Sequoia Financial Advisors LLC Purchases Shares of 8,806 Sweetgreen, Inc. (NYSE:SG)

Sequoia Financial Advisors LLC purchased a new stake in shares of Sweetgreen, Inc. (NYSE:SG) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,806 shares of the company’s stock, valued at approximately $282,000.

A number of other hedge funds have also bought and sold shares of SG. Oppenheimer & Co. Inc. increased its stake in Sweetgreen by 9.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,483 shares of the company’s stock valued at $939,000 after purchasing an additional 2,380 shares in the last quarter. KBC Group NV boosted its holdings in shares of Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after acquiring an additional 704 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Sweetgreen by 91.9% in the 3rd quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock valued at $1,077,000 after acquiring an additional 14,545 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Sweetgreen by 68.4% in the 3rd quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock valued at $151,000 after acquiring an additional 1,728 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Sweetgreen in the 3rd quarter valued at $6,191,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 5,717 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $136,064.60. Following the completion of the transaction, the chief executive officer now owns 1,810,263 shares of the company’s stock, valued at $43,084,259.40. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mitch Reback sold 8,109 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.84, for a total value of $193,318.56. Following the transaction, the chief financial officer now directly owns 350,023 shares of the company’s stock, valued at $8,344,548.32. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,852 shares of company stock valued at $1,052,177 over the last 90 days. Corporate insiders own 21.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. TD Securities dropped their price objective on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group dropped their price objective on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Piper Sandler dropped their price objective on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Citigroup dropped their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, UBS Group dropped their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.27.

Sweetgreen Stock Performance

Shares of NYSE SG opened at $23.92 on Thursday. The company’s fifty day moving average price is $27.61 and its 200 day moving average price is $33.10. Sweetgreen, Inc. has a 1 year low of $18.77 and a 1 year high of $45.12. The company has a market capitalization of $2.81 billion, a PE ratio of -30.66 and a beta of 2.44.

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.