Rockefeller Capital Management L.P. Increases Stock Position in Sweetgreen, Inc. (NYSE:SG)

Rockefeller Capital Management L.P. raised its position in Sweetgreen, Inc. (NYSE:SG) by 9.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 26,073 shares of the company’s stock after purchasing an additional 2,265 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Sweetgreen were worth $836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cypress Wealth Services LLC increased its holdings in 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 purchasing an additional 483 shares during the period. Hillsdale Investment Management Inc. grew its position in shares of Sweetgreen by 1.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock worth $1,608,000 after buying an additional 600 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Sweetgreen by 2.1% during the fourth quarter. Arizona State Retirement System now owns 29,535 shares of the company’s stock valued at $947,000 after buying an additional 613 shares during the period. Xponance Inc. raised its holdings in shares of Sweetgreen by 10.8% during the fourth quarter. Xponance Inc. now owns 7,185 shares of the company’s stock valued at $230,000 after acquiring an additional 702 shares in the last quarter. Finally, Headlands Technologies LLC lifted its stake in Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after acquiring an additional 741 shares during the period. 95.75% of the stock is owned by institutional investors.

Insider Buying and Selling at Sweetgreen

In other news, Director Nathaniel Ru sold 2,123 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total value of $288,774.18. Following the completion of the sale, the chief financial officer now owns 344,055 shares of the company’s stock, valued at $9,093,373.65. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,852 shares of company stock worth $871,417. 21.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SG has been the topic of a number of research analyst reports. UBS Group reduced their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Oppenheimer lowered their price objective on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Morgan Stanley set a $24.00 target price on Sweetgreen in a report on Monday, April 14th. Piper Sandler dropped their price target on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 price objective on shares of Sweetgreen in a report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.91.

Sweetgreen Price Performance

SG opened at $17.16 on Wednesday. The firm has a market cap of $2.01 billion, a PE ratio of -22.00 and a beta of 2.28. The stock has a 50-day moving average price of $22.96 and a 200-day moving average price of $31.10. 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.