Moody National Bank Trust Division Buys Shares of 36,876 Sweetgreen, Inc. (NYSE:SG)

Moody National Bank Trust Division bought a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 36,876 shares of the company's stock, valued at approximately $1,182,000.

A number of other large investors have also recently bought and sold shares of SG. Harbor Capital Advisors Inc. lifted its stake in Sweetgreen by 18.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 170,172 shares of the company's stock valued at $5,456,000 after acquiring an additional 26,731 shares during the last quarter. Diversified Trust Co increased its position in Sweetgreen by 223.2% during the fourth quarter. Diversified Trust Co now owns 27,126 shares of the company's stock worth $870,000 after buying an additional 18,733 shares during the last quarter. Oliver Luxxe Assets LLC raised its stake in Sweetgreen by 3.9% in the fourth quarter. Oliver Luxxe Assets LLC now owns 57,841 shares of the company's stock valued at $1,854,000 after buying an additional 2,196 shares during the period. JPMorgan Chase & Co. raised its stake in Sweetgreen by 37.2% in the third quarter. JPMorgan Chase & Co. now owns 671,045 shares of the company's stock valued at $23,789,000 after buying an additional 181,805 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Sweetgreen by 13.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company's stock worth $82,032,000 after acquiring an additional 272,340 shares during the period. Institutional investors and hedge funds own 95.75% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SG shares. TD Cowen restated a "buy" rating and set a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. Citigroup upgraded Sweetgreen from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $44.00 to $49.00 in a research note on Friday. The Goldman Sachs Group reiterated a "neutral" rating and issued a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. Oppenheimer lowered their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group increased their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.10.

Insider Activity

In other Sweetgreen news, CEO Jonathan Neman sold 1,010 shares of Sweetgreen stock in a transaction on Monday, October 28th. The shares were sold at an average price of $40.01, for a total transaction of $40,410.10. Following the transaction, the chief executive officer now directly owns 1,930,228 shares of the company's stock, valued at $77,228,422.28. The trade was a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Wouleta Ayele sold 4,347 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.05, for a total transaction of $148,015.35. Following the completion of the sale, the chief technology officer now owns 140,302 shares of the company's stock, valued at approximately $4,777,283.10. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 640,838 shares of company stock worth $24,800,733 over the last three months. 21.52% of the stock is currently owned by insiders.

Sweetgreen Stock Up 3.5 %

SG stock traded up $1.10 during midday trading on Tuesday, reaching $32.64. 1,699,693 shares of the company's stock traded hands, compared to its average volume of 2,504,299. The firm's fifty day moving average price is $36.51 and its 200-day moving average price is $33.72. Sweetgreen, Inc. has a 52 week low of $9.66 and a 52 week high of $45.12. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -41.85 and a beta of 2.38.

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.