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

Legato Capital Management LLC lessened its stake in Sweetgreen, Inc. (NYSE:SG) by 24.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,593 shares of the company’s stock after selling 18,608 shares during the period. Legato Capital Management LLC’s holdings in Sweetgreen were worth $1,814,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hollencrest Capital Management acquired a new position in Sweetgreen in the third quarter worth about $35,000. Wilmington Savings Fund Society FSB acquired a new position in Sweetgreen in the fourth quarter worth about $62,000. KBC Group NV raised its position in Sweetgreen by 29.1% in the third 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. Sachetta LLC raised its position in Sweetgreen by 37.6% in the fourth quarter. Sachetta LLC now owns 4,324 shares of the company’s stock worth $139,000 after purchasing an additional 1,182 shares in the last quarter. Finally, Quest Partners LLC raised its position in Sweetgreen by 68.4% in the third quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock worth $151,000 after purchasing an additional 1,728 shares in the last quarter. Institutional investors own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

SG has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. UBS Group raised their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. KeyCorp began coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating for the company. Morgan Stanley lowered their price target on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Finally, Oppenheimer lowered their price target on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Sweetgreen Trading Down 10.5 %

SG opened at $25.96 on Wednesday. The stock has a market capitalization of $3.00 billion, a P/E ratio of -33.28 and a beta of 2.37. Sweetgreen, Inc. has a 12 month low of $10.93 and a 12 month high of $45.12. The firm’s fifty day simple moving average is $33.32 and its 200 day simple moving average is $34.51.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, insider Adrienne Gemperle sold 5,372 shares of Sweetgreen stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $182,916.60. Following the sale, the insider now directly owns 107,313 shares in the company, valued at approximately $3,654,007.65. The trade was a 4.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Wouleta Ayele sold 4,347 shares of the business’s stock in a transaction dated 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 owns 140,302 shares in the company, valued at $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. In the last three months, insiders have sold 601,607 shares of company stock worth $23,177,393. Insiders own 21.52% of the company’s stock.

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.