Charles Schwab Investment Management Inc. Raises Holdings in Sweetgreen, Inc. (NYSE:SG)

Charles Schwab Investment Management Inc. boosted its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 8.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 830,249 shares of the company's stock after purchasing an additional 64,205 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.73% of Sweetgreen worth $29,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SG. Baillie Gifford & Co. boosted its holdings in Sweetgreen by 6.2% in the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company's stock worth $371,516,000 after acquiring an additional 721,740 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company's stock worth $81,028,000 after acquiring an additional 1,878,216 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sweetgreen by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company's stock worth $53,151,000 after acquiring an additional 39,823 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in Sweetgreen by 42.6% in the second quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company's stock worth $49,521,000 after acquiring an additional 490,806 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Sweetgreen by 13.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,258,484 shares of the company's stock worth $44,613,000 after acquiring an additional 148,684 shares in the last quarter. Institutional investors own 95.75% of the company's stock.

Sweetgreen Price Performance

SG stock traded down $0.44 during trading on Thursday, hitting $40.05. 1,625,765 shares of the company traded hands, compared to its average volume of 2,862,873. The stock's 50-day simple moving average is $37.90 and its 200 day simple moving average is $33.09. The company has a market cap of $4.63 billion, a PE ratio of -51.60 and a beta of 2.32. Sweetgreen, Inc. has a 1 year low of $9.66 and a 1 year high of $45.12.

Insider Activity at Sweetgreen

In other news, CFO Mitch Reback sold 9,507 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $323,713.35. Following the completion of the sale, the chief financial officer now directly owns 360,177 shares in the company, valued at $12,264,026.85. The trade was a 2.57 % 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, CEO Jonathan Neman sold 7,400 shares of the business's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $28.81, for a total value of $213,194.00. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company's stock, valued at $55,609,868.68. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,892 shares of company stock worth $7,499,763. 21.52% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SG has been the subject of several recent analyst reports. UBS Group raised their price target on Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Citigroup lifted their target price on Sweetgreen from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, August 9th. Bank of America lifted their target price on Sweetgreen from $39.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, August 19th. Piper Sandler reaffirmed a "neutral" rating and set a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Finally, Morgan Stanley lifted their target price on Sweetgreen from $25.00 to $27.00 and gave the stock an "equal weight" rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Sweetgreen has a consensus rating of "Moderate Buy" and a consensus target price of $39.80.

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.