trading Down 12.0 %

SG traded down $3.07 during mid-day trading on Thursday, hitting $22.49. 6,716,755 shares of the stock were exchanged, compared to its average volume of 3,174,762. The company has a market cap of $2.64 billion, a PE ratio of -28.83 and a beta of 2.44. The firm's fifty day moving average is $26.14 and its two-hundred day moving average is $32.67. Sweetgreen, Inc. has a 1-year low of $18.77 and a 1-year high of $45.12.

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.