Principal Financial Group Inc. lowered its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 31.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP grew its position in Sweetgreen by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company's stock valued at $120,784,000 after acquiring an additional 236,874 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Sweetgreen by 231.8% during the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company's stock valued at $81,028,000 after purchasing an additional 1,878,216 shares during the period. Lord Abbett & CO. LLC grew its holdings in shares of Sweetgreen by 13.3% in the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company's stock worth $82,032,000 after purchasing an additional 272,340 shares during the last quarter. State Street Corp increased its stake in Sweetgreen by 3.2% in the 3rd quarter. State Street Corp now owns 2,263,025 shares of the company's stock worth $80,224,000 after buying an additional 69,120 shares during the period. Finally, Geode Capital Management LLC increased its stake in Sweetgreen by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company's stock worth $79,757,000 after buying an additional 116,243 shares during the period. Hedge funds and other institutional investors own 95.75% of the company's stock.
Sweetgreen Price Performance
Sweetgreen stock traded up $0.03 during trading hours on Thursday, reaching $32.09. The stock had a trading volume of 2,045,902 shares, compared to its average volume of 2,834,984. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -41.14 and a beta of 2.32. The business's 50 day moving average price is $37.45 and its 200-day moving average price is $33.51. Sweetgreen, Inc. has a 52 week low of $9.66 and a 52 week high of $45.12.
Wall Street Analyst Weigh In
A number of equities analysts have commented on SG shares. UBS Group upped their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Oppenheimer increased their price objective on Sweetgreen from $40.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. The Goldman Sachs Group restated a "neutral" rating and set a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. TD Cowen reiterated a "buy" rating and issued a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Finally, KeyCorp started coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a "sector weight" rating on the stock. Five 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 has a consensus rating of "Moderate Buy" and an average target price of $39.80.
Check Out Our Latest Analysis on Sweetgreen
Insider Transactions at Sweetgreen
In other news, CEO Jonathan Neman sold 1,010 shares of the firm's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $40,410.10. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company's stock, valued at $77,228,422.28. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Wouleta Ayele sold 4,347 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $148,015.35. Following the completion of the sale, the chief technology officer now directly owns 140,302 shares of the company's stock, valued at approximately $4,777,283.10. This represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 640,838 shares of company stock valued at $24,800,733 in the last 90 days. Insiders own 21.52% of the company's stock.
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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