Osterweis Capital Management Inc. Reduces Position in Sweetgreen, Inc. (NYSE:SG)

Osterweis Capital Management Inc. lessened its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 315,895 shares of the company's stock after selling 34,045 shares during the period. Osterweis Capital Management Inc. owned 0.27% of Sweetgreen worth $10,128,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC increased its holdings in Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC lifted its stake in Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after acquiring an additional 741 shares in the last quarter. Millstone Evans Group LLC purchased a new position in Sweetgreen during the 4th quarter worth $53,000. Denver PWM LLC bought a new stake in shares of Sweetgreen in the 4th quarter worth $60,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Sweetgreen during the fourth quarter valued at about $62,000. 95.75% of the stock is owned by institutional investors.

Insider Activity at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 10,926 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the sale, the chief financial officer now owns 344,055 shares of the company's stock, valued at approximately $9,093,373.65. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Rossann Williams sold 4,977 shares of the 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 completion of the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,852 shares of company stock worth $871,417. 21.52% of the stock is owned by insiders.

Sweetgreen Stock Up 3.3 %

SG traded up $0.57 during mid-day trading on Tuesday, reaching $17.53. 1,171,047 shares of the company traded hands, compared to its average volume of 3,310,383. The company's fifty day moving average price is $23.16 and its 200-day moving average price is $31.19. The stock has a market capitalization of $2.06 billion, a P/E ratio of -22.49 and a beta of 2.28. Sweetgreen, Inc. has a 52-week low of $16.29 and a 52-week high of $45.12.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SG. Morgan Stanley set a $24.00 target price on shares of Sweetgreen in a research report on Monday, April 14th. Piper Sandler decreased their target price on shares of Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. TD Securities dropped their target price on shares of Sweetgreen from $45.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Oppenheimer reduced their target price on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $45.00 target price on shares of Sweetgreen in a research note on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $35.91.

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.