Massachusetts Financial Services Co. MA acquired a new stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,639,374 shares of the company's stock, valued at approximately $52,558,000. Massachusetts Financial Services Co. MA owned about 1.42% of Sweetgreen at the end of the most recent reporting period.
Several other large investors have also modified their holdings of SG. Cypress Wealth Services LLC grew its stake in shares of Sweetgreen by 6.1% during the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company's stock valued at $270,000 after buying an additional 483 shares during the period. Hillsdale Investment Management Inc. grew its position in Sweetgreen by 1.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company's stock valued at $1,608,000 after acquiring an additional 600 shares during the period. Arizona State Retirement System increased its stake in Sweetgreen by 2.1% during the fourth quarter. Arizona State Retirement System now owns 29,535 shares of the company's stock worth $947,000 after acquiring an additional 613 shares during the last quarter. Xponance Inc. raised its holdings in shares of Sweetgreen by 10.8% in the 4th quarter. Xponance Inc. now owns 7,185 shares of the company's stock worth $230,000 after purchasing an additional 702 shares during the period. Finally, Headlands Technologies LLC increased its position in Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock worth $39,000 after purchasing an additional 741 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
SG has been the subject of a number of research reports. The Goldman Sachs Group decreased their price target 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. TD Securities lowered their target price on Sweetgreen from $45.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. KeyCorp started coverage on Sweetgreen in a research report on Wednesday, December 11th. They set a "sector weight" rating on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Finally, Morgan Stanley decreased their target price 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. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $36.27.
Check Out Our Latest Stock Report on SG
Sweetgreen Stock Down 6.5 %
Shares of NYSE:SG traded down $1.49 during trading on Thursday, hitting $21.25. 1,252,221 shares of the company traded hands, compared to its average volume of 3,230,178. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -27.24 and a beta of 2.28. Sweetgreen, Inc. has a one year low of $18.62 and a one year high of $45.12. The business's fifty day moving average is $24.80 and its 200-day moving average is $32.07.
Insider Transactions at Sweetgreen
In related news, CEO Jonathan Neman sold 5,717 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the completion of the sale, the chief executive officer now directly owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mitch Reback sold 10,926 shares of the business's 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 completion of the sale, the chief financial officer now owns 344,055 shares of the company's stock, valued at approximately $9,093,373.65. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 39,852 shares of company stock valued at $1,052,177. Company insiders own 21.52% of the company's stock.
Sweetgreen Company Profile
(
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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