Pier Capital LLC Decreases Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Pier Capital LLC lowered its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 22.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 226,231 shares of the company’s stock after selling 67,102 shares during the period. Pier Capital LLC owned approximately 0.20% of Sweetgreen worth $7,253,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its stake in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after buying an additional 1,000 shares during the last quarter. Millstone Evans Group LLC purchased a new position in Sweetgreen in the fourth quarter worth about $53,000. Denver PWM LLC purchased a new position in Sweetgreen in the fourth quarter worth about $60,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Sweetgreen during the 4th quarter valued at about $62,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in shares of Sweetgreen during the 4th quarter valued at about $77,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. 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. Citigroup cut their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group decreased their target price on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. KeyCorp assumed coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. Finally, 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. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.27.

Insider Activity

In other Sweetgreen news, CEO Jonathan Neman sold 5,717 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $136,064.60. Following the sale, the chief executive officer now directly owns 1,810,263 shares of the company’s stock, valued at $43,084,259.40. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total value of $288,774.18. Following the completion of the transaction, the chief financial officer now owns 344,055 shares of the company’s stock, valued at approximately $9,093,373.65. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,852 shares of company stock worth $1,052,177 over the last quarter. Insiders own 21.52% of the company’s stock.

Sweetgreen Trading Up 4.8 %

NYSE SG opened at $26.13 on Tuesday. Sweetgreen, Inc. has a 12 month low of $18.77 and a 12 month high of $45.12. The stock has a market cap of $3.07 billion, a PE ratio of -33.50 and a beta of 2.44. The stock’s 50 day moving average is $27.19 and its 200 day moving average is $33.02.

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.