Osterweis Capital Management Inc. Sells 34,045 Shares of Sweetgreen, Inc. (NYSE:SG)

Osterweis Capital Management Inc. lessened its position in Sweetgreen, Inc. (NYSE:SG) by 9.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 315,895 shares of the company’s stock after selling 34,045 shares during the period. Osterweis Capital Management Inc.’s holdings in Sweetgreen were worth $10,128,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Sweetgreen during the fourth quarter worth approximately $52,558,000. Invesco Ltd. raised its position in Sweetgreen by 40.9% in the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock valued at $176,850,000 after purchasing an additional 1,601,666 shares during the last quarter. Wellington Management Group LLP boosted its stake in Sweetgreen by 30.1% in the fourth quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock worth $142,106,000 after purchasing an additional 1,025,341 shares in the last quarter. Deepwater Asset Management LLC bought a new stake in shares of Sweetgreen during the fourth quarter worth $13,695,000. Finally, Vanguard Group Inc. grew its holdings in shares of Sweetgreen by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock worth $306,009,000 after purchasing an additional 351,240 shares during the last quarter. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Price Performance

Shares of SG stock opened at $19.75 on Thursday. The stock has a market cap of $2.32 billion, a PE ratio of -25.32 and a beta of 2.28. The stock has a 50-day moving average of $23.71 and a 200-day moving average of $31.59. Sweetgreen, Inc. has a one year low of $18.62 and a one year high of $45.12.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the transaction, the chief financial officer now directly owns 344,055 shares in the company, valued at approximately $9,093,373.65. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Rossann Williams sold 4,977 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $118,452.60. Following the completion of the sale, the chief operating officer now owns 95,516 shares of the company’s stock, valued at $2,273,280.80. This trade represents a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,852 shares of company stock valued at $871,417. Corporate insiders own 21.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SG. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th. 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 report on Thursday, February 27th. Morgan Stanley set a $24.00 price target on shares of Sweetgreen in a research note on Monday. Oppenheimer dropped their price objective on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, 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. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $35.91.

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.