Invesco Ltd. increased its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 40.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,516,223 shares of the company's stock after purchasing an additional 1,601,666 shares during the quarter. Invesco Ltd. owned 4.77% of Sweetgreen worth $176,850,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of SG. Steward Partners Investment Advisory LLC increased its holdings 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 worth $33,000 after buying an additional 1,000 shares in the last quarter. Headlands Technologies LLC increased its holdings in Sweetgreen by 156.0% in 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 in the last quarter. Millstone Evans Group LLC bought a new position in Sweetgreen in the fourth quarter valued at about $53,000. Denver PWM LLC acquired a new stake in shares of Sweetgreen during the fourth quarter valued at about $60,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Sweetgreen during the fourth quarter valued at about $62,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Citigroup reduced their target price on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. UBS Group lowered their target price on Sweetgreen from $45.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Morgan Stanley set a $24.00 price target on Sweetgreen in a research report on Monday. Piper Sandler lowered their price objective on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $45.00 target price on shares of Sweetgreen in a report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Sweetgreen presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.91.
Read Our Latest Research Report on Sweetgreen
Sweetgreen Stock Performance
SG traded down $0.74 during midday trading on Wednesday, hitting $19.75. The stock had a trading volume of 3,204,592 shares, compared to its average volume of 3,265,725. The company has a market cap of $2.32 billion, a P/E ratio of -25.32 and a beta of 2.28. The business has a fifty day moving average of $23.90 and a 200 day moving average of $31.67. Sweetgreen, Inc. has a 1 year low of $18.62 and a 1 year high of $45.12.
Insider Activity at Sweetgreen
In other Sweetgreen news, CFO Mitch Reback sold 10,926 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total value of $288,774.18. Following the sale, the chief financial officer now directly owns 344,055 shares of the company's stock, valued at approximately $9,093,373.65. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jonathan Neman sold 5,717 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the completion of the transaction, the chief executive officer now directly owns 1,810,263 shares in the company, valued at $43,084,259.40. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,852 shares of company stock worth $871,417 in the last ninety days. 21.52% of the stock is owned by company insiders.
About Sweetgreen
(
Free Report)
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.
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