Pier Capital LLC Sells 67,102 Shares of Sweetgreen, Inc. (NYSE:SG)

Pier Capital LLC lowered its position in Sweetgreen, Inc. (NYSE:SG) by 22.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 226,231 shares of the company’s stock after selling 67,102 shares during the period. Pier Capital LLC’s holdings in Sweetgreen were worth $7,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Sweetgreen by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock worth $306,009,000 after acquiring an additional 351,240 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Sweetgreen by 7.5% during the third quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock worth $120,784,000 after purchasing an additional 236,874 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after purchasing an additional 272,340 shares during the period. State Street Corp grew its holdings in shares of Sweetgreen by 3.2% in the third quarter. State Street Corp now owns 2,263,025 shares of the company’s stock worth $80,224,000 after purchasing an additional 69,120 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Sweetgreen by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock worth $79,757,000 after buying an additional 116,243 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Insiders Place Their Bets

In other news, Director Nathaniel Ru sold 2,123 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $50,527.40. Following the sale, the director now owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 8,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total transaction of $265,040.00. Following the transaction, the chief financial officer now owns 350,981 shares in the company, valued at approximately $11,628,000.53. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,852 shares of company stock valued at $1,052,177. 21.52% of the stock is currently owned by insiders.

Sweetgreen Stock Up 4.8 %

NYSE SG opened at $26.13 on Tuesday. Sweetgreen, Inc. has a 52 week low of $18.77 and a 52 week high of $45.12. The company has a 50 day moving average price of $27.19 and a 200 day moving average price of $33.02. The firm has a market cap of $3.07 billion, a PE ratio of -33.50 and a beta of 2.44.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SG shares. Piper Sandler lowered their price objective on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. UBS Group lowered their price target on Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Royal Bank of Canada restated an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a report on Tuesday, February 25th. TD Securities lowered their target price on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, The Goldman Sachs Group cut their price target on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and a consensus target price of $36.27.

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.