Moody National Bank Trust Division Invests $1.18 Million in Sweetgreen, Inc. (NYSE:SG)

Moody National Bank Trust Division acquired a new stake in Sweetgreen, Inc. (NYSE:SG) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 36,876 shares of the company’s stock, valued at approximately $1,182,000.

A number of other large investors have also bought and sold shares of SG. Essex Investment Management Co. LLC lifted its stake in Sweetgreen by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock valued at $3,993,000 after buying an additional 314 shares in the last quarter. Evolutionary Tree Capital Management LLC lifted its position in Sweetgreen by 0.7% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock valued at $1,982,000 after acquiring an additional 474 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Sweetgreen by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after purchasing an additional 537 shares during the period. KBC Group NV raised its stake in shares of Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares during the period. Finally, Pier Capital LLC raised its stake in shares of Sweetgreen by 0.3% in the 3rd quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after purchasing an additional 761 shares during the period. 95.75% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Nicolas Jammet sold 170,199 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the completion of the sale, the insider now owns 1,760,034 shares in the company, valued at approximately $66,406,082.82. This trade represents a 8.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Wouleta Ayele sold 4,347 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $148,015.35. Following the completion of the transaction, the chief technology officer now owns 140,302 shares in the company, valued at approximately $4,777,283.10. This trade represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 640,838 shares of company stock valued at $24,800,733 over the last three months. Insiders own 21.52% of the company’s stock.

Sweetgreen Stock Performance

Shares of NYSE:SG opened at $31.51 on Tuesday. The company has a 50-day simple moving average of $36.65 and a 200 day simple moving average of $33.71. The company has a market capitalization of $3.64 billion, a P/E ratio of -40.40 and a beta of 2.38. Sweetgreen, Inc. has a 52-week low of $9.66 and a 52-week high of $45.12.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SG shares. KeyCorp began coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a research note on Friday, November 8th. Oppenheimer lowered their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. TD Cowen restated a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Finally, UBS Group lifted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.10.

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.