Baillie Gifford & Co. Lowers Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Baillie Gifford & Co. trimmed its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 5.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,320,949 shares of the company’s stock after selling 636,055 shares during the period. Baillie Gifford & Co. owned approximately 9.79% of Sweetgreen worth $362,950,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SG. Stephens Investment Management Group LLC lifted its holdings in shares of Sweetgreen by 139.9% during the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after purchasing an additional 547,816 shares during the last quarter. Deepwater Asset Management LLC purchased a new position in shares of Sweetgreen during the fourth quarter valued at approximately $13,695,000. Lord Abbett & CO. LLC lifted its holdings 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 valued at $82,032,000 after purchasing an additional 272,340 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Sweetgreen by 848.2% during the third quarter. Tidal Investments LLC now owns 270,141 shares of the company’s stock valued at $9,576,000 after purchasing an additional 241,652 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Sweetgreen by 7.5% during the third quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock valued at $120,784,000 after acquiring an additional 236,874 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Sweetgreen Stock Up 0.1 %

NYSE:SG opened at $27.17 on Monday. Sweetgreen, Inc. has a 12 month low of $10.93 and a 12 month high of $45.12. The company has a 50 day simple moving average of $32.49 and a two-hundred day simple moving average of $34.51.

Insider Activity

In other news, insider Nicolas Jammet sold 14,551 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $654,795.00. Following the completion of the sale, the insider now owns 1,930,233 shares of the company’s stock, valued at $86,860,485. The trade was a 0.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Julie Bornstein sold 4,464 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $42.11, for a total transaction of $187,979.04. Following the sale, the director now directly owns 32,637 shares of the company’s stock, valued at approximately $1,374,344.07. The trade was a 12.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 582,381 shares of company stock valued at $22,522,748 in the last 90 days. Company insiders own 21.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SG shares. UBS Group raised their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Oppenheimer reduced their price target on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group reissued a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. KeyCorp started coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating for the company. Finally, Citigroup reduced their price target on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

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.