Proficio Capital Partners LLC Invests $630,000 in Sweetgreen, Inc. (NYSE:SG)

Proficio Capital Partners LLC purchased a new position in Sweetgreen, Inc. (NYSE:SG) during the fourth quarter, Holdings Channel reports. The firm purchased 19,653 shares of the company’s stock, valued at approximately $630,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Deepwater Asset Management LLC bought a new position in Sweetgreen in the 4th quarter valued at about $13,695,000. Lord Abbett & CO. LLC boosted its position 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 worth $82,032,000 after acquiring an additional 272,340 shares in the last quarter. Tidal Investments LLC increased its stake in Sweetgreen by 848.2% in the third quarter. Tidal Investments LLC now owns 270,141 shares of the company’s stock valued at $9,576,000 after acquiring an additional 241,652 shares during the last quarter. Wellington Management Group LLP raised 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 valued at $120,784,000 after purchasing an additional 236,874 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Sweetgreen by 37.2% during the third quarter. JPMorgan Chase & Co. now owns 671,045 shares of the company’s stock valued at $23,789,000 after purchasing an additional 181,805 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SG shares. UBS Group decreased their price target on Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Oppenheimer decreased their target price on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a report on Tuesday, February 25th. Citigroup reduced their price target on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, TD Securities lowered 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. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.27.

Sweetgreen Trading Up 1.8 %

Shares of SG opened at $23.95 on Monday. The stock’s 50-day moving average price is $28.95 and its two-hundred day moving average price is $33.64. Sweetgreen, Inc. has a 12 month low of $18.62 and a 12 month high of $45.12. The company has a market capitalization of $2.77 billion, a PE ratio of -30.71 and a beta of 2.44.

Insider Transactions at Sweetgreen

In related news, CFO Mitch Reback sold 8,000 shares of Sweetgreen stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total transaction of $265,040.00. Following the completion of the transaction, the chief financial officer now owns 350,981 shares of the company’s stock, valued at $11,628,000.53. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicolas Jammet sold 170,199 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the completion of the transaction, the insider now owns 1,760,034 shares in the company, valued at approximately $66,406,082.82. The trade was a 8.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,125 shares of company stock worth $6,975,422 over the last ninety days. 21.52% of the stock is owned by insiders.

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.