Sweetgreen, Inc. (NYSE:SG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 261,389 shares of the company’s stock after selling 23,294 shares during the period. Victory Capital Management Inc. owned approximately 0.23% of Sweetgreen worth $8,380,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SG. Steward Partners Investment Advisory LLC increased its stake in Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after purchasing an additional 1,000 shares in the last quarter. Denver PWM LLC purchased a new stake in shares of Sweetgreen during the fourth quarter valued at $60,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Sweetgreen in the 4th quarter valued at $62,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new position in Sweetgreen in the 4th quarter worth $77,000. Finally, KBC Group NV lifted its position in Sweetgreen by 29.1% during the 3rd 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. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Citigroup cut their price objective on Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. TD Securities cut their price target on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. UBS Group decreased their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group cut their price objective on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, TD Cowen reissued a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.27.

Sweetgreen Stock Performance

SG opened at $23.83 on Friday. The company has a fifty day moving average of $28.16 and a two-hundred day moving average of $33.27. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of -30.55 and a beta of 2.44. Sweetgreen, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $45.12.

Insider Activity at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 8,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total transaction of $265,040.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 21.52% of the stock is owned by company insiders.

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.