Fmr LLC Sells 1,195,956 Shares of Sweetgreen, Inc. (NYSE:SG)

Fmr LLC trimmed its position in shares of Sweetgreen, Inc. (NYSE:SG) by 10.9% during the 3rd quarter, according to its most recent Form 13F filing 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 approximately 0.09% of Sweetgreen worth $346,495,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new stake in shares of Sweetgreen during the 3rd quarter worth approximately $177,000. Daiwa Securities Group Inc. bought a new position in Sweetgreen in the third quarter worth $155,000. Cerity Partners LLC boosted its stake in 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 buying an additional 1,997 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Sweetgreen by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 830,249 shares of the company’s stock valued at $29,432,000 after buying an additional 64,205 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of Sweetgreen in the 3rd quarter valued at $1,045,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analyst Ratings Changes

SG has been the topic of several recent research reports. Piper Sandler reiterated a “neutral” rating and set a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Citigroup upped their price objective on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. UBS Group raised their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. TD Cowen reiterated a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. Finally, Bank of America increased their price objective on Sweetgreen from $39.00 to $43.00 and gave the stock 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.80.

Insider Activity at Sweetgreen

In related news, insider Adrienne Gemperle sold 5,372 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $182,916.60. Following the transaction, the insider now owns 107,313 shares in the company, valued at $3,654,007.65. This trade represents a 4.77 % 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 Bradley E. Singer sold 42,730 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $38.09, for a total value of $1,627,585.70. Following the sale, the director now directly owns 139,052 shares of the company’s stock, valued at $5,296,490.68. This represents a 23.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,892 shares of company stock valued at $7,499,763 over the last quarter. Corporate insiders own 21.52% of the company’s stock.

Sweetgreen Trading Down 3.4 %

SG opened at $40.98 on Friday. Sweetgreen, Inc. has a 1-year low of $9.31 and a 1-year high of $45.12. The stock has a market capitalization of $4.74 billion, a PE ratio of -52.54 and a beta of 2.32. The firm has a 50-day moving average price of $37.69 and a two-hundred day moving average price of $32.93.

Sweetgreen 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.