Sweetgreen, Inc. (NYSE:SG) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its holdings in Sweetgreen, Inc. (NYSE:SG) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,418 shares of the company’s stock after selling 1,050 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Sweetgreen were worth $462,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Cypress Wealth Services LLC grew its holdings in shares of Sweetgreen by 6.1% during the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock valued at $270,000 after buying an additional 483 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Sweetgreen by 2.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after acquiring an additional 537 shares during the period. KBC Group NV grew its stake in Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares during the last quarter. Pier Capital LLC increased its holdings in shares of Sweetgreen by 0.3% in the third quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after purchasing an additional 761 shares during the period. Finally, Fishman Jay A Ltd. MI raised its stake in shares of Sweetgreen by 7.7% in the fourth quarter. Fishman Jay A Ltd. MI now owns 12,525 shares of the company’s stock worth $402,000 after purchasing an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 10,926 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the transaction, the chief financial officer now directly owns 344,055 shares in the company, valued at approximately $9,093,373.65. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan Neman sold 33,444 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $40.16, for a total transaction of $1,343,111.04. Following the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $77,517,956.48. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 433,013 shares of company stock valued at $16,439,025 in the last three months. 21.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SG. Morgan Stanley dropped their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. TD Securities dropped their price objective on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. KeyCorp assumed coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. The Goldman Sachs Group lowered their price target on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Four research 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, Sweetgreen has a consensus rating of “Moderate Buy” and a consensus price target of $36.27.

Sweetgreen Trading Down 5.4 %

Shares of SG stock opened at $21.54 on Tuesday. Sweetgreen, Inc. has a 12-month low of $16.42 and a 12-month high of $45.12. The business’s 50 day moving average is $29.76 and its two-hundred day moving average is $33.98. The company has a market capitalization of $2.49 billion, a P/E ratio of -27.62 and a beta of 2.37.

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.