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

Algert Global LLC lessened its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 34.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,033 shares of the company's stock after selling 32,255 shares during the period. Algert Global LLC owned 0.05% of Sweetgreen worth $2,199,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Sweetgreen by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company's stock valued at $212,713,000 after purchasing an additional 70,395 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Sweetgreen by 47.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 55,041 shares of the company's stock worth $1,391,000 after buying an additional 17,750 shares in the last quarter. Bayesian Capital Management LP boosted its position in Sweetgreen by 120.2% during the first quarter. Bayesian Capital Management LP now owns 27,665 shares of the company's stock worth $699,000 after acquiring an additional 15,100 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Sweetgreen by 5.1% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 309,630 shares of the company's stock valued at $7,821,000 after acquiring an additional 14,948 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in Sweetgreen by 98.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,628 shares of the company's stock valued at $561,000 after acquiring an additional 9,238 shares during the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Price Performance

Shares of Sweetgreen stock traded down $0.88 during trading on Wednesday, hitting $42.39. 1,827,518 shares of the stock were exchanged, compared to its average volume of 2,881,304. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of -54.40 and a beta of 2.32. The firm's 50-day moving average price is $37.32 and its 200 day moving average price is $32.73. Sweetgreen, Inc. has a 12-month low of $9.31 and a 12-month high of $45.12.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. Oppenheimer increased their price target on shares of Sweetgreen from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. 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 report on Friday, November 8th. Morgan Stanley upped their price objective on Sweetgreen from $25.00 to $27.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. Finally, Citigroup raised their target price on Sweetgreen from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.80.

Insider Activity at Sweetgreen

In related news, CEO Jonathan Neman sold 14,745 shares of Sweetgreen stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $663,525.00. Following the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $86,860,260. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicolas Jammet sold 14,551 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.00, for a total value of $654,795.00. Following the completion of the sale, the insider now directly owns 1,930,233 shares of the company's stock, valued at approximately $86,860,485. This trade represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,892 shares of company stock valued at $7,499,763 in the last ninety days. Insiders own 21.52% of the company's stock.

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.