ArrowMark Colorado Holdings LLC Sells 176,431 Shares of Sweetgreen, Inc. (NYSE:SG)

ArrowMark Colorado Holdings LLC decreased its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 27.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 474,731 shares of the company's stock after selling 176,431 shares during the quarter. ArrowMark Colorado Holdings LLC owned 0.41% of Sweetgreen worth $15,220,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Franklin Resources Inc. grew its position in Sweetgreen by 1,399.0% during the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company's stock worth $4,365,000 after purchasing an additional 103,664 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Sweetgreen by 37.2% during the third quarter. JPMorgan Chase & Co. now owns 671,045 shares of the company's stock valued at $23,789,000 after buying an additional 181,805 shares in the last quarter. Oliver Luxxe Assets LLC lifted its holdings in Sweetgreen by 3.9% in the 4th quarter. Oliver Luxxe Assets LLC now owns 57,841 shares of the company's stock worth $1,854,000 after purchasing an additional 2,196 shares during the last quarter. Diversified Trust Co grew its stake in 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 buying an additional 18,733 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Sweetgreen by 18.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 170,172 shares of the company's stock valued at $5,456,000 after purchasing an additional 26,731 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SG has been the subject of a number of research analyst reports. Oppenheimer cut their price target on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $45.00 price objective on shares of Sweetgreen in a report on Tuesday, February 25th. Citigroup cut their price target 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. TD Securities lowered their price objective on Sweetgreen from $45.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $34.36.

Sweetgreen Trading Down 8.5 %

Shares of Sweetgreen stock traded down $1.66 during midday trading on Tuesday, reaching $17.88. The company had a trading volume of 6,335,870 shares, compared to its average volume of 3,389,716. The stock has a fifty day simple moving average of $22.13 and a 200 day simple moving average of $29.94. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -22.92 and a beta of 2.31. Sweetgreen, Inc. has a 1-year low of $16.29 and a 1-year high of $45.12.

Insider Transactions at Sweetgreen

In other 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 owns 344,055 shares in the company, valued at $9,093,373.65. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jonathan Neman sold 5,717 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $136,064.60. Following the sale, the chief executive officer now owns 1,810,263 shares in the company, valued at $43,084,259.40. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,852 shares of company stock worth $871,417 in the last quarter. 21.52% of the stock is owned by company insiders.

Sweetgreen 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.