Legato Capital Management LLC Sells 18,608 Shares of Sweetgreen, Inc. (NYSE:SG)

Legato Capital Management LLC decreased its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 24.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 56,593 shares of the company’s stock after selling 18,608 shares during the quarter. Legato Capital Management LLC’s holdings in Sweetgreen were worth $1,814,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cypress Wealth Services LLC increased its position in Sweetgreen by 6.1% during the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock worth $270,000 after purchasing an additional 483 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased 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 purchasing an additional 537 shares in the last quarter. KBC Group NV increased its position in Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares in the last quarter. Pier Capital LLC increased its position in Sweetgreen by 0.3% during the 3rd quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock worth $10,399,000 after purchasing an additional 761 shares in the last quarter. Finally, Fishman Jay A Ltd. MI increased its position in Sweetgreen by 7.7% during the 4th 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 in the last quarter. Institutional investors own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

SG has been the subject of a number of research analyst reports. KeyCorp initiated coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating for the company. Morgan Stanley decreased their price target on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. UBS Group upped their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Citigroup decreased their price target on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Sweetgreen has an average rating of “Moderate Buy” and an average target price of $40.60.

Insider Transactions at Sweetgreen

In related news, insider Nicolas Jammet sold 170,199 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the transaction, the insider now directly owns 1,760,034 shares of the company’s stock, valued at $66,406,082.82. This represents a 8.82 % 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 the SEC website. Also, CTO Wouleta Ayele sold 4,347 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.05, for a total transaction of $148,015.35. Following the transaction, the chief technology officer now directly owns 140,302 shares in the company, valued at approximately $4,777,283.10. This represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,607 shares of company stock worth $23,177,393 over the last three months. 21.52% of the stock is owned by company insiders.

Sweetgreen Stock Down 10.5 %

SG opened at $25.96 on Wednesday. Sweetgreen, Inc. has a twelve month low of $10.93 and a twelve month high of $45.12. The company has a fifty day moving average of $33.32 and a 200-day moving average of $34.51. The stock has a market cap of $3.00 billion, a PE ratio of -33.28 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.