PSI Advisors LLC Acquires 4,295 Shares of Sweetgreen, Inc. (NYSE:SG)

PSI Advisors LLC lifted its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 64.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,008 shares of the company’s stock after purchasing an additional 4,295 shares during the quarter. PSI Advisors LLC’s holdings in Sweetgreen were worth $353,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hollencrest Capital Management bought a new position in Sweetgreen during the 3rd quarter worth about $35,000. Quest Partners LLC bought a new position in shares of Sweetgreen during the second quarter worth about $76,000. KBC Group NV raised its position in Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after buying an additional 704 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Sweetgreen in the 3rd quarter valued at approximately $155,000. Finally, Canton Hathaway LLC acquired a new position in Sweetgreen during the 3rd quarter worth approximately $177,000. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Trading Down 4.8 %

SG stock opened at $31.51 on Tuesday. Sweetgreen, Inc. has a 1-year low of $9.66 and a 1-year high of $45.12. The business’s 50 day simple moving average is $36.65 and its 200 day simple moving average is $33.71. The firm has a market capitalization of $3.64 billion, a PE ratio of -40.40 and a beta of 2.38.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. TD Cowen reissued a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. Oppenheimer reduced their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. Citigroup upgraded Sweetgreen from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $49.00 in a report on Friday. Finally, UBS Group raised their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.10.

Insiders Place Their Bets

In other news, CEO Jonathan Neman sold 14,745 shares of Sweetgreen stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.00, for a total transaction of $663,525.00. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $86,860,260. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nathaniel Ru sold 1,263 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total transaction of $50,532.63. Following the completion of the transaction, the insider now owns 1,952,129 shares in the company, valued at $78,104,681.29. This trade represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 640,838 shares of company stock valued at $24,800,733 over the last ninety days. 21.52% of the stock is currently owned by company insiders.

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.