Rockefeller Capital Management L.P. Sells 22,275 Shares of Sweetgreen, Inc. (NYSE:SG)

Rockefeller Capital Management L.P. trimmed its holdings in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 48.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,808 shares of the company's stock after selling 22,275 shares during the period. Rockefeller Capital Management L.P.'s holdings in Sweetgreen were worth $844,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Hollencrest Capital Management bought a new stake in Sweetgreen in the 3rd quarter valued at about $35,000. Quest Partners LLC acquired a new stake in Sweetgreen in the second quarter valued at approximately $76,000. KBC Group NV increased its holdings in shares of Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company's stock valued at $111,000 after acquiring an additional 704 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Sweetgreen during the third quarter worth approximately $155,000. Finally, Canton Hathaway LLC bought a new position in shares of Sweetgreen in the 3rd quarter worth $177,000. Institutional investors and hedge funds own 95.75% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on SG. The Goldman Sachs Group restated a "neutral" rating and set a $40.00 price target on shares of Sweetgreen in a research note on Friday, November 8th. Bank of America upped their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, August 19th. Oppenheimer lifted their price target on Sweetgreen from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. UBS Group increased their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, 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. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $39.80.

Sweetgreen Stock Down 2.8 %

SG stock traded down $1.07 during midday trading on Tuesday, hitting $36.60. The company's stock had a trading volume of 2,638,665 shares, compared to its average volume of 2,866,488. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of -46.92 and a beta of 2.32. The stock's 50-day moving average price is $38.20 and its 200 day moving average price is $33.29. Sweetgreen, Inc. has a 1 year low of $9.66 and a 1 year high of $45.12.

Insider Transactions at Sweetgreen

In related news, insider Nicolas Jammet sold 33,598 shares of Sweetgreen stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $40.14, for a total value of $1,348,623.72. Following the completion of the sale, the insider now owns 1,930,233 shares of the company's stock, valued at approximately $77,479,552.62. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jonathan Neman sold 33,444 shares of the company's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $40.16, for a total transaction of $1,343,111.04. Following the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $77,517,956.48. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 332,088 shares of company stock worth $12,951,071 in the last ninety days. Company 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.