Sweetgreen, Inc. (NYSE:SG) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP trimmed its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 75.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,690 shares of the company’s stock after selling 56,743 shares during the period. Bridgewater Associates LP’s holdings in Sweetgreen were worth $599,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cox Capital Mgt LLC lifted its holdings in shares of Sweetgreen by 76.0% during the 4th quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company’s stock valued at $1,728,000 after acquiring an additional 23,278 shares in the last quarter. Geode Capital Management LLC raised its position in Sweetgreen by 5.4% in 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 period. Moody National Bank Trust Division acquired a new position in shares of Sweetgreen during the fourth quarter worth about $1,182,000. Diversified Trust Co boosted its position in shares of Sweetgreen by 223.2% in 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 during the period. Finally, Franklin Resources Inc. grew its stake in shares of Sweetgreen by 1,399.0% in the third quarter. Franklin Resources Inc. now owns 111,074 shares of the company’s stock valued at $4,365,000 after buying an additional 103,664 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on SG shares. Oppenheimer reduced their price target on Sweetgreen from $41.00 to $35.00 and set an “outperform” 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 research note on Monday, April 14th. TD Securities cut 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. UBS Group lowered their target price on Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 price target on shares of Sweetgreen in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.91.

Sweetgreen Stock Performance

Shares of NYSE:SG opened at $18.54 on Friday. The company’s fifty day moving average is $23.35 and its two-hundred day moving average is $31.33. Sweetgreen, Inc. has a 1-year low of $18.46 and a 1-year high of $45.12. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -23.77 and a beta of 2.28.

Insider Activity at Sweetgreen

In related news, 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 directly owns 344,055 shares in the company, valued at $9,093,373.65. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nathaniel Ru sold 2,123 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were 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. The trade was a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,852 shares of company stock valued at $871,417 in the last quarter. Insiders own 21.52% of the company’s stock.

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.