ArrowMark Colorado Holdings LLC Cuts Stock Position in Sweetgreen, Inc. (NYSE:SG)

ArrowMark Colorado Holdings LLC decreased its position in shares of Sweetgreen, Inc. (NYSE:SG) by 17.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 651,162 shares of the company’s stock after selling 138,027 shares during the period. ArrowMark Colorado Holdings LLC owned 0.57% of Sweetgreen worth $23,084,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SG. Driehaus Capital Management LLC lifted its stake in shares of Sweetgreen by 231.8% during the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after buying an additional 1,878,216 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Sweetgreen during the 2nd quarter valued at about $33,449,000. Renaissance Technologies LLC acquired a new position in shares of Sweetgreen in the second quarter valued at about $29,109,000. Baillie Gifford & Co. raised its stake in shares of Sweetgreen by 6.2% in the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after purchasing an additional 721,740 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its holdings in shares of Sweetgreen by 139.9% during the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after purchasing an additional 547,816 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Stock Down 3.4 %

Shares of SG opened at $40.98 on Monday. The firm’s fifty day moving average is $37.69 and its two-hundred day moving average is $32.93. Sweetgreen, Inc. has a 52-week low of $9.31 and a 52-week high of $45.12. The stock has a market cap of $4.74 billion, a PE ratio of -52.54 and a beta of 2.32.

Insider Activity

In other Sweetgreen news, insider Nicolas Jammet sold 21,275 shares of Sweetgreen stock in a transaction on Friday, September 13th. The stock was sold at an average price of $35.10, for a total value of $746,752.50. Following the sale, the insider now owns 1,930,233 shares in the company, valued at $67,751,178.30. The trade was a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Wouleta Ayele sold 4,347 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $148,015.35. Following the completion of the sale, the chief technology officer now owns 140,302 shares in the company, valued at approximately $4,777,283.10. This trade represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,892 shares of company stock worth $7,499,763 over the last ninety days. Corporate insiders own 21.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SG. The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Morgan Stanley boosted their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Citigroup increased their price target on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Oppenheimer upped their target price on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, UBS Group lifted their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sweetgreen has an average rating of “Moderate Buy” and an average price target of $39.80.

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.