21,400 Shares in Sweetgreen, Inc. (NYSE:SG) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in shares of Sweetgreen, Inc. (NYSE:SG) during the 4th quarter, HoldingsChannel reports. The fund acquired 21,400 shares of the company’s stock, valued at approximately $686,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Verition Fund Management LLC boosted its stake in shares of Sweetgreen by 189.6% in the third quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock worth $6,151,000 after acquiring an additional 113,586 shares during the last quarter. Cox Capital Mgt LLC boosted its stake in Sweetgreen by 76.0% during the 4th quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company’s stock worth $1,728,000 after purchasing an additional 23,278 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Sweetgreen by 5.4% during the third quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock worth $79,757,000 after buying an additional 116,243 shares in the last quarter. Diversified Trust Co raised its position in shares of Sweetgreen by 223.2% in the fourth quarter. Diversified Trust Co now owns 27,126 shares of the company’s stock valued at $870,000 after buying an additional 18,733 shares during the last quarter. Finally, Moody National Bank Trust Division purchased a new position in shares of Sweetgreen in the fourth quarter worth about $1,182,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SG has been the subject of a number of recent research reports. Citigroup cut their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, February 27th. UBS Group reduced their price objective on Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada reissued an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Morgan Stanley cut their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group lowered their price target 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. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to 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 related news, CFO Mitch Reback sold 8,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total value of $265,040.00. Following the sale, the chief financial officer now owns 350,981 shares in the company, valued at approximately $11,628,000.53. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Neman sold 5,717 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the transaction, the chief executive officer now owns 1,810,263 shares of the company’s stock, valued at $43,084,259.40. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,852 shares of company stock worth $1,052,177. 21.52% of the stock is currently owned by insiders.

Sweetgreen Price Performance

NYSE SG opened at $25.45 on Wednesday. Sweetgreen, Inc. has a 12 month low of $18.77 and a 12 month high of $45.12. The stock has a market capitalization of $2.99 billion, a P/E ratio of -32.63 and a beta of 2.44. The firm’s 50-day moving average is $26.35 and its two-hundred day moving average is $32.79.

Sweetgreen 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.