Sweetgreen, Inc. (NYSE:SG) Stake Lessened by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in shares of Sweetgreen, Inc. (NYSE:SG) by 69.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 555,800 shares of the company’s stock after selling 1,283,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Sweetgreen were worth $17,819,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its position in shares of Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Sweetgreen by 156.0% during the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after buying an additional 741 shares in the last quarter. Millstone Evans Group LLC bought a new stake in Sweetgreen during the fourth quarter worth approximately $53,000. Denver PWM LLC bought a new position in shares of Sweetgreen in the fourth quarter valued at $60,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Sweetgreen in the fourth quarter valued at $62,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SG has been the topic of a number of recent research reports. Morgan Stanley decreased their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. UBS Group dropped their price target on Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Piper Sandler reduced their price objective on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. TD Securities dropped their target price on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.27.

Insider Buying and Selling

In related news, Director Nathaniel Ru sold 2,123 shares of the company’s stock in a transaction on Monday, March 17th. The shares were 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 directly owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jonathan Neman sold 5,717 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the transaction, the chief executive officer now owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,852 shares of company stock worth $1,052,177. Corporate insiders own 21.52% of the company’s stock.

Sweetgreen Stock Down 4.1 %

Shares of NYSE:SG opened at $21.03 on Monday. The firm has a fifty day moving average of $24.34 and a two-hundred day moving average of $31.85. Sweetgreen, Inc. has a 12-month low of $18.62 and a 12-month high of $45.12. The firm has a market capitalization of $2.47 billion, a P/E ratio of -26.96 and a beta of 2.28.

About Sweetgreen

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.