Baillie Gifford & Co. Sells 369,332 Shares of Sweetgreen, Inc. (NYSE:SG)

Baillie Gifford & Co. lessened its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 11,957,004 shares of the company's stock after selling 369,332 shares during the quarter. Baillie Gifford & Co. owned about 10.48% of Sweetgreen worth $423,876,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Hollencrest Capital Management bought a new stake in Sweetgreen during the 3rd quarter worth approximately $35,000. Quest Partners LLC bought a new stake in Sweetgreen during the 2nd quarter worth approximately $76,000. Atomi Financial Group Inc. bought a new stake in Sweetgreen during the 3rd quarter worth approximately $216,000. Versor Investments LP bought a new stake in Sweetgreen during the 2nd quarter worth approximately $217,000. Finally, Precision Wealth Strategies LLC bought a new stake in Sweetgreen during the 3rd quarter worth approximately $227,000. Institutional investors and hedge funds own 95.75% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group restated a "neutral" rating and issued a $40.00 price target on shares of Sweetgreen in a research report on Friday. Citigroup boosted their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, August 9th. Morgan Stanley boosted their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. UBS Group boosted 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. Finally, Oppenheimer boosted 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. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Sweetgreen presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.80.

Sweetgreen Stock Performance

Shares of SG traded down $1.06 during trading hours on Tuesday, hitting $38.20. The company had a trading volume of 1,519,225 shares, compared to its average volume of 2,869,982. Sweetgreen, Inc. has a 52-week low of $8.83 and a 52-week high of $42.77. The firm has a fifty day moving average price of $35.74 and a 200-day moving average price of $31.59. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of -50.33 and a beta of 2.32.

Insider Buying and Selling at Sweetgreen

In related news, CTO Wouleta Ayele sold 2,831 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $102,793.61. Following the completion of the transaction, the chief technology officer now directly owns 144,649 shares in the company, valued at approximately $5,252,205.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CTO Wouleta Ayele sold 2,831 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $102,793.61. Following the sale, the chief technology officer now directly owns 144,649 shares of the company's stock, valued at $5,252,205.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicolas Jammet sold 169,767 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.77, for a total value of $6,072,565.59. Following the sale, the insider now directly owns 1,930,233 shares in the company, valued at $69,044,434.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 466,022 shares of company stock worth $16,671,481 in the last three months. 21.52% of the stock is currently owned by company 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.