Sweetgreen, Inc. (NYSE:SG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 13.9% during the 4th quarter, Holdings Channel reports. The fund owned 1,083,339 shares of the company’s stock after selling 175,145 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Sweetgreen were worth $34,764,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in Sweetgreen during the third quarter worth about $35,000. Wilmington Savings Fund Society FSB acquired a new stake in Sweetgreen during the fourth quarter worth about $62,000. KBC Group NV grew its holdings in Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after acquiring an additional 704 shares during the period. Sachetta LLC grew its holdings in Sweetgreen by 37.6% during the fourth quarter. Sachetta LLC now owns 4,324 shares of the company’s stock worth $139,000 after acquiring an additional 1,182 shares during the period. Finally, Quest Partners LLC grew its holdings in Sweetgreen by 68.4% during the third quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock worth $151,000 after acquiring an additional 1,728 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jonathan Neman sold 14,745 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $663,525.00. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $86,860,260. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Wouleta Ayele sold 4,347 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $148,015.35. Following the completion of the sale, the chief technology officer now directly owns 140,302 shares of the company’s stock, valued at approximately $4,777,283.10. This represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 601,607 shares of company stock worth $23,177,393 over the last quarter. 21.52% of the stock is currently owned by corporate insiders.

Sweetgreen Price Performance

NYSE SG opened at $27.17 on Friday. The company has a market cap of $3.14 billion, a PE ratio of -34.84 and a beta of 2.37. The stock’s 50 day simple moving average is $32.49 and its 200-day simple moving average is $34.41. Sweetgreen, Inc. has a 1-year low of $10.93 and a 1-year high of $45.12.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. UBS Group increased their price target on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Citigroup lowered their price target on Sweetgreen from $49.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. Morgan Stanley lowered their price target on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Finally, TD Cowen reiterated a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sweetgreen has an average rating of “Moderate Buy” and a consensus price target of $40.60.

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.