Sweetgreen, Inc. (NYSE:SG) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lowered its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 31.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 77,137 shares of the company’s stock after selling 35,510 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Sweetgreen were worth $2,473,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its position in Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after purchasing an additional 1,000 shares during the period. Hollencrest Capital Management bought a new position in shares of Sweetgreen during the 3rd quarter valued at about $35,000. Denver PWM LLC bought a new stake in Sweetgreen during the fourth quarter worth approximately $60,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Sweetgreen during the 4th quarter worth $62,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new position in Sweetgreen in the 4th quarter worth about $77,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SG shares. TD Securities lowered their price objective on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Piper Sandler reduced their target price on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Citigroup reduced their price target on Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. TD Cowen reaffirmed a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a report on Monday, November 18th. Finally, KeyCorp started coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating for the company. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and an average target price of $36.27.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 8,000 shares of Sweetgreen stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total value of $265,040.00. Following the completion of the transaction, the chief financial officer now owns 350,981 shares in the company, valued at approximately $11,628,000.53. The trade was a 2.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicolas Jammet sold 170,199 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the sale, the insider now directly owns 1,760,034 shares in the company, valued at approximately $66,406,082.82. This represents a 8.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,125 shares of company stock worth $6,975,422 over the last three months. Company insiders own 21.52% of the company’s stock.

Sweetgreen Trading Up 1.8 %

NYSE SG opened at $23.95 on Monday. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -30.71 and a beta of 2.44. Sweetgreen, Inc. has a 1-year low of $18.62 and a 1-year high of $45.12. The stock’s 50 day moving average is $28.95 and its two-hundred day moving average is $33.64.

Sweetgreen Company 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.