Rossann Williams Sells 4,977 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG - Get Free Report) COO Rossann Williams sold 4,977 shares of Sweetgreen stock in a transaction 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 transaction, the chief operating officer now directly owns 95,516 shares of the company's stock, valued at approximately $2,273,280.80. This trade represents a 4.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Sweetgreen Price Performance

SG traded up $0.54 during trading on Friday, hitting $24.97. 4,235,812 shares of the stock traded hands, compared to its average volume of 3,089,389. The business has a 50 day moving average price of $27.30 and a 200 day moving average price of $32.99. Sweetgreen, Inc. has a twelve month low of $18.77 and a twelve month high of $45.12. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -32.01 and a beta of 2.44.

Hedge Funds Weigh In On Sweetgreen

A number of institutional investors have recently added to or reduced their stakes in SG. Massachusetts Financial Services Co. MA bought a new stake in shares of Sweetgreen during the fourth quarter worth $52,558,000. Invesco Ltd. grew its position in Sweetgreen by 40.9% during the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company's stock worth $176,850,000 after acquiring an additional 1,601,666 shares during the last quarter. Wellington Management Group LLP increased its holdings in Sweetgreen by 30.1% in the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company's stock worth $142,106,000 after purchasing an additional 1,025,341 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in Sweetgreen by 189.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company's stock worth $36,369,000 after purchasing an additional 743,157 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in Sweetgreen by 848.5% in the fourth quarter. Voya Investment Management LLC now owns 748,581 shares of the company's stock valued at $24,000,000 after purchasing an additional 669,657 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SG shares. TD Securities reduced their price objective on Sweetgreen from $45.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Citigroup decreased their price objective on Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Oppenheimer dropped their target price on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Piper Sandler reduced their target price on shares of Sweetgreen from $39.00 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, Morgan Stanley lowered 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. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.27.

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.