Sweetgreen, Inc. (NYSE:SG) Shares Sold by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC trimmed its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,329 shares of the company’s stock after selling 2,245 shares during the period. Summit Place Financial Advisors LLC’s holdings in Sweetgreen were worth $1,549,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cypress Wealth Services LLC boosted its stake in Sweetgreen by 6.1% during the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock valued at $270,000 after buying an additional 483 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Sweetgreen by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after buying an additional 537 shares in the last quarter. KBC Group NV boosted its stake in Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after buying an additional 704 shares in the last quarter. Pier Capital LLC boosted its stake in Sweetgreen by 0.3% during the third quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after buying an additional 761 shares in the last quarter. Finally, Fishman Jay A Ltd. MI boosted its stake in Sweetgreen by 7.7% during the fourth quarter. Fishman Jay A Ltd. MI now owns 12,525 shares of the company’s stock valued at $402,000 after buying an additional 900 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Stock Down 9.3 %

SG opened at $24.67 on Wednesday. Sweetgreen, Inc. has a fifty-two week low of $10.93 and a fifty-two week high of $45.12. The business has a 50-day moving average of $32.04 and a 200-day moving average of $34.49.

Insider Transactions at Sweetgreen

In related news, CFO Mitch Reback sold 72,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 43,901 shares of the company’s stock, valued at approximately $1,658,140.77. This trade represents a 62.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicolas Jammet sold 14,551 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $45.00, for a total value of $654,795.00. Following the completion of the transaction, the insider now directly owns 1,930,233 shares in the company, valued at $86,860,485. The trade was a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 539,651 shares of company stock valued at $20,895,162 in the last three months. Corporate insiders own 21.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Morgan Stanley decreased their target price 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. UBS Group increased their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. TD Cowen reiterated a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. Finally, Oppenheimer decreased their price objective on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

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.