Hillsdale Investment Management Inc. Acquires 600 Shares of Sweetgreen, Inc. (NYSE:SG)

Hillsdale Investment Management Inc. lifted its stake in Sweetgreen, Inc. (NYSE:SG) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,164 shares of the company’s stock after purchasing an additional 600 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Sweetgreen were worth $1,608,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Natixis Advisors LLC boosted its holdings in Sweetgreen by 91.9% in the third quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock worth $1,077,000 after acquiring an additional 14,545 shares in the last quarter. Quest Partners LLC boosted its stake in Sweetgreen by 68.4% in the 3rd quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock worth $151,000 after purchasing an additional 1,728 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in Sweetgreen during the 3rd quarter valued at about $505,000. Intech Investment Management LLC bought a new stake in Sweetgreen during the 3rd quarter valued at about $1,045,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Sweetgreen by 8.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 830,249 shares of the company’s stock worth $29,432,000 after buying an additional 64,205 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Insider Buying and Selling

In related news, CFO Mitch Reback sold 8,109 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.84, for a total transaction of $193,318.56. Following the completion of the transaction, the chief financial officer now owns 350,023 shares in the company, valued at approximately $8,344,548.32. This represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Neman sold 5,717 shares of Sweetgreen stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $136,064.60. Following the completion of the sale, the chief executive officer now owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,852 shares of company stock worth $1,052,177. 21.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on SG. Piper Sandler cut their price target 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. Morgan Stanley reduced their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. The Goldman Sachs Group decreased their price target on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Tuesday, February 25th. Finally, KeyCorp started coverage on Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.27.

Sweetgreen Stock Performance

Shares of SG stock opened at $24.97 on Friday. The stock has a fifty day simple moving average of $27.30 and a two-hundred day simple moving average of $33.02. Sweetgreen, Inc. has a 52-week low of $18.77 and a 52-week high of $45.12. The firm has a market capitalization of $2.93 billion, a PE ratio of -32.01 and a beta of 2.44.

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.