Massachusetts Financial Services Co. MA Invests $52.56 Million in Sweetgreen, Inc. (NYSE:SG)

Massachusetts Financial Services Co. MA bought a new position in shares of Sweetgreen, Inc. (NYSE:SG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,639,374 shares of the company’s stock, valued at approximately $52,558,000.

A number of other hedge funds have also bought and sold shares of the company. Cypress Wealth Services LLC boosted its holdings in shares of Sweetgreen by 6.1% during the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock worth $270,000 after buying an additional 483 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Sweetgreen by 1.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock valued at $1,608,000 after acquiring an additional 600 shares during the period. Arizona State Retirement System boosted its stake in Sweetgreen by 2.1% during the fourth quarter. Arizona State Retirement System now owns 29,535 shares of the company’s stock worth $947,000 after acquiring an additional 613 shares in the last quarter. Xponance Inc. grew its holdings in Sweetgreen by 10.8% in the fourth quarter. Xponance Inc. now owns 7,185 shares of the company’s stock worth $230,000 after purchasing an additional 702 shares during the period. Finally, Headlands Technologies LLC increased its stake in Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after purchasing an additional 741 shares in the last quarter. Institutional investors own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Tuesday, February 25th. TD Securities reduced their price objective on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Morgan Stanley decreased their price objective on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Citigroup cut their target price on Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, The Goldman Sachs Group decreased their price target on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.27.

Sweetgreen Stock Down 7.3 %

Sweetgreen stock opened at $20.88 on Friday. The company has a market capitalization of $2.45 billion, a P/E ratio of -26.76 and a beta of 2.28. The firm has a 50 day moving average price of $25.95 and a 200-day moving average price of $32.57. Sweetgreen, Inc. has a twelve month low of $18.62 and a twelve month high of $45.12.

Insider Buying and Selling at Sweetgreen

In other news, CEO Jonathan Neman sold 5,717 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $136,064.60. Following the completion of the transaction, the chief executive officer now owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total value of $288,774.18. Following the completion of the sale, the chief financial officer now directly owns 344,055 shares of the company’s stock, valued at approximately $9,093,373.65. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,852 shares of company stock valued at $1,052,177. Company insiders own 21.52% of the company’s stock.

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.