Sweetgreen, Inc. (NYSE:SG) Position Increased by Comerica Bank

Comerica Bank grew its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 278.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,557 shares of the company's stock after buying an additional 98,956 shares during the quarter. Comerica Bank owned approximately 0.12% of Sweetgreen worth $4,314,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SG. Cox Capital Mgt LLC boosted its position in Sweetgreen by 76.0% during the 4th quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company's stock worth $1,728,000 after acquiring an additional 23,278 shares during the period. Moody National Bank Trust Division purchased a new stake in shares of Sweetgreen in the fourth quarter worth approximately $1,182,000. Diversified Trust Co boosted its holdings in shares of Sweetgreen by 223.2% during the fourth quarter. Diversified Trust Co now owns 27,126 shares of the company's stock worth $870,000 after purchasing an additional 18,733 shares during the period. Franklin Resources Inc. grew its position in Sweetgreen by 1,399.0% during the third quarter. Franklin Resources Inc. now owns 111,074 shares of the company's stock valued at $4,365,000 after purchasing an additional 103,664 shares in the last quarter. Finally, LPL Financial LLC increased its stake in Sweetgreen by 400.1% in the 4th quarter. LPL Financial LLC now owns 59,592 shares of the company's stock valued at $1,911,000 after buying an additional 47,676 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Trading Down 6.2 %

Shares of Sweetgreen stock opened at $19.54 on Tuesday. The firm has a fifty day simple moving average of $22.13 and a 200-day simple moving average of $29.94. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -25.05 and a beta of 2.31. Sweetgreen, Inc. has a 1-year low of $16.29 and a 1-year high of $45.12.

Wall Street Analysts Forecast Growth

SG has been the subject of several recent research reports. Oppenheimer cut their price objective on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. UBS Group reduced their price target on Sweetgreen from $35.00 to $30.00 and set a "buy" rating for the company in a report on Monday. Piper Sandler dropped their price objective on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a report 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 report on Thursday, February 27th. Finally, TD Securities decreased their target price on shares of Sweetgreen from $45.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $35.45.

Insider Buying and Selling

In other news, COO Rossann Williams sold 4,977 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $118,452.60. Following the completion of the sale, the chief operating officer now directly owns 95,516 shares of the company's stock, valued at approximately $2,273,280.80. This represents a 4.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mitch Reback sold 4,000 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $21.07, for a total transaction of $84,280.00. Following the transaction, the chief financial officer now directly owns 344,509 shares in the company, valued at $7,258,804.63. This trade represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,852 shares of company stock worth $871,417 in the last quarter. 21.52% of the stock is currently 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.

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