Los Angeles Capital Management LLC Decreases Holdings in Sweetgreen, Inc. (NYSE:SG)

Los Angeles Capital Management LLC decreased its holdings in Sweetgreen, Inc. (NYSE:SG) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,418 shares of the company’s stock after selling 1,050 shares during the period. Los Angeles Capital Management LLC’s holdings in Sweetgreen were worth $462,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SG. Deepwater Asset Management LLC bought a new position in Sweetgreen during the fourth quarter valued at $13,695,000. Lord Abbett & CO. LLC raised its position in Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock worth $82,032,000 after purchasing an additional 272,340 shares during the period. Tidal Investments LLC lifted its stake in Sweetgreen by 848.2% in the third quarter. Tidal Investments LLC now owns 270,141 shares of the company’s stock worth $9,576,000 after purchasing an additional 241,652 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Sweetgreen by 7.5% during 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 period. Finally, JPMorgan Chase & Co. grew its stake in shares of Sweetgreen by 37.2% during the third quarter. JPMorgan Chase & Co. now owns 671,045 shares of the company’s stock valued at $23,789,000 after buying an additional 181,805 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Performance

Shares of SG opened at $21.54 on Tuesday. The stock has a market capitalization of $2.49 billion, a PE ratio of -27.62 and a beta of 2.37. The company has a 50 day moving average price of $29.76 and a 200-day moving average price of $33.98. Sweetgreen, Inc. has a fifty-two week low of $16.42 and a fifty-two week high of $45.12.

Insiders Place Their Bets

In other Sweetgreen news, CFO Mitch Reback sold 10,926 shares of the business’s stock in a transaction dated 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 approximately $9,093,373.65. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicolas Jammet sold 33,598 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $40.14, for a total transaction of $1,348,623.72. Following the sale, the insider now directly owns 1,930,233 shares of the company’s stock, valued at approximately $77,479,552.62. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 433,013 shares of company stock worth $16,439,025 over the last 90 days. Company insiders own 21.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SG shares. TD Securities decreased their price target on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Piper Sandler lowered their target price on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Citigroup cut their price target 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. UBS Group decreased their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, TD Cowen reissued a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.27.

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.