Corebridge Financial Inc. Sells 3,014 Shares of Sweetgreen, Inc. (NYSE:SG)

Corebridge Financial Inc. lessened its holdings in Sweetgreen, Inc. (NYSE:SG) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,800 shares of the company’s stock after selling 3,014 shares during the quarter. Corebridge Financial Inc.’s holdings in Sweetgreen were worth $1,597,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Deepwater Asset Management LLC acquired a new stake in Sweetgreen during the 4th quarter worth $13,695,000. Vanguard Group Inc. boosted its position in shares of Sweetgreen by 3.8% in the 4th 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. Amundi acquired a new stake in shares of Sweetgreen during the fourth quarter worth $9,112,000. Lord Abbett & CO. LLC increased its holdings in Sweetgreen by 13.3% in 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 last quarter. Finally, Tidal Investments LLC increased its holdings in Sweetgreen by 848.2% in the third quarter. Tidal Investments LLC now owns 270,141 shares of the company’s stock valued at $9,576,000 after purchasing an additional 241,652 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. KeyCorp assumed coverage on Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating for the company. Citigroup lowered their target price on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Piper Sandler reduced their price target 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. The Goldman Sachs Group lowered their price objective on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Oppenheimer reduced their target price on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Four 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 company currently has an average rating of “Moderate Buy” and an average price target of $36.27.

Sweetgreen Stock Performance

NYSE:SG opened at $25.67 on Thursday. The stock has a 50-day simple moving average of $26.28 and a 200 day simple moving average of $32.74. Sweetgreen, Inc. has a 52-week low of $18.77 and a 52-week high of $45.12. The company has a market cap of $3.01 billion, a PE ratio of -32.91 and a beta of 2.44.

Insiders Place Their Bets

In other news, Director Nathaniel Ru sold 2,123 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $50,527.40. Following the completion of the transaction, the director now directly owns 1,785,099 shares in the company, valued at $42,485,356.20. This represents a 0.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $118,452.60. Following the completion of the transaction, the chief operating officer now owns 95,516 shares of the company’s stock, valued at $2,273,280.80. The trade was a 4.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,852 shares of company stock valued at $1,052,177 in the last quarter. 21.52% of the stock is currently owned by insiders.

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.