Blair William & Co. IL Raises Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Blair William & Co. IL raised its stake in Sweetgreen, Inc. (NYSE:SG) by 12.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,788 shares of the company’s stock after purchasing an additional 8,278 shares during the period. Blair William & Co. IL owned 0.06% of Sweetgreen worth $2,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Verition Fund Management LLC boosted its position in shares of Sweetgreen by 189.6% in the 3rd quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock worth $6,151,000 after purchasing an additional 113,586 shares in the last quarter. Cox Capital Mgt LLC boosted its holdings in Sweetgreen by 76.0% in the fourth quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company’s stock worth $1,728,000 after acquiring an additional 23,278 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Sweetgreen by 5.4% during the third quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock worth $79,757,000 after acquiring an additional 116,243 shares during the last quarter. Diversified Trust Co increased its holdings in shares of Sweetgreen by 223.2% during the fourth quarter. Diversified Trust Co now owns 27,126 shares of the company’s stock valued at $870,000 after acquiring an additional 18,733 shares in the last quarter. Finally, Moody National Bank Trust Division purchased a new position in shares of Sweetgreen in the 4th quarter valued at approximately $1,182,000. 95.75% of the stock is currently owned by institutional investors.

Insider Activity at Sweetgreen

In other news, Director Nathaniel Ru sold 2,123 shares of the 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 $50,527.40. Following the transaction, the director now owns 1,785,099 shares in the company, valued at $42,485,356.20. This trade represents a 0.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Rossann Williams sold 4,977 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $118,452.60. Following the completion of the sale, the chief operating officer now directly owns 95,516 shares of the company’s stock, valued at approximately $2,273,280.80. The trade was a 4.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,852 shares of company stock worth $1,052,177. 21.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SG shares. The Goldman Sachs Group cut their price target on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a research report on Tuesday, February 25th. TD Securities dropped their price target on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Finally, Piper Sandler decreased their target price on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. 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 stock has an average rating of “Moderate Buy” and an average price target of $36.27.

Sweetgreen Price Performance

NYSE:SG opened at $25.45 on Wednesday. The company has a 50 day moving average price of $26.35 and a 200-day moving average price of $32.79. Sweetgreen, Inc. has a 1-year low of $18.77 and a 1-year high of $45.12. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -32.63 and a beta of 2.44.

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.