Fmr LLC Raises Stock Position in Sweetgreen, Inc. (NYSE:SG)

Fmr LLC grew its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,103,969 shares of the company’s stock after buying an additional 329,789 shares during the period. Fmr LLC owned 8.74% of Sweetgreen worth $323,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of SG. Cypress Wealth Services LLC raised its stake in Sweetgreen by 6.1% during the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock valued at $270,000 after purchasing an additional 483 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in Sweetgreen by 1.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock valued at $1,608,000 after buying an additional 600 shares during the period. Arizona State Retirement System grew its stake in Sweetgreen by 2.1% in the fourth quarter. Arizona State Retirement System now owns 29,535 shares of the company’s stock worth $947,000 after purchasing an additional 613 shares in the last quarter. Xponance Inc. grew its position in shares of Sweetgreen by 10.8% during the 4th quarter. Xponance Inc. now owns 7,185 shares of the company’s stock worth $230,000 after buying an additional 702 shares in the last quarter. Finally, Headlands Technologies LLC grew its holdings in Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after acquiring an additional 741 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SG. Oppenheimer cut their price target on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Piper Sandler lowered their price target on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th. TD Securities cut their target price on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley reduced their price target on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.27.

Sweetgreen Stock Down 3.5 %

Shares of NYSE:SG opened at $21.95 on Friday. Sweetgreen, Inc. has a fifty-two week low of $18.62 and a fifty-two week high of $45.12. The firm’s 50-day simple moving average is $24.58 and its 200-day simple moving average is $31.97. The company has a market cap of $2.57 billion, a price-to-earnings ratio of -28.14 and a beta of 2.28.

Insider Activity

In other news, COO Rossann Williams sold 4,977 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $118,452.60. Following the completion of the transaction, the chief operating officer now owns 95,516 shares of the company’s stock, valued at $2,273,280.80. This represents a 4.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mitch Reback sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total transaction of $265,040.00. Following the transaction, the chief financial officer now directly owns 350,981 shares of the company’s stock, valued at $11,628,000.53. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,852 shares of company stock worth $1,052,177 in the last 90 days. 21.52% of the stock is currently owned by corporate 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.