Xponance Inc. Boosts Position in Sweetgreen, Inc. (NYSE:SG)

Xponance Inc. raised its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 10.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,185 shares of the company’s stock after purchasing an additional 702 shares during the period. Xponance Inc.’s holdings in Sweetgreen were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SG. Cypress Wealth Services LLC grew its position in shares of 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 purchasing an additional 483 shares during the last quarter. Arizona State Retirement System lifted its stake in Sweetgreen by 2.1% in the 4th quarter. Arizona State Retirement System now owns 29,535 shares of the company’s stock valued at $947,000 after buying an additional 613 shares in the last quarter. Pier Capital LLC grew its holdings in Sweetgreen by 0.3% during the 3rd quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after buying an additional 761 shares during the last quarter. Fishman Jay A Ltd. MI increased its position in 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 buying an additional 900 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analyst Weigh In

SG has been the subject of a number of recent research reports. Citigroup dropped their price objective on Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Oppenheimer cut their price objective on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group decreased their target price on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. KeyCorp started coverage on Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating for the company. Finally, Piper Sandler decreased their price objective on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Sweetgreen currently has an average rating of “Moderate Buy” and a consensus price target of $36.27.

Insider Transactions at Sweetgreen

In other Sweetgreen news, COO Rossann Williams sold 4,977 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $118,452.60. Following the transaction, the chief operating officer now owns 95,516 shares in the company, valued at $2,273,280.80. The trade was a 4.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mitch Reback sold 8,000 shares of the company’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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,852 shares of company stock worth $1,052,177. 21.52% of the stock is currently owned by company insiders.

Sweetgreen Trading Down 3.6 %

SG stock opened at $25.58 on Friday. The company has a market cap of $3.00 billion, a PE ratio of -32.79 and a beta of 2.44. The stock has a 50-day moving average price of $26.62 and a two-hundred day moving average price of $32.89. Sweetgreen, Inc. has a 12-month low of $18.77 and a 12-month high of $45.12.

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.