Sweetgreen, Inc. (NYSE:SG) Shares Purchased by Voya Investment Management LLC

Voya Investment Management LLC lifted its stake in Sweetgreen, Inc. (NYSE:SG - Free Report) by 848.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 748,581 shares of the company's stock after acquiring an additional 669,657 shares during the quarter. Voya Investment Management LLC owned 0.65% of Sweetgreen worth $24,000,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Stifel Financial Corp purchased a new position in shares of Sweetgreen in the third quarter valued at approximately $287,000. Tidal Investments LLC boosted its position in Sweetgreen by 848.2% in the 3rd quarter. Tidal Investments LLC now owns 270,141 shares of the company's stock valued at $9,576,000 after buying an additional 241,652 shares during the period. Franklin Resources Inc. grew its stake in shares of Sweetgreen by 1,399.0% in the third quarter. Franklin Resources Inc. now owns 111,074 shares of the company's stock worth $4,365,000 after acquiring an additional 103,664 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company's stock worth $82,032,000 after acquiring an additional 272,340 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Sweetgreen by 37.2% in the third quarter. JPMorgan Chase & Co. now owns 671,045 shares of the company's stock valued at $23,789,000 after acquiring an additional 181,805 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company's stock.

Insider Activity at Sweetgreen

In other Sweetgreen news, Director Nathaniel Ru sold 2,123 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the sale, the director now owns 1,785,099 shares of the company's stock, valued at approximately $42,485,356.20. This trade represents a 0.12 % 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 the SEC website. Also, COO Rossann Williams sold 4,977 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $118,452.60. Following the transaction, the chief operating officer now directly owns 95,516 shares in the company, valued at approximately $2,273,280.80. This trade represents a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,852 shares of company stock worth $871,417 in the last three months. Insiders own 21.52% of the company's stock.

Sweetgreen Trading Up 1.0 %

Shares of NYSE SG traded up $0.19 during midday trading on Thursday, reaching $19.67. 5,739,296 shares of the company were exchanged, compared to its average volume of 3,366,552. The stock has a fifty day simple moving average of $22.30 and a 200 day simple moving average of $30.40. Sweetgreen, Inc. has a 1 year low of $16.29 and a 1 year high of $45.12. The stock has a market cap of $2.31 billion, a P/E ratio of -25.22 and a beta of 2.28.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SG shares. Morgan Stanley set a $24.00 price target on Sweetgreen in a report on Monday, April 14th. Citigroup reduced their target price on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. TD Securities lowered their price target on shares of Sweetgreen from $45.00 to $33.00 and set a "buy" 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 research report on Tuesday, February 25th. Finally, The Goldman Sachs Group dropped their target price on Sweetgreen from $37.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $35.91.

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.