Sweetgreen, Inc. (NYSE:SG) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC cut its holdings in Sweetgreen, Inc. (NYSE:SG) by 30.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,390,289 shares of the company’s stock after selling 1,026,024 shares during the period. Driehaus Capital Management LLC owned about 2.07% of Sweetgreen worth $76,633,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its position in Sweetgreen by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company’s stock worth $336,000 after buying an additional 473 shares during the period. Cypress Wealth Services LLC grew its stake in shares of Sweetgreen by 6.1% during the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock valued at $270,000 after buying an additional 483 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after buying an additional 494 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in Sweetgreen by 1.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock valued at $1,608,000 after acquiring an additional 600 shares during the last quarter. Finally, Oberweis Asset Management Inc. grew its position in Sweetgreen by 0.6% during the fourth quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company’s stock valued at $3,084,000 after acquiring an additional 610 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on SG. Piper Sandler dropped their target price on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group dropped their price target on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. UBS Group reduced their target price on Sweetgreen from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Monday. TD Securities reduced their price objective on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Morgan Stanley set a $24.00 target price on shares of Sweetgreen in a research note on Monday, April 14th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.36.

Insider Buying and Selling

In other Sweetgreen news, CFO Mitch Reback sold 10,926 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 344,055 shares of the company’s stock, valued at $9,093,373.65. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Rossann Williams sold 4,977 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $118,452.60. Following the transaction, the chief operating officer now directly owns 95,516 shares in the company, valued at approximately $2,273,280.80. This represents a 4.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,852 shares of company stock worth $871,417. 21.52% of the stock is owned by company insiders.

Sweetgreen Trading Down 0.1 %

Shares of SG stock opened at $17.92 on Thursday. The stock’s fifty day simple moving average is $21.93 and its 200-day simple moving average is $29.78. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -22.97 and a beta of 2.31. Sweetgreen, Inc. has a 1-year low of $16.29 and a 1-year high of $45.12.

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.