Bridgewater Associates LP Lowers Stock Position in Sweetgreen, Inc. (NYSE:SG)

Bridgewater Associates LP trimmed its holdings in Sweetgreen, Inc. (NYSE:SG) by 75.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,690 shares of the company’s stock after selling 56,743 shares during the quarter. Bridgewater Associates LP’s holdings in Sweetgreen were worth $599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SG. Cox Capital Mgt LLC raised its stake in shares of Sweetgreen by 76.0% during the fourth 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 raised its position in Sweetgreen by 5.4% during the 3rd 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 during the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Sweetgreen in the 4th quarter worth $1,182,000. Diversified Trust Co boosted its holdings 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 acquiring an additional 18,733 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Sweetgreen by 1,399.0% during the third quarter. Franklin Resources Inc. now owns 111,074 shares of the company’s stock worth $4,365,000 after purchasing an additional 103,664 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Down 6.3 %

NYSE SG opened at $18.54 on Friday. Sweetgreen, Inc. has a fifty-two week low of $18.46 and a fifty-two week high of $45.12. The business has a fifty day moving average of $23.35 and a 200-day moving average of $31.33. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -23.77 and a beta of 2.28.

Wall Street Analyst Weigh In

Several research firms have issued reports on SG. Morgan Stanley set a $24.00 target price on Sweetgreen in a research report on Monday, April 14th. Piper Sandler cut their price objective on Sweetgreen from $39.00 to $27.00 and set a “neutral” 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. TD Securities reduced their price objective on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Citigroup lowered their target price on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Sweetgreen presently has a consensus rating of “Moderate Buy” and an average target price of $35.91.

Insider Buying and Selling

In other Sweetgreen news, COO Rossann Williams sold 4,977 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $118,452.60. Following the sale, the chief operating officer now directly owns 95,516 shares of the company’s stock, valued at approximately $2,273,280.80. This trade represents a 4.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 10,926 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the transaction, the chief financial officer now owns 344,055 shares in the company, valued at approximately $9,093,373.65. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,852 shares of company stock worth $871,417. 21.52% of the stock is owned by corporate insiders.

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.