Portolan Capital Management LLC Sells 248,568 Shares of Sweetgreen, Inc. (NYSE:SG)

Portolan Capital Management LLC trimmed its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 44.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 307,001 shares of the company’s stock after selling 248,568 shares during the quarter. Portolan Capital Management LLC owned 0.27% of Sweetgreen worth $9,842,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its holdings in Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after purchasing an additional 1,000 shares during the period. Headlands Technologies LLC raised its position 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 buying an additional 741 shares in the last quarter. Millstone Evans Group LLC bought a new stake in Sweetgreen during the fourth quarter valued at $53,000. Denver PWM LLC purchased a new position in Sweetgreen during the fourth quarter worth about $60,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Sweetgreen in the 4th quarter worth about $62,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

SG has been the subject of a number of research analyst reports. The Goldman Sachs Group dropped their price target on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Morgan Stanley dropped their target price on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. TD Securities decreased their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a report on Tuesday, February 25th. Finally, Citigroup cut their target price on shares of Sweetgreen from $43.00 to $39.00 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. According to data from MarketBeat, Sweetgreen currently has an average rating of “Moderate Buy” and a consensus target price of $36.27.

Insider Buying and Selling 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 value of $136,064.60. Following the completion of the sale, the chief executive officer now owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nathaniel Ru sold 2,123 shares of Sweetgreen stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the sale, the director now owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,852 shares of company stock worth $1,052,177. 21.52% of the stock is currently owned by insiders.

Sweetgreen Trading Down 4.1 %

NYSE SG opened at $21.03 on Monday. The stock has a 50-day moving average of $24.34 and a 200-day moving average of $31.85. Sweetgreen, Inc. has a 1-year low of $18.62 and a 1-year high of $45.12. The firm has a market cap of $2.47 billion, a PE ratio of -26.96 and a beta of 2.28.

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.