Sweetgreen, Inc. (NYSE:SG) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lessened its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 31.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 77,137 shares of the company’s stock after selling 35,510 shares during the period. Essex Investment Management Co. LLC owned 0.07% of Sweetgreen worth $2,473,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Deepwater Asset Management LLC purchased a new position in shares of Sweetgreen during the fourth quarter worth $13,695,000. Amundi purchased a new position in Sweetgreen in the fourth quarter valued at $9,112,000. Lord Abbett & CO. LLC increased its holdings in shares of Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after acquiring an additional 272,340 shares during the last quarter. Tidal Investments LLC increased its stake in Sweetgreen by 848.2% in the third quarter. Tidal Investments LLC now owns 270,141 shares of the company’s stock valued at $9,576,000 after purchasing an additional 241,652 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Sweetgreen by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock valued at $120,784,000 after buying an additional 236,874 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Sweetgreen news, insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction that occurred 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. The trade was a 8.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the transaction, the chief financial officer now owns 344,055 shares in the company, valued at $9,093,373.65. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 189,125 shares of company stock valued at $6,975,422 in the last 90 days. 21.52% of the stock is currently owned by insiders.

Sweetgreen Trading Up 1.8 %

Sweetgreen stock opened at $23.95 on Monday. The stock has a fifty day moving average price of $28.95 and a 200 day moving average price of $33.64. Sweetgreen, Inc. has a 52 week low of $18.62 and a 52 week high of $45.12. The firm has a market capitalization of $2.77 billion, a P/E ratio of -30.71 and a beta of 2.44.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group dropped their price target on Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group cut their price target on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. TD Securities reduced their target price on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, February 27th. TD Cowen reissued a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a research note on Monday, November 18th. Finally, Morgan Stanley decreased their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and nine have issued 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.

About Sweetgreen

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.