Atika Capital Management LLC Has $6.96 Million Holdings in Sweetgreen, Inc. (NYSE:SG)

Atika Capital Management LLC trimmed its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 26.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 217,000 shares of the company’s stock after selling 78,000 shares during the quarter. Atika Capital Management LLC owned about 0.19% of Sweetgreen worth $6,957,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Sweetgreen during the 4th quarter valued at $52,558,000. Wellington Management Group LLP lifted its position in Sweetgreen by 30.1% during the fourth quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock worth $142,106,000 after purchasing an additional 1,025,341 shares during the period. Deepwater Asset Management LLC acquired a new stake in Sweetgreen during the fourth quarter worth about $13,695,000. Vanguard Group Inc. increased its holdings in Sweetgreen by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock valued at $306,009,000 after buying an additional 351,240 shares during the period. Finally, Amundi acquired a new position in shares of Sweetgreen in the 4th quarter valued at approximately $9,112,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SG. Piper Sandler reduced their target price on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Oppenheimer decreased their target price on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. KeyCorp began coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating for the company. Citigroup decreased their price target 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. Finally, Morgan Stanley dropped their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Sweetgreen currently has an average rating of “Moderate Buy” and a consensus price target of $36.27.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 8,109 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.84, for a total transaction of $193,318.56. Following the completion of the sale, the chief financial officer now directly owns 350,023 shares in the company, valued at approximately $8,344,548.32. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nathaniel Ru sold 2,123 shares of Sweetgreen stock in a transaction dated 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 transaction, the director now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 39,852 shares of company stock valued at $1,052,177. 21.52% of the stock is currently owned by company insiders.

Sweetgreen Price Performance

Shares of SG opened at $20.88 on Friday. The business has a 50-day moving average of $25.95 and a 200-day moving average of $32.57. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -26.76 and a beta of 2.28. Sweetgreen, Inc. has a 1 year low of $18.62 and a 1 year high of $45.12.

Sweetgreen Company 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.