EFG Asset Management North America Corp. Has $2.35 Million Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

EFG Asset Management North America Corp. raised its position in Sweetgreen, Inc. (NYSE:SG) by 59.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,405 shares of the company’s stock after acquiring an additional 27,400 shares during the period. EFG Asset Management North America Corp. owned about 0.06% of Sweetgreen worth $2,352,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC lifted its holdings in shares of Sweetgreen by 189.6% during the 3rd quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock worth $6,151,000 after acquiring an additional 113,586 shares during the period. Cox Capital Mgt LLC lifted its stake in Sweetgreen by 76.0% during the fourth quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company’s stock worth $1,728,000 after purchasing an additional 23,278 shares during the period. Natixis Advisors LLC boosted its holdings in Sweetgreen by 91.9% during the third quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock valued at $1,077,000 after purchasing an additional 14,545 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sweetgreen by 5.4% during 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 in the last quarter. Finally, Diversified Trust Co grew its stake in shares of Sweetgreen by 223.2% in the 4th quarter. Diversified Trust Co now owns 27,126 shares of the company’s stock valued at $870,000 after purchasing an additional 18,733 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

Insider Activity

In other Sweetgreen news, 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 directly owns 350,981 shares in the company, valued at approximately $11,628,000.53. This represents a 2.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Rossann Williams sold 4,977 shares of the firm’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 $118,452.60. Following the completion of the transaction, the chief operating officer now directly owns 95,516 shares in the company, valued at $2,273,280.80. This trade represents a 4.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,852 shares of company stock valued at $1,052,177 over the last three months. 21.52% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SG shares. The Goldman Sachs Group cut 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. Piper Sandler reduced their target price on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a report on Tuesday, February 25th. TD Securities cut their price target on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley decreased their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.27.

Sweetgreen Trading Down 1.5 %

SG opened at $25.73 on Wednesday. Sweetgreen, Inc. has a 1-year low of $18.77 and a 1-year high of $45.12. The firm has a 50-day moving average price of $27.05 and a two-hundred day moving average price of $33.01. The stock has a market capitalization of $3.02 billion, a PE ratio of -32.99 and a beta of 2.44.

Sweetgreen Company 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.