State Street Corp Grows Stake in Sweetgreen, Inc. (NYSE:SG)

State Street Corp raised its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,263,025 shares of the company's stock after buying an additional 69,120 shares during the quarter. State Street Corp owned about 1.98% of Sweetgreen worth $80,224,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Hollencrest Capital Management bought a new position in shares of Sweetgreen during the third quarter valued at $35,000. Quest Partners LLC bought a new stake in Sweetgreen during the 2nd quarter valued at about $76,000. KBC Group NV increased its stake in Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company's stock valued at $111,000 after purchasing an additional 704 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Sweetgreen in the third quarter worth about $155,000. Finally, Canton Hathaway LLC bought a new position in shares of Sweetgreen in the third quarter worth approximately $177,000. Institutional investors own 95.75% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SG shares. Oppenheimer raised their price target on shares of Sweetgreen from $40.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. TD Cowen reissued a "buy" rating and issued a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. UBS Group boosted their price target on Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Finally, KeyCorp assumed coverage on Sweetgreen in a research report on Wednesday, December 11th. They issued a "sector weight" rating for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $39.80.

Sweetgreen Price Performance

Shares of NYSE:SG traded down $2.25 during trading on Wednesday, hitting $33.63. The company's stock had a trading volume of 2,648,284 shares, compared to its average volume of 2,857,698. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of -43.11 and a beta of 2.32. The company has a 50-day moving average of $38.25 and a 200-day moving average of $33.50. Sweetgreen, Inc. has a 12 month low of $9.66 and a 12 month high of $45.12.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 14,745 shares of Sweetgreen stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $663,525.00. Following the transaction, the chief executive officer now owns 1,930,228 shares of the company's stock, valued at $86,860,260. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nathaniel Ru sold 1,263 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $40.01, for a total transaction of $50,532.63. Following the completion of the transaction, the insider now owns 1,952,129 shares of the company's stock, valued at approximately $78,104,681.29. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 640,838 shares of company stock valued at $24,800,733. Insiders own 21.52% of the company's stock.

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.