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

Fmr LLC raised its stake in Sweetgreen, Inc. (NYSE:SG) by 3.4% during the 4th quarter, HoldingsChannel reports. The firm owned 10,103,969 shares of the company’s stock after acquiring an additional 329,789 shares during the quarter. Fmr LLC owned 0.09% of Sweetgreen worth $323,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stifel Financial Corp acquired a new stake in Sweetgreen during the 3rd quarter valued at $287,000. State Street Corp grew its stake in shares of Sweetgreen by 3.2% during the third quarter. State Street Corp now owns 2,263,025 shares of the company’s stock valued at $80,224,000 after acquiring an additional 69,120 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Sweetgreen during the third quarter valued at about $277,000. M&T Bank Corp increased its position in shares of Sweetgreen by 22.0% during the third quarter. M&T Bank Corp now owns 27,648 shares of the company’s stock worth $980,000 after acquiring an additional 4,989 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Sweetgreen by 5.4% in the third quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock worth $79,757,000 after acquiring an additional 116,243 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Performance

SG opened at $21.95 on Friday. The company has a market capitalization of $2.57 billion, a PE ratio of -28.14 and a beta of 2.28. The stock’s fifty day moving average is $24.58 and its 200-day moving average is $31.97. Sweetgreen, Inc. has a one year low of $18.62 and a one year high of $45.12.

Analysts Set New Price Targets

SG has been the topic of several analyst reports. Piper Sandler dropped their price objective on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Morgan Stanley cut their target price on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. UBS Group decreased their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th. Finally, Citigroup reduced their price target on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and an average target price of $36.27.

Insider Buying and Selling

In other Sweetgreen news, CFO Mitch Reback sold 8,000 shares of Sweetgreen stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total value of $265,040.00. Following the transaction, the chief financial officer now owns 350,981 shares in the company, valued at approximately $11,628,000.53. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Rossann Williams sold 4,977 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $118,452.60. Following the sale, the chief operating officer now owns 95,516 shares of the company’s stock, valued at $2,273,280.80. This trade represents a 4.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,852 shares of company stock valued at $1,052,177 over the last three months. Company insiders own 21.52% of the company’s stock.

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.