Summit Place Financial Advisors LLC Lowers Stock Position in Sweetgreen, Inc. (NYSE:SG)

Summit Place Financial Advisors LLC lessened its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,329 shares of the company’s stock after selling 2,245 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Sweetgreen were worth $1,549,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SG. Creative Planning lifted its stake in Sweetgreen by 61.7% in the third quarter. Creative Planning now owns 11,439 shares of the company’s stock worth $406,000 after acquiring an additional 4,364 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Sweetgreen by 13.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,258,484 shares of the company’s stock worth $44,613,000 after purchasing an additional 148,684 shares in the last quarter. Precision Wealth Strategies LLC acquired a new stake in Sweetgreen during the third quarter worth approximately $227,000. Brighton Jones LLC acquired a new position in shares of Sweetgreen in the 3rd quarter valued at $292,000. Finally, PSI Advisors LLC acquired a new position in shares of Sweetgreen in the 3rd quarter valued at $238,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Price Performance

SG opened at $24.67 on Wednesday. Sweetgreen, Inc. has a 1 year low of $10.93 and a 1 year high of $45.12. The firm has a 50 day moving average price of $32.04 and a 200 day moving average price of $34.49.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Oppenheimer cut their target price on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Citigroup decreased their price objective on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. UBS Group boosted their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Morgan Stanley cut 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. Finally, TD Cowen reissued a “buy” rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

Insiders Place Their Bets

In other news, insider Nicolas Jammet sold 14,551 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $45.00, for a total transaction of $654,795.00. Following the completion of the transaction, the insider now directly owns 1,930,233 shares in the company, valued at approximately $86,860,485. This represents a 0.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mitch Reback sold 8,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total value of $265,040.00. Following the transaction, the chief financial officer now owns 350,981 shares of the company’s stock, valued at approximately $11,628,000.53. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 539,651 shares of company stock worth $20,895,162 in the last 90 days. 21.52% of the stock is owned by company insiders.

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.