Cypress Wealth Services LLC Has $270,000 Stake in Sweetgreen, Inc. (NYSE:SG)

Cypress Wealth Services LLC raised its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,423 shares of the company’s stock after buying an additional 483 shares during the quarter. Cypress Wealth Services LLC’s holdings in Sweetgreen were worth $270,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Driehaus Capital Management LLC raised its stake in Sweetgreen by 231.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after buying an additional 1,878,216 shares during the period. Renaissance Technologies LLC acquired a new position in Sweetgreen in the second quarter valued at about $29,109,000. Stephens Investment Management Group LLC increased its holdings in shares of Sweetgreen by 139.9% in the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after acquiring an additional 547,816 shares in the last quarter. Hood River Capital Management LLC raised its position in shares of Sweetgreen by 42.6% during the second quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company’s stock worth $49,521,000 after purchasing an additional 490,806 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Sweetgreen by 13.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after purchasing an additional 272,340 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Jonathan Neman sold 1,010 shares of Sweetgreen stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total value of $40,410.10. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $77,228,422.28. This trade represents a 0.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mitch Reback sold 8,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total transaction of $265,040.00. Following the transaction, the chief financial officer now owns 350,981 shares in the company, valued at $11,628,000.53. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 648,838 shares of company stock worth $25,065,773. Corporate insiders own 21.52% of the company’s stock.

Sweetgreen Price Performance

Sweetgreen stock opened at $33.49 on Friday. The firm has a 50-day moving average of $36.04 and a 200-day moving average of $33.74. The company has a market cap of $3.87 billion, a price-to-earnings ratio of -42.93 and a beta of 2.38. Sweetgreen, Inc. has a one year low of $10.07 and a one year high of $45.12.

Analyst Ratings Changes

A number of research firms recently issued reports on SG. UBS Group increased their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Citigroup raised shares of Sweetgreen from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $49.00 in a research report on Friday, January 10th. KeyCorp assumed coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. TD Cowen reiterated a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Finally, Oppenheimer cut their price target on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and a consensus price target of $41.10.

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.