Victory Capital Management Inc. Sells 23,294 Shares of Sweetgreen, Inc. (NYSE:SG)

Victory Capital Management Inc. reduced its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 261,389 shares of the company's stock after selling 23,294 shares during the period. Victory Capital Management Inc. owned about 0.23% of Sweetgreen worth $8,380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Sweetgreen by 7.5% in the third quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company's stock valued at $120,784,000 after acquiring an additional 236,874 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in Sweetgreen by 13.3% in the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company's stock valued at $82,032,000 after acquiring an additional 272,340 shares during the last quarter. State Street Corp boosted its holdings in Sweetgreen by 3.2% in the third quarter. State Street Corp now owns 2,263,025 shares of the company's stock valued at $80,224,000 after acquiring an additional 69,120 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Sweetgreen by 5.4% in the third quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company's stock valued at $79,757,000 after acquiring an additional 116,243 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Sweetgreen by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 849,512 shares of the company's stock valued at $27,235,000 after acquiring an additional 19,263 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In related news, CFO Mitch Reback sold 10,926 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 344,055 shares in the company, valued at $9,093,373.65. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.52% of the stock is owned by company insiders.

Sweetgreen Trading Down 1.9 %

Shares of SG traded down $0.47 during trading hours on Tuesday, reaching $23.66. The stock had a trading volume of 2,127,549 shares, compared to its average volume of 3,082,970. Sweetgreen, Inc. has a 12 month low of $18.77 and a 12 month high of $45.12. The firm has a 50-day simple moving average of $27.94 and a 200 day simple moving average of $33.22. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -30.33 and a beta of 2.44.

Analysts Set New Price Targets

Several analysts recently commented on the company. Citigroup reduced their target price on Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. KeyCorp assumed coverage on Sweetgreen in a report on Wednesday, December 11th. They issued a "sector weight" rating on the stock. TD Cowen reiterated a "buy" rating and issued a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Oppenheimer cut their price target on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Finally, The Goldman Sachs Group cut their price target on Sweetgreen from $37.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.27.

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.