Stephens Investment Management Group LLC lessened its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 890,805 shares of the company's stock after selling 48,530 shares during the period. Stephens Investment Management Group LLC owned approximately 0.77% of Sweetgreen worth $28,559,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in Sweetgreen by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company's stock worth $120,784,000 after buying an additional 236,874 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company's stock worth $82,032,000 after buying an additional 272,340 shares in the last quarter. State Street Corp grew its stake in Sweetgreen by 3.2% in the 3rd quarter. State Street Corp now owns 2,263,025 shares of the company's stock worth $80,224,000 after buying an additional 69,120 shares in the last quarter. Geode Capital Management LLC grew its stake in Sweetgreen by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company's stock worth $79,757,000 after buying an additional 116,243 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Sweetgreen by 13.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,258,484 shares of the company's stock worth $44,613,000 after buying an additional 148,684 shares in the last quarter. Institutional investors own 95.75% of the company's stock.
Sweetgreen Price Performance
SG stock traded up $0.91 during trading on Thursday, hitting $27.24. 2,670,174 shares of the stock traded hands, compared to its average volume of 2,762,315. Sweetgreen, Inc. has a 1 year low of $10.93 and a 1 year high of $45.12. The firm's 50 day moving average is $32.78 and its two-hundred day moving average is $34.40. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -34.92 and a beta of 2.37.
Insider Activity at Sweetgreen
In related news, CTO Wouleta Ayele sold 4,347 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $148,015.35. Following the sale, the chief technology officer now directly owns 140,302 shares of the company's stock, valued at approximately $4,777,283.10. This represents a 3.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mitch Reback sold 8,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total transaction of $265,040.00. Following the sale, the chief financial officer now directly owns 350,981 shares in the company, valued at $11,628,000.53. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 601,607 shares of company stock valued at $23,177,393. 21.52% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on SG shares. Morgan Stanley cut their price target 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. TD Cowen reaffirmed a "buy" rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. KeyCorp initiated coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a "sector weight" rating for the company. Citigroup cut their price objective on shares of Sweetgreen from $49.00 to $43.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, UBS Group upped their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $40.60.
Read Our Latest Stock Report on Sweetgreen
About Sweetgreen
(
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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