Voya Investment Management LLC Has $24 Million Stake in Sweetgreen, Inc. (NYSE:SG)

Voya Investment Management LLC increased its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 848.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 748,581 shares of the company's stock after purchasing an additional 669,657 shares during the period. Voya Investment Management LLC owned approximately 0.65% of Sweetgreen worth $24,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp acquired a new stake in shares of Sweetgreen during the third quarter worth $287,000. Tidal Investments LLC raised its stake in Sweetgreen by 848.2% in the 3rd quarter. Tidal Investments LLC now owns 270,141 shares of the company's stock worth $9,576,000 after purchasing an additional 241,652 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Sweetgreen by 1,399.0% in the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company's stock valued at $4,365,000 after purchasing an additional 103,664 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company's stock worth $82,032,000 after purchasing an additional 272,340 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Sweetgreen by 37.2% in the third quarter. JPMorgan Chase & Co. now owns 671,045 shares of the company's stock valued at $23,789,000 after buying an additional 181,805 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.

Insider Transactions at Sweetgreen

In other Sweetgreen news, Director Nathaniel Ru sold 2,123 shares of Sweetgreen stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $50,527.40. Following the transaction, the director now directly owns 1,785,099 shares of the company's stock, valued at approximately $42,485,356.20. The trade was a 0.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Rossann Williams sold 4,977 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total value 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. The trade was a 4.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,852 shares of company stock worth $871,417. Insiders own 21.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SG shares. UBS Group reduced their price target on Sweetgreen from $45.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Citigroup decreased their price target on Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group cut their price objective on shares of Sweetgreen from $37.00 to $32.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. 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 report on Thursday, February 27th. Finally, Oppenheimer cut their price target on shares of Sweetgreen from $41.00 to $35.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.91.

Sweetgreen Stock Up 0.7 %

Shares of SG opened at $19.26 on Friday. The stock has a market cap of $2.26 billion, a PE ratio of -24.69 and a beta of 2.28. Sweetgreen, Inc. has a 12-month low of $16.29 and a 12-month high of $45.12. The business has a 50-day simple moving average of $22.51 and a two-hundred day simple moving average of $30.72.

Sweetgreen 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.

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