Fmr LLC Buys 329,789 Shares of Sweetgreen, Inc. (NYSE:SG)

FMR LLC lifted its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,103,969 shares of the company's stock after acquiring an additional 329,789 shares during the quarter. FMR LLC owned approximately 8.74% of Sweetgreen worth $323,933,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SG. Steward Partners Investment Advisory LLC raised its stake in shares of Sweetgreen by 3,571.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock valued at $33,000 after acquiring an additional 1,000 shares during the last quarter. Headlands Technologies LLC raised its position 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 purchasing an additional 741 shares during the last quarter. Millstone Evans Group LLC acquired a new position in Sweetgreen during the 4th quarter worth about $53,000. Denver PWM LLC bought a new stake in shares of Sweetgreen in the 4th quarter valued at about $60,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Sweetgreen in the fourth quarter valued at about $62,000. Institutional investors own 95.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SG shares. UBS Group cut their price objective on Sweetgreen from $45.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Oppenheimer reduced their price objective on shares of Sweetgreen from $41.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group lowered their target price on shares of Sweetgreen from $37.00 to $32.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada restated an "outperform" rating and issued a $45.00 target price on shares of Sweetgreen in a report on Tuesday, February 25th. Finally, Citigroup decreased their price target on Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Four investment 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 $35.91.

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Insider Buying and Selling at Sweetgreen

In related news, CFO Mitch Reback sold 10,926 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total value of $288,774.18. Following the sale, the chief financial officer now owns 344,055 shares in the company, valued at $9,093,373.65. This represents a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nathaniel Ru sold 2,123 shares of the firm'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 $50,527.40. Following the completion of the transaction, the director now directly owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,852 shares of company stock valued at $787,137. Company insiders own 21.52% of the company's stock.

Sweetgreen Price Performance

Shares of SG traded down $0.17 during trading hours on Wednesday, hitting $20.32. The stock had a trading volume of 1,148,494 shares, compared to its average volume of 3,687,454. Sweetgreen, Inc. has a 1-year low of $18.62 and a 1-year high of $45.12. The firm has a market capitalization of $2.38 billion, a P/E ratio of -26.05 and a beta of 2.28. The firm has a 50 day simple moving average of $23.90 and a 200-day simple moving average of $31.67.

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.