Summit Trail Advisors LLC Has $389,000 Position in Sweetgreen, Inc. (NYSE:SG)

Summit Trail Advisors LLC decreased its position in shares of Sweetgreen, Inc. (NYSE:SG) by 27.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,119 shares of the company’s stock after selling 4,580 shares during the quarter. Summit Trail Advisors LLC’s holdings in Sweetgreen were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in Sweetgreen during the 4th quarter valued at about $62,000. Calamos Advisors LLC lifted its holdings in Sweetgreen by 16.5% in the fourth quarter. Calamos Advisors LLC now owns 79,815 shares of the company’s stock valued at $2,559,000 after buying an additional 11,275 shares during the period. Deepwater Asset Management LLC bought a new position in Sweetgreen in the fourth quarter valued at approximately $13,695,000. KBC Group NV grew its holdings in Sweetgreen by 65.0% during the 4th quarter. KBC Group NV now owns 5,161 shares of the company’s stock worth $165,000 after acquiring an additional 2,034 shares during the period. Finally, Sachetta LLC raised its position in shares of Sweetgreen by 37.6% during the 4th quarter. Sachetta LLC now owns 4,324 shares of the company’s stock valued at $139,000 after acquiring an additional 1,182 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Sweetgreen news, CFO Mitch Reback sold 8,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total transaction of $265,040.00. Following the sale, the chief financial officer now directly owns 350,981 shares of the company’s stock, valued at $11,628,000.53. The trade was a 2.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jonathan Neman sold 14,745 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.00, for a total transaction of $663,525.00. Following the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $86,860,260. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 601,607 shares of company stock worth $23,177,393. Corporate insiders own 21.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. UBS Group lifted their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. TD Cowen reaffirmed a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a research note on Monday, November 18th. KeyCorp started coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Citigroup decreased their price objective on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Sweetgreen currently has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Sweetgreen Stock Up 1.7 %

Shares of NYSE:SG opened at $26.38 on Thursday. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -33.82 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 company’s fifty day simple moving average is $33.04 and its 200 day simple moving average is $34.45.

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.