Cibc World Markets Corp Makes New $301,000 Investment in Sweetgreen, Inc. (NYSE:SG)

Cibc World Markets Corp purchased a new stake in shares of Sweetgreen, Inc. (NYSE:SG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,374 shares of the company’s stock, valued at approximately $301,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SG. Verition Fund Management LLC grew its holdings in Sweetgreen by 189.6% during the third quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock worth $6,151,000 after acquiring an additional 113,586 shares during the period. Cox Capital Mgt LLC grew its stake in shares of Sweetgreen by 76.0% in the 4th quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company’s stock worth $1,728,000 after purchasing an additional 23,278 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Sweetgreen by 91.9% in the 3rd quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock worth $1,077,000 after purchasing an additional 14,545 shares during the last quarter. Geode Capital Management LLC lifted its stake in Sweetgreen by 5.4% during the third quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock valued at $79,757,000 after purchasing an additional 116,243 shares during the last quarter. Finally, Diversified Trust Co boosted its holdings in Sweetgreen by 223.2% during the fourth quarter. Diversified Trust Co now owns 27,126 shares of the company’s stock worth $870,000 after buying an additional 18,733 shares in the last quarter. Institutional investors own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

SG has been the subject of a number of recent research reports. Citigroup cut their price objective on Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Oppenheimer reduced their target price on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. UBS Group cut their price objective on Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group decreased their target price on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley cut their price target 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. Four equities 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.27.

Sweetgreen Stock Up 4.8 %

SG stock opened at $26.13 on Tuesday. The company has a 50 day moving average of $27.19 and a two-hundred day moving average of $33.02. The company has a market cap of $3.07 billion, a price-to-earnings ratio of -33.50 and a beta of 2.44. Sweetgreen, Inc. has a 12-month low of $18.77 and a 12-month high of $45.12.

Insider Transactions at Sweetgreen

In other Sweetgreen news, Director Nathaniel Ru sold 2,123 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $50,527.40. Following the transaction, the director now directly owns 1,785,099 shares of the company’s stock, valued at $42,485,356.20. This represents a 0.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total value of $288,774.18. Following the sale, the chief financial officer now owns 344,055 shares of the company’s stock, valued at approximately $9,093,373.65. This represents a 3.08 % 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 owned by insiders.

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.