Victory Capital Management Inc. Sells 157,797 Shares of Sweetgreen, Inc. (NYSE:SG)

Victory Capital Management Inc. trimmed its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 35.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 284,683 shares of the company's stock after selling 157,797 shares during the quarter. Victory Capital Management Inc. owned about 0.25% of Sweetgreen worth $10,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Essex Investment Management Co. LLC increased its stake in Sweetgreen by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company's stock valued at $3,993,000 after purchasing an additional 314 shares in the last quarter. Evolutionary Tree Capital Management LLC raised its holdings in shares of Sweetgreen by 0.7% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company's stock worth $1,982,000 after acquiring an additional 474 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Sweetgreen by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company's stock valued at $990,000 after acquiring an additional 537 shares in the last quarter. Hollencrest Capital Management acquired a new position in Sweetgreen during the 3rd quarter valued at about $35,000. Finally, Los Angeles Capital Management LLC increased its holdings in Sweetgreen by 7.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 15,468 shares of the company's stock worth $548,000 after purchasing an additional 1,050 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company's stock.

Sweetgreen Stock Up 5.3 %

Shares of NYSE SG traded up $2.19 during trading hours on Friday, reaching $43.44. 4,324,762 shares of the stock traded hands, compared to its average volume of 2,888,376. Sweetgreen, Inc. has a 52-week low of $9.21 and a 52-week high of $44.75. The company has a market capitalization of $5.02 billion, a P/E ratio of -55.69 and a beta of 2.32. The company's 50-day simple moving average is $36.93 and its two-hundred day simple moving average is $32.38.

Analysts Set New Price Targets

SG has been the topic of several analyst reports. Morgan Stanley lifted their target price on Sweetgreen from $25.00 to $27.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. Piper Sandler reaffirmed a "neutral" rating and set a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. TD Cowen reissued a "buy" rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Finally, Oppenheimer lifted their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.80.

Insider Buying and Selling

In related news, Director Bradley E. Singer sold 42,730 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $38.09, for a total transaction of $1,627,585.70. Following the completion of the sale, the director now owns 139,052 shares in the company, valued at approximately $5,296,490.68. This represents a 23.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adrienne Gemperle sold 5,372 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $182,916.60. Following the completion of the transaction, the insider now directly owns 107,313 shares in the company, valued at approximately $3,654,007.65. This represents a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 503,671 shares of company stock valued at $18,138,774 over the last three months. Corporate insiders own 21.52% of the company's stock.

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.