Lisanti Capital Growth LLC Has $1.83 Million Position in Sweetgreen, Inc. (NYSE:SG)

Lisanti Capital Growth LLC trimmed its position in Sweetgreen, Inc. (NYSE:SG) by 43.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,145 shares of the company’s stock after selling 43,060 shares during the period. Lisanti Capital Growth LLC’s holdings in Sweetgreen were worth $1,832,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hollencrest Capital Management acquired a new position in shares of Sweetgreen in the 3rd quarter valued at $35,000. Steward Partners Investment Advisory LLC lifted its position in Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after acquiring an additional 1,000 shares in the last quarter. Denver PWM LLC bought a new stake in Sweetgreen in the 4th quarter valued at $60,000. Wilmington Savings Fund Society FSB acquired a new position in Sweetgreen in the 4th quarter worth $62,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in Sweetgreen during the 4th quarter worth about $77,000. Institutional investors own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. TD Cowen reaffirmed a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. KeyCorp assumed coverage on Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Citigroup lowered their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Morgan Stanley reduced their target price 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 $41.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.27.

Insider Activity at Sweetgreen

In related news, CFO Mitch Reback sold 72,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $37.77, for a total value of $2,719,440.00. Following the sale, the chief financial officer now owns 43,901 shares in the company, valued at approximately $1,658,140.77. This represents a 62.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan Neman sold 51,128 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $38.60, for a total value of $1,973,540.80. Following the sale, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at $74,506,800.80. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 365,971 shares of company stock worth $13,747,290. Insiders own 21.52% of the company’s stock.

Sweetgreen Price Performance

Shares of SG opened at $23.51 on Friday. The company has a market cap of $2.72 billion, a PE ratio of -30.14 and a beta of 2.44. The firm has a 50-day moving average of $29.12 and a 200-day moving average of $33.72. Sweetgreen, Inc. has a one year low of $18.44 and a one year high of $45.12.

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.