Centiva Capital LP Buys 37,250 Shares of Sweetgreen, Inc. (NYSE:SG)

Centiva Capital LP lifted its stake in Sweetgreen, Inc. (NYSE:SG) by 141.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 63,649 shares of the company’s stock after buying an additional 37,250 shares during the period. Centiva Capital LP’s holdings in Sweetgreen were worth $2,041,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SG. Captrust Financial Advisors bought a new stake in Sweetgreen in the 4th quarter worth $228,000. Cary Street Partners Financial LLC bought a new stake in shares of Sweetgreen in the fourth quarter worth about $1,122,000. Bank of America Corp DE increased its holdings in Sweetgreen by 46.0% during the 4th quarter. Bank of America Corp DE now owns 883,157 shares of the company’s stock valued at $28,314,000 after purchasing an additional 278,305 shares during the period. BNP Paribas Financial Markets bought a new position in Sweetgreen during the 4th quarter valued at approximately $739,000. Finally, Comerica Bank lifted its holdings in Sweetgreen by 278.0% in the 4th quarter. Comerica Bank now owns 134,557 shares of the company’s stock worth $4,314,000 after buying an additional 98,956 shares during the period. Institutional investors own 95.75% of the company’s stock.

Insider Buying and Selling at Sweetgreen

In other news, CEO Jonathan Neman sold 5,717 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 transaction of $136,064.60. Following the completion of the transaction, the chief executive officer now directly owns 1,810,263 shares in the company, valued at $43,084,259.40. This trade represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mitch Reback sold 4,000 shares of Sweetgreen stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $21.07, for a total value of $84,280.00. Following the completion of the transaction, the chief financial officer now directly owns 344,509 shares of the company’s stock, valued at approximately $7,258,804.63. This represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,852 shares of company stock worth $871,417. 21.52% of the stock is owned by insiders.

Sweetgreen Stock Performance

SG stock opened at $17.88 on Wednesday. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -22.92 and a beta of 2.31. The firm has a 50 day moving average price of $22.02 and a 200-day moving average price of $29.86. Sweetgreen, Inc. has a 52-week low of $16.29 and a 52-week high of $45.12.

Analysts Set New Price Targets

A number of equities analysts recently commented on SG shares. TD Securities decreased their target price on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, February 27th. UBS Group decreased their price objective on shares of Sweetgreen from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $25.00 target price (down previously from $32.00) on shares of Sweetgreen in a research note on Tuesday. Oppenheimer decreased their price target on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, Piper Sandler cut their price objective on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.36.

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.