Raymond James Financial Inc. Invests $2.27 Million in Sweetgreen, Inc. (NYSE:SG)

Raymond James Financial Inc. bought a new stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 70,643 shares of the company's stock, valued at approximately $2,265,000. Raymond James Financial Inc. owned about 0.06% of Sweetgreen as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in SG. Steward Partners Investment Advisory LLC boosted its stake in Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after acquiring an additional 1,000 shares during the last quarter. Denver PWM LLC bought a new position in shares of Sweetgreen during the fourth quarter worth $60,000. Wilmington Savings Fund Society FSB bought a new position in shares of Sweetgreen during the fourth quarter worth $62,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new position in shares of Sweetgreen in the 4th quarter valued at $77,000. Finally, Sachetta LLC increased its position in shares of Sweetgreen by 37.6% in the 4th quarter. Sachetta LLC now owns 4,324 shares of the company's stock valued at $139,000 after buying an additional 1,182 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company's stock.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 8,109 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.84, for a total transaction of $193,318.56. Following the sale, the chief financial officer now directly owns 350,023 shares of the company's stock, valued at approximately $8,344,548.32. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nathaniel Ru sold 2,123 shares of Sweetgreen 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 of the company's stock, valued at approximately $42,485,356.20. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,852 shares of company stock worth $1,052,177 in the last three months. Insiders own 21.52% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley decreased their target price on Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 21st. Citigroup decreased their price objective on Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Piper Sandler lowered their target price on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group cut their price target on shares of Sweetgreen from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Finally, TD Securities lowered their price objective on shares of Sweetgreen from $45.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Four 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.com, Sweetgreen has a consensus rating of "Moderate Buy" and a consensus target price of $36.27.

Sweetgreen Stock Performance

Sweetgreen stock traded down $3.07 during mid-day trading on Thursday, reaching $22.49. The company's stock had a trading volume of 6,716,755 shares, compared to its average volume of 3,174,764. Sweetgreen, Inc. has a 12 month low of $18.77 and a 12 month high of $45.12. The business's 50 day simple moving average is $26.14 and its 200 day simple moving average is $32.67. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -28.83 and a beta of 2.44.

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.