Hussman Strategic Advisors Inc. Sells 42,000 Shares of Sweetgreen, Inc. (NYSE:SG)

Hussman Strategic Advisors Inc. cut its stake in Sweetgreen, Inc. (NYSE:SG) by 40.0% in the fourth quarter, HoldingsChannel reports. The fund owned 63,000 shares of the company’s stock after selling 42,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Sweetgreen were worth $2,020,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Handelsbanken Fonder AB raised its stake in shares of Sweetgreen by 41.2% in the fourth quarter. Handelsbanken Fonder AB now owns 24,000 shares of the company’s stock worth $769,000 after acquiring an additional 7,000 shares during the last quarter. Csenge Advisory Group bought a new position in shares of Sweetgreen in the fourth quarter worth about $426,000. Rhumbline Advisers raised its stake in shares of Sweetgreen by 2.6% in the fourth quarter. Rhumbline Advisers now owns 138,002 shares of the company’s stock worth $4,424,000 after acquiring an additional 3,562 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Sweetgreen in the fourth quarter worth about $214,000. Finally, Fishman Jay A Ltd. MI raised its stake in shares of Sweetgreen by 7.7% during the fourth quarter. Fishman Jay A Ltd. MI now owns 12,525 shares of the company’s stock worth $402,000 after buying an additional 900 shares during the last quarter. 95.75% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Julie Bornstein sold 4,464 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $42.11, for a total value of $187,979.04. Following the completion of the transaction, the director now owns 32,637 shares in the company, valued at $1,374,344.07. This represents a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mitch Reback sold 10,926 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the transaction, the chief financial officer now owns 344,055 shares of the company’s stock, valued at $9,093,373.65. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 550,577 shares of company stock worth $21,183,936 over the last quarter. 21.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Oppenheimer dropped their price target 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. Morgan Stanley dropped their price target 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. UBS Group boosted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. KeyCorp assumed coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating for the company. Finally, TD Cowen reissued a “buy” rating and set a $45.00 price target 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 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 $40.60.

Sweetgreen Stock Down 5.5 %

Shares of NYSE:SG opened at $23.27 on Thursday. Sweetgreen, Inc. has a 52 week low of $10.93 and a 52 week high of $45.12. The company has a 50 day moving average price of $31.73 and a two-hundred day moving average price of $34.41.

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.