Sweetgreen, Inc. (NYSE:SG) Shares Sold by Fmr LLC

Fmr LLC reduced its stake in Sweetgreen, Inc. (NYSE:SG) by 10.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,774,180 shares of the company’s stock after selling 1,195,956 shares during the period. Fmr LLC owned 8.56% of Sweetgreen worth $346,495,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Canton Hathaway LLC acquired a new position in Sweetgreen during the 3rd quarter valued at approximately $177,000. Daiwa Securities Group Inc. acquired a new position in shares of Sweetgreen during the third quarter valued at $155,000. Cerity Partners LLC grew its position in shares of Sweetgreen by 3.6% during the third quarter. Cerity Partners LLC now owns 57,258 shares of the company’s stock worth $2,030,000 after acquiring an additional 1,997 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Sweetgreen by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 830,249 shares of the company’s stock worth $29,432,000 after acquiring an additional 64,205 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Sweetgreen in the 3rd quarter valued at about $1,045,000. 95.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. Oppenheimer raised their target price on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and set a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. UBS Group raised their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Bank of America lifted their price objective on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Sweetgreen currently has an average rating of “Moderate Buy” and an average target price of $39.80.

Sweetgreen Price Performance

Shares of SG opened at $40.98 on Friday. Sweetgreen, Inc. has a 12-month low of $9.31 and a 12-month high of $45.12. The stock has a market capitalization of $4.74 billion, a P/E ratio of -52.54 and a beta of 2.32. The firm’s 50 day moving average is $37.69 and its 200-day moving average is $32.93.

Insider Activity at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 14,745 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $663,525.00. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $86,860,260. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julie Bornstein sold 4,464 shares of Sweetgreen stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $42.11, for a total value of $187,979.04. Following the completion of the transaction, the director now owns 32,637 shares in the company, valued at $1,374,344.07. The trade was a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,892 shares of company stock worth $7,499,763. 21.52% of the stock is owned by insiders.

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.