Sei Investments Co. Has $7.68 Million Position in Sweetgreen, Inc. (NYSE:SG)

Sei Investments Co. reduced its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 239,549 shares of the company's stock after selling 12,172 shares during the quarter. Sei Investments Co. owned about 0.21% of Sweetgreen worth $7,680,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SG. Deepwater Asset Management LLC acquired a new position in Sweetgreen during the fourth quarter valued at approximately $13,695,000. Amundi acquired a new position in shares of Sweetgreen in the 4th quarter valued at $9,112,000. Lord Abbett & CO. LLC increased its position in shares of Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company's stock valued at $82,032,000 after buying an additional 272,340 shares in the last quarter. Tidal Investments LLC raised its stake in Sweetgreen by 848.2% during the 3rd quarter. Tidal Investments LLC now owns 270,141 shares of the company's stock worth $9,576,000 after buying an additional 241,652 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Sweetgreen by 7.5% during the third quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company's stock worth $120,784,000 after acquiring an additional 236,874 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Stock Down 12.0 %

Shares of NYSE:SG traded down $3.07 during midday trading on Thursday, reaching $22.49. The company had a trading volume of 6,716,755 shares, compared to its average volume of 3,174,764. Sweetgreen, Inc. has a 1-year low of $18.77 and a 1-year high of $45.12. The stock has a market cap of $2.64 billion, a PE ratio of -28.83 and a beta of 2.44. The business's 50 day moving average price is $26.14 and its 200 day moving average price is $32.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. KeyCorp assumed coverage on Sweetgreen in a report on Wednesday, December 11th. They issued a "sector weight" rating for the company. The Goldman Sachs Group lowered their target price on Sweetgreen from $37.00 to $32.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $45.00 price target on shares of Sweetgreen in a research note on Tuesday, February 25th. UBS Group lowered their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, TD Securities cut their price objective on shares of Sweetgreen from $45.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Sweetgreen has a consensus rating of "Moderate Buy" and a consensus target price of $36.27.

Insiders Place Their Bets

In other news, Director Nathaniel Ru sold 2,123 shares of Sweetgreen stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the transaction, the director now owns 1,785,099 shares of the company's stock, valued at $42,485,356.20. This trade represents a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Rossann Williams sold 4,977 shares of the company's stock in a transaction dated Monday, March 17th. The shares were 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 in the company, valued at approximately $2,273,280.80. The trade was a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,852 shares of company stock valued at $1,052,177 in the last 90 days. 21.52% of the stock is currently owned by insiders.

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.