Quantbot Technologies LP Sells 1,424 Shares of Sweetgreen, Inc. (NYSE:SG)

Quantbot Technologies LP decreased its position in shares of Sweetgreen, Inc. (NYSE:SG) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 50,751 shares of the company’s stock after selling 1,424 shares during the quarter. Quantbot Technologies LP’s holdings in Sweetgreen were worth $1,627,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SG. Wellington Management Group LLP boosted its position in Sweetgreen by 7.5% during the third quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock worth $120,784,000 after purchasing an additional 236,874 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of Sweetgreen by 13.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after buying an additional 272,340 shares in the last quarter. State Street Corp boosted its holdings in Sweetgreen by 3.2% in the 3rd quarter. State Street Corp now owns 2,263,025 shares of the company’s stock worth $80,224,000 after buying an additional 69,120 shares during the period. Geode Capital Management LLC grew its stake in Sweetgreen by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock valued at $79,757,000 after buying an additional 116,243 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Sweetgreen by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 849,512 shares of the company’s stock valued at $27,235,000 after acquiring an additional 19,263 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Price Performance

NYSE:SG opened at $26.13 on Tuesday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -33.50 and a beta of 2.44. The business has a 50 day moving average of $27.19 and a 200 day moving average of $33.02. Sweetgreen, Inc. has a 1-year low of $18.77 and a 1-year high of $45.12.

Insiders Place Their Bets

In other Sweetgreen news, Director Nathaniel Ru sold 2,123 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the sale, the director now directly owns 1,785,099 shares of the company’s stock, valued at $42,485,356.20. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mitch Reback sold 8,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total transaction of $265,040.00. Following the sale, the chief financial officer now owns 350,981 shares of the company’s stock, valued at approximately $11,628,000.53. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,852 shares of company stock valued at $1,052,177. 21.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on SG. KeyCorp started coverage on Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating for the company. TD Securities cut their price objective on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Morgan Stanley decreased their target price on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Tuesday, February 25th. Finally, Piper Sandler reduced their price target on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Sweetgreen has a consensus rating of “Moderate Buy” and an average price target of $36.27.

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.