Legacy Capital Group California Inc. Trims Stock Position in Sweetgreen, Inc. (NYSE:SG)

Legacy Capital Group California Inc. cut its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,865 shares of the company’s stock after selling 465 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Sweetgreen were worth $1,022,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP increased its holdings in Sweetgreen by 7.5% during the third quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock valued at $120,784,000 after buying an additional 236,874 shares during the period. Lord Abbett & CO. LLC increased its holdings in Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after buying an additional 272,340 shares during the period. State Street Corp increased its holdings in Sweetgreen by 3.2% during the third quarter. State Street Corp now owns 2,263,025 shares of the company’s stock valued at $80,224,000 after buying an additional 69,120 shares during the period. Geode Capital Management LLC increased its holdings in Sweetgreen by 5.4% during the third quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock valued at $79,757,000 after buying an additional 116,243 shares during the period. Finally, Stephens Investment Management Group LLC increased its holdings in Sweetgreen by 139.9% during the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after buying an additional 547,816 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SG shares. UBS Group lifted their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. TD Cowen reissued a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a report on Monday, November 18th. Morgan Stanley lowered their target price on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Oppenheimer lowered their target price on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Citigroup lowered their target price on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

Insider Transactions at Sweetgreen

In other news, insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction on Friday, December 13th. The shares were sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the completion of the sale, the insider now directly owns 1,760,034 shares in the company, valued at approximately $66,406,082.82. The trade was a 8.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Julie Bornstein sold 4,464 shares of Sweetgreen stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $42.11, for a total transaction of $187,979.04. Following the sale, the director now owns 32,637 shares of the company’s stock, valued at $1,374,344.07. The trade was a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 550,577 shares of company stock worth $21,183,936. Company insiders own 21.52% of the company’s stock.

Sweetgreen Trading Up 1.5 %

NYSE:SG opened at $23.61 on Friday. Sweetgreen, Inc. has a 12 month low of $10.93 and a 12 month high of $45.12. The firm has a fifty day simple moving average of $31.44 and a 200-day simple moving average of $34.33.

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.