Principal Financial Group Inc. Sells 67,768 Shares of Sweetgreen, Inc. (NYSE:SG)

Principal Financial Group Inc. decreased its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 31.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,513 shares of the company's stock after selling 67,768 shares during the quarter. Principal Financial Group Inc. owned about 0.13% of Sweetgreen worth $5,336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SG. Quest Partners LLC bought a new stake in shares of Sweetgreen during the 2nd quarter valued at $76,000. Atomi Financial Group Inc. bought a new stake in shares of Sweetgreen during the 3rd quarter valued at about $216,000. Versor Investments LP bought a new stake in shares of Sweetgreen during the 2nd quarter valued at about $217,000. Precision Wealth Strategies LLC bought a new position in Sweetgreen in the third quarter worth approximately $227,000. Finally, LVW Advisors LLC bought a new position in Sweetgreen in the third quarter worth approximately $229,000. 95.75% of the stock is currently owned by institutional investors.

Sweetgreen Trading Up 0.1 %

SG opened at $37.91 on Thursday. The business's 50-day moving average price is $36.62 and its 200-day moving average price is $32.17. Sweetgreen, Inc. has a 12 month low of $9.21 and a 12 month high of $42.77.

Analysts Set New Price Targets

Several analysts have recently commented on SG shares. UBS Group increased their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Citigroup raised their target price on Sweetgreen from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, August 9th. Piper Sandler reissued a "neutral" rating and issued a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Finally, Oppenheimer raised their price target on Sweetgreen from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Sweetgreen currently has an average rating of "Moderate Buy" and a consensus price target of $39.80.

Insider Transactions at Sweetgreen

In related news, insider Nicolas Jammet sold 169,767 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,565.59. Following the transaction, the insider now owns 1,930,233 shares in the company, valued at $69,044,434.41. The trade was a 8.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan Neman sold 169,772 shares of the business's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,744.44. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $69,044,255.56. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 503,671 shares of company stock worth $18,138,774. Company insiders own 21.52% of the company's stock.

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.