Geode Capital Management LLC Has $73.17 Million Position in Sweetgreen, Inc. (NYSE:SG)

Geode Capital Management LLC grew its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,281,671 shares of the company's stock after purchasing an additional 32,262 shares during the quarter. Geode Capital Management LLC owned about 1.97% of Sweetgreen worth $73,167,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SG. Cox Capital Mgt LLC increased its position in Sweetgreen by 76.0% during the fourth quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company's stock worth $1,728,000 after buying an additional 23,278 shares during the last quarter. Moody National Bank Trust Division bought a new position in shares of Sweetgreen during the 4th quarter worth approximately $1,182,000. Diversified Trust Co increased its holdings in shares of Sweetgreen by 223.2% during the 4th quarter. Diversified Trust Co now owns 27,126 shares of the company's stock worth $870,000 after acquiring an additional 18,733 shares during the last quarter. Franklin Resources Inc. raised its stake in Sweetgreen by 1,399.0% in the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company's stock valued at $4,365,000 after acquiring an additional 103,664 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Sweetgreen by 37.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 671,045 shares of the company's stock valued at $23,789,000 after purchasing an additional 181,805 shares during the last quarter. Institutional investors own 95.75% of the company's stock.

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Sweetgreen Stock Performance

Shares of NYSE SG traded down $0.96 during mid-day trading on Wednesday, reaching $19.53. The company had a trading volume of 2,111,905 shares, compared to its average volume of 3,700,161. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -25.04 and a beta of 2.28. The business's 50-day simple moving average is $23.90 and its 200 day simple moving average is $31.67. Sweetgreen, Inc. has a one year low of $18.62 and a one year high of $45.12.

Insiders Place Their Bets

In related news, Director Nathaniel Ru sold 2,123 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $50,527.40. Following the sale, the director now owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. This trade represents a 0.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Rossann Williams sold 4,977 shares of Sweetgreen stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $118,452.60. Following the completion of the transaction, the chief operating officer now directly owns 95,516 shares in the company, valued at $2,273,280.80. This trade represents a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,852 shares of company stock worth $787,137 over the last ninety days. Corporate insiders own 21.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Citigroup dropped their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Oppenheimer cut their price objective on shares of Sweetgreen from $41.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. UBS Group decreased their target price on Sweetgreen from $45.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada reissued an "outperform" rating and set a $45.00 price target on shares of Sweetgreen in a report on Tuesday, February 25th. Finally, TD Securities decreased their price objective on Sweetgreen from $45.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Sweetgreen presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.91.

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.