Quantbot Technologies LP Sells 1,424 Shares of Sweetgreen, Inc. (NYSE:SG)

Quantbot Technologies LP lessened its position in shares of Sweetgreen, Inc. (NYSE:SG) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,751 shares of the company’s stock after selling 1,424 shares during the period. Quantbot Technologies LP’s holdings in Sweetgreen were worth $1,627,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SG. Steward Partners Investment Advisory LLC lifted its stake 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 valued at $33,000 after buying an additional 1,000 shares during the period. Millstone Evans Group LLC bought a new position in Sweetgreen during the fourth quarter worth $53,000. Denver PWM LLC acquired a new stake in Sweetgreen in the fourth quarter worth $60,000. Wilmington Savings Fund Society FSB acquired a new stake in Sweetgreen in the fourth quarter worth $62,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in Sweetgreen in the fourth quarter valued at $77,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Price Performance

SG opened at $26.13 on Tuesday. Sweetgreen, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $45.12. The company’s 50-day moving average is $27.19 and its 200 day moving average is $33.02. The firm has a market capitalization of $3.07 billion, a P/E ratio of -33.50 and a beta of 2.44.

Insiders Place Their Bets

In other news, CFO Mitch Reback sold 8,000 shares of Sweetgreen stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total transaction of $265,040.00. Following the sale, the chief financial officer now directly owns 350,981 shares in the company, valued at $11,628,000.53. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nathaniel Ru sold 2,123 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $50,527.40. Following the transaction, the director now owns 1,785,099 shares of the company’s stock, valued at approximately $42,485,356.20. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,852 shares of company stock valued at $1,052,177 in the last 90 days. 21.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on SG shares. Oppenheimer reduced their target price on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. TD Securities cut their price target on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. UBS Group decreased their price objective on Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a report on Tuesday, February 25th. Finally, KeyCorp began coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.27.

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.