First Trust Advisors LP Grows Stake in Sweetgreen, Inc. (NYSE:SG)

First Trust Advisors LP boosted its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 252,938 shares of the company's stock after acquiring an additional 15,247 shares during the period. First Trust Advisors LP owned 0.22% of Sweetgreen worth $8,109,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its position in Sweetgreen by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock valued at $336,000 after acquiring an additional 473 shares in the last quarter. Cypress Wealth Services LLC raised its stake in shares of Sweetgreen by 6.1% in the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company's stock worth $270,000 after purchasing an additional 483 shares during the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Sweetgreen by 1.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company's stock valued at $1,608,000 after purchasing an additional 600 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Sweetgreen by 2.1% during the fourth quarter. Arizona State Retirement System now owns 29,535 shares of the company's stock valued at $947,000 after buying an additional 613 shares during the last quarter. Finally, Xponance Inc. grew its holdings in Sweetgreen by 10.8% during the fourth quarter. Xponance Inc. now owns 7,185 shares of the company's stock worth $230,000 after buying an additional 702 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company's stock.

Sweetgreen Stock Performance

NYSE:SG traded up $1.22 during trading hours on Friday, reaching $20.90. The stock had a trading volume of 3,562,137 shares, compared to its average volume of 3,365,518. The stock has a market cap of $2.45 billion, a P/E ratio of -26.79 and a beta of 2.28. The stock has a 50 day simple moving average of $22.21 and a 200 day simple moving average of $30.09. Sweetgreen, Inc. has a 12-month low of $16.29 and a 12-month high of $45.12.

Analysts Set New Price Targets

SG has been the topic of several recent analyst reports. Piper Sandler dropped their price objective on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Oppenheimer dropped their price target on shares of Sweetgreen from $41.00 to $35.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group reduced 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. Morgan Stanley set a $24.00 target price on shares of Sweetgreen in a research report on Monday, April 14th. Finally, Citigroup reduced their target price on Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Sweetgreen presently has a consensus rating of "Moderate Buy" and an average price target of $35.91.

Insider Transactions at Sweetgreen

In related news, CFO Mitch Reback sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $21.07, for a total value of $84,280.00. Following the completion of the transaction, the chief financial officer now directly owns 344,509 shares of the company's stock, valued at approximately $7,258,804.63. This trade represents a 1.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nathaniel Ru sold 2,123 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $50,527.40. Following the sale, the director now directly owns 1,785,099 shares in the company, valued at $42,485,356.20. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,852 shares of company stock worth $871,417. 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.