Legacy Capital Group California Inc. Lowers Holdings in Sweetgreen, Inc. (NYSE:SG)

Legacy Capital Group California Inc. trimmed its holdings in Sweetgreen, Inc. (NYSE:SG) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (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 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of Sweetgreen during the 3rd quarter valued at about $35,000. Wilmington Savings Fund Society FSB bought a new position in shares of Sweetgreen during the 4th quarter valued at about $62,000. KBC Group NV boosted its holdings in shares of Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares during the last quarter. Sachetta LLC boosted its holdings in shares of Sweetgreen by 37.6% during the 4th quarter. Sachetta LLC now owns 4,324 shares of the company’s stock valued at $139,000 after purchasing an additional 1,182 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Sweetgreen by 68.4% during the 3rd quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock valued at $151,000 after purchasing an additional 1,728 shares during the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Citigroup dropped their price objective on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. TD Cowen reaffirmed a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. Oppenheimer lowered their price target on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Sweetgreen currently has an average rating of “Moderate Buy” and a consensus target price of $40.60.

Insider Buying and Selling

In related news, insider Nicolas Jammet sold 170,199 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $37.73, for a total value of $6,421,608.27. Following the sale, the insider now directly owns 1,760,034 shares of the company’s stock, valued at $66,406,082.82. This represents a 8.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nathaniel Ru sold 53,718 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $38.70, for a total transaction of $2,078,886.60. Following the completion of the sale, the insider now directly owns 1,952,129 shares in the company, valued at $75,547,392.30. This trade represents a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 550,577 shares of company stock valued at $21,183,936 in the last ninety days. 21.52% of the stock is owned by company insiders.

Sweetgreen Price Performance

Sweetgreen stock opened at $23.61 on Friday. Sweetgreen, Inc. has a 1-year low of $10.93 and a 1-year high of $45.12. The company’s 50-day moving average is $31.44 and its 200 day moving average is $34.33.

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.