Hillsdale Investment Management Inc. Acquires 600 Shares of Sweetgreen, Inc. (NYSE:SG)

Hillsdale Investment Management Inc. lifted its holdings in Sweetgreen, Inc. (NYSE:SG) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 50,164 shares of the company’s stock after buying an additional 600 shares during the period. Hillsdale Investment Management Inc.’s holdings in Sweetgreen were worth $1,608,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SG. Millstone Evans Group LLC bought a new position in shares of Sweetgreen during the 4th quarter valued at approximately $53,000. Magnetar Financial LLC bought a new stake in Sweetgreen in the fourth quarter worth $458,000. Xponance Inc. boosted its stake in Sweetgreen by 10.8% during the fourth quarter. Xponance Inc. now owns 7,185 shares of the company’s stock worth $230,000 after buying an additional 702 shares during the period. Cibc World Markets Corp bought a new position in Sweetgreen during the fourth quarter valued at $301,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Sweetgreen by 91.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,105 shares of the company’s stock worth $388,000 after acquiring an additional 5,783 shares during the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Sweetgreen Trading Up 2.2 %

Shares of Sweetgreen stock opened at $24.97 on Friday. Sweetgreen, Inc. has a 12 month low of $18.77 and a 12 month high of $45.12. The stock’s fifty day moving average price is $27.30 and its 200-day moving average price is $33.02. The firm has a market cap of $2.93 billion, a P/E ratio of -32.01 and a beta of 2.44.

Insider Buying and Selling at Sweetgreen

In related news, COO Rossann Williams sold 4,977 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 $118,452.60. Following the completion of the sale, the chief operating officer now directly owns 95,516 shares in the company, valued at $2,273,280.80. This represents a 4.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mitch Reback sold 8,000 shares of Sweetgreen stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total value of $265,040.00. Following the completion of the transaction, the chief financial officer now owns 350,981 shares in the company, valued at $11,628,000.53. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,852 shares of company stock valued at $1,052,177. Company insiders own 21.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup cut their price target on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. UBS Group reduced their price target on Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Morgan Stanley dropped their price objective on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Oppenheimer reduced their target price on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group decreased their target price on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.27.

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.