Sweetgreen, Inc. (NYSE:SG) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 54.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,318 shares of the company’s stock after purchasing an additional 5,783 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Sweetgreen were worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its position in Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after buying an additional 1,000 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of 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. Millstone Evans Group LLC purchased a new position in shares of Sweetgreen during the fourth quarter worth $53,000. Denver PWM LLC acquired a new position in Sweetgreen during the fourth quarter valued at $60,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Sweetgreen in the fourth quarter valued at $62,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Sweetgreen news, CEO Jonathan Neman sold 5,717 shares of Sweetgreen stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $136,064.60. Following the sale, the chief executive officer now owns 1,810,263 shares of the company’s stock, valued at $43,084,259.40. The trade was a 0.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mitch Reback sold 10,926 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the sale, the chief financial officer now directly owns 344,055 shares of the company’s stock, valued at $9,093,373.65. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,852 shares of company stock worth $871,417 over the last 90 days. 21.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on SG. The Goldman Sachs Group reduced their price objective on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Oppenheimer reduced their price target on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Citigroup lowered their price objective on Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley set a $24.00 target price on shares of Sweetgreen in a report on Monday, April 14th. Finally, Piper Sandler lowered their price target 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. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.91.

Sweetgreen Stock Performance

Shares of NYSE SG opened at $20.90 on Monday. The firm has a fifty day moving average of $22.21 and a 200 day moving average of $30.05. The firm has a market cap of $2.45 billion, a PE ratio of -26.79 and a beta of 2.28. Sweetgreen, Inc. has a one year low of $16.29 and a one year high of $45.12.

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.