Denver PWM LLC Invests $60,000 in Sweetgreen, Inc. (NYSE:SG)

Denver PWM LLC bought a new position in shares of Sweetgreen, Inc. (NYSE:SG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,867 shares of the company’s stock, valued at approximately $60,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Stephens Investment Management Group LLC increased its holdings in Sweetgreen by 139.9% in the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after buying an additional 547,816 shares during the last quarter. Deepwater Asset Management LLC bought a new stake in Sweetgreen in the fourth quarter valued at about $13,695,000. Lord Abbett & CO. LLC increased its holdings in Sweetgreen by 13.3% in the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after buying an additional 272,340 shares during the last quarter. Tidal Investments LLC increased its holdings 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 buying an additional 241,652 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Sweetgreen by 7.5% in the third 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 owned by hedge funds and other institutional investors.

Sweetgreen Price Performance

SG opened at $21.87 on Friday. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of -28.03 and a beta of 2.37. Sweetgreen, Inc. has a 1-year low of $11.16 and a 1-year high of $45.12. The business has a 50 day moving average price of $31.19 and a two-hundred day moving average price of $34.37.

Insiders Place Their Bets

In other Sweetgreen news, insider Nicolas Jammet sold 14,551 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $654,795.00. Following the transaction, the insider now owns 1,930,233 shares of the company’s stock, valued at approximately $86,860,485. This represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 10,926 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total value of $288,774.18. Following the completion of the transaction, the chief financial officer now directly owns 344,055 shares in the company, valued at $9,093,373.65. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 550,577 shares of company stock worth $21,183,936 over the last ninety days. Company insiders own 21.52% of the company’s stock.

Analyst Ratings Changes

SG has been the subject of several recent research reports. Citigroup lowered their target price on Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. UBS Group upped their target price on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a report on Friday, November 8th. KeyCorp initiated coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. Finally, Oppenheimer lowered their target price on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Sweetgreen has an average rating of “Moderate Buy” and a consensus target price of $40.60.

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.