EFG Asset Management North America Corp. Has $2.35 Million Holdings in Sweetgreen, Inc. (NYSE:SG)

EFG Asset Management North America Corp. boosted its stake in Sweetgreen, Inc. (NYSE:SG) by 59.6% in the fourth quarter, HoldingsChannel reports. The firm owned 73,405 shares of the company’s stock after acquiring an additional 27,400 shares during the period. EFG Asset Management North America Corp.’s holdings in Sweetgreen were worth $2,352,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC raised its holdings in Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Sweetgreen in the 4th quarter valued at $53,000. Denver PWM LLC acquired a new stake in Sweetgreen during the 4th quarter worth $60,000. Wilmington Savings Fund Society FSB bought a new position in Sweetgreen during the fourth quarter worth about $62,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new position in Sweetgreen in the fourth quarter valued at about $77,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Trading Down 1.5 %

Shares of SG stock opened at $25.73 on Wednesday. The firm’s fifty day moving average price is $27.05 and its two-hundred day moving average price is $33.01. Sweetgreen, Inc. has a 1 year low of $18.77 and a 1 year high of $45.12. The firm has a market capitalization of $3.02 billion, a P/E ratio of -32.99 and a beta of 2.44.

Insider Activity

In other news, Director Nathaniel Ru sold 2,123 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $50,527.40. Following the sale, the director now directly owns 1,785,099 shares of the company’s stock, valued at approximately $42,485,356.20. This represents a 0.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Neman sold 5,717 shares of Sweetgreen stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the transaction, the chief executive officer now 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 position. The disclosure for this sale can be found here. Insiders sold 39,852 shares of company stock worth $1,052,177 in the last quarter. Corporate insiders own 21.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Morgan Stanley dropped their price target 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. The Goldman Sachs Group dropped their target price 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 price target on shares of Sweetgreen in a report on Tuesday, February 25th. KeyCorp started coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating for the company. Finally, TD Securities cut 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. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Sweetgreen presently has a consensus rating of “Moderate Buy” and an average target price of $36.27.

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.