Sweetgreen, Inc. (NYSE:SG) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System boosted its position in Sweetgreen, Inc. (NYSE:SG) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,535 shares of the company’s stock after acquiring an additional 613 shares during the quarter. Arizona State Retirement System’s holdings in Sweetgreen were worth $947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cypress Wealth Services LLC boosted its holdings in Sweetgreen by 6.1% in the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock valued at $270,000 after acquiring an additional 483 shares during the last quarter. KBC Group NV lifted its stake in shares of Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares in the last quarter. Pier Capital LLC lifted its stake in shares of Sweetgreen by 0.3% during the third quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock worth $10,399,000 after purchasing an additional 761 shares in the last quarter. Fishman Jay A Ltd. MI lifted its stake in shares of Sweetgreen by 7.7% during the fourth quarter. Fishman Jay A Ltd. MI now owns 12,525 shares of the company’s stock worth $402,000 after purchasing an additional 900 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Sweetgreen by 3,571.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Performance

Shares of NYSE SG opened at $23.65 on Friday. Sweetgreen, Inc. has a 1 year low of $18.77 and a 1 year high of $45.12. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -30.32 and a beta of 2.44. The stock’s 50-day simple moving average is $28.34 and its 200-day simple moving average is $33.35.

Wall Street Analyst Weigh In

A number of brokerages have commented on SG. Oppenheimer reduced their price objective on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. TD Securities reduced their price objective on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. KeyCorp began coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.27.

Insider Activity at Sweetgreen

In related news, CFO Mitch Reback sold 8,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total value of $265,040.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 21.52% of the stock is owned by corporate insiders.

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.