Centiva Capital LP Boosts Stake in Sweetgreen, Inc. (NYSE:SG)

Centiva Capital LP lifted its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 141.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,649 shares of the company's stock after buying an additional 37,250 shares during the period. Centiva Capital LP owned approximately 0.06% of Sweetgreen worth $2,041,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its position in Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after purchasing an additional 1,000 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock worth $39,000 after buying an additional 741 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Sweetgreen by 45.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after buying an additional 494 shares during the period. Millstone Evans Group LLC bought a new position in Sweetgreen during the fourth quarter valued at about $53,000. Finally, Denver PWM LLC bought a new stake in Sweetgreen in the fourth quarter worth about $60,000. 95.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SG. Morgan Stanley set a $24.00 target price on shares of Sweetgreen in a research report on Monday, April 14th. Citigroup lowered their target price on Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Oppenheimer cut their price target on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada restated an "outperform" rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Finally, Piper Sandler cut their target price on shares of Sweetgreen from $39.00 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $34.36.

Insider Transactions at Sweetgreen

In related news, CEO Jonathan Neman sold 5,717 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the completion of the transaction, the chief executive officer now directly owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $288,774.18. Following the sale, the chief financial officer now directly owns 344,055 shares of the company's stock, valued at approximately $9,093,373.65. This trade represents a 3.08 % decrease in their position. 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. 21.52% of the stock is owned by corporate insiders.

Sweetgreen Stock Down 8.5 %

Shares of NYSE SG opened at $17.88 on Wednesday. The stock's 50-day simple moving average is $22.02 and its two-hundred day simple moving average is $29.86. Sweetgreen, Inc. has a twelve month low of $16.29 and a twelve month high of $45.12. The firm has a market capitalization of $2.10 billion, a P/E ratio of -22.92 and a beta of 2.31.

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.

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