Corebridge Financial Inc. Sells 3,014 Shares of Sweetgreen, Inc. (NYSE:SG)

Corebridge Financial Inc. trimmed its position in Sweetgreen, Inc. (NYSE:SG) by 5.7% during the fourth quarter, Holdings Channel reports. The firm owned 49,800 shares of the company’s stock after selling 3,014 shares during the quarter. Corebridge Financial Inc.’s holdings in Sweetgreen were worth $1,597,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in Sweetgreen by 8.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 830,249 shares of the company’s stock valued at $29,432,000 after buying an additional 64,205 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sweetgreen by 8.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,841 shares of the company’s stock valued at $881,000 after acquiring an additional 1,950 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Sweetgreen in the 3rd quarter valued at $193,000. Centiva Capital LP acquired a new stake in Sweetgreen during the 3rd quarter valued at $936,000. Finally, Mission Creek Capital Partners Inc. bought a new position in Sweetgreen during the third quarter worth $1,744,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SG shares. Royal Bank of Canada reissued an “outperform” rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Tuesday, February 25th. UBS Group reduced their price objective on Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Oppenheimer decreased their target price on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group dropped their price target on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. 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 research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Sweetgreen presently has a consensus rating of “Moderate Buy” and an average target price of $36.27.

Sweetgreen Stock Performance

SG opened at $25.67 on Thursday. Sweetgreen, Inc. has a 52-week low of $18.77 and a 52-week high of $45.12. The firm has a market cap of $3.01 billion, a P/E ratio of -32.91 and a beta of 2.44. The business’s fifty day moving average is $26.28 and its 200-day moving average is $32.74.

Insider Buying and Selling

In other Sweetgreen news, CFO Mitch Reback sold 10,926 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the sale, the chief financial officer now directly owns 344,055 shares in the company, valued at $9,093,373.65. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Neman sold 5,717 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the completion of the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold 39,852 shares of company stock valued at $1,052,177 over the last quarter. 21.52% of the stock is owned by company insiders.

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.