Barclays PLC Boosts Stock Position in Sweetgreen, Inc. (NYSE:SG)

Barclays PLC grew its stake in Sweetgreen, Inc. (NYSE:SG - Free Report) by 81.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,171 shares of the company's stock after purchasing an additional 92,071 shares during the quarter. Barclays PLC owned approximately 0.18% of Sweetgreen worth $6,577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SG. Stifel Financial Corp bought a new stake in Sweetgreen in the 3rd quarter valued at about $287,000. Tidal Investments LLC grew its position in Sweetgreen by 848.2% during the third quarter. Tidal Investments LLC now owns 270,141 shares of the company's stock worth $9,576,000 after buying an additional 241,652 shares in the last quarter. Franklin Resources Inc. increased its stake in Sweetgreen by 1,399.0% during the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company's stock worth $4,365,000 after acquiring an additional 103,664 shares during the period. Lord Abbett & CO. LLC raised its holdings in Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company's stock valued at $82,032,000 after acquiring an additional 272,340 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Sweetgreen by 37.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 671,045 shares of the company's stock valued at $23,789,000 after acquiring an additional 181,805 shares during the period. Institutional investors and hedge funds own 95.75% of the company's stock.

Sweetgreen Trading Up 0.7 %

NYSE:SG traded up $0.14 during trading hours on Friday, hitting $19.26. 5,286,485 shares of the company were exchanged, compared to its average volume of 3,348,844. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -24.69 and a beta of 2.28. The company has a fifty day simple moving average of $22.51 and a 200 day simple moving average of $30.72. Sweetgreen, Inc. has a one year low of $16.29 and a one year high of $45.12.

Insider Activity at Sweetgreen

In other news, CFO Mitch Reback sold 10,926 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total value of $288,774.18. Following the sale, the chief financial officer now directly owns 344,055 shares of the company's stock, valued at approximately $9,093,373.65. This represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Rossann Williams sold 4,977 shares of Sweetgreen stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $118,452.60. Following the transaction, the chief operating officer now directly owns 95,516 shares of the company's stock, valued at $2,273,280.80. This represents a 4.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,852 shares of company stock worth $871,417 over the last ninety days. Insiders own 21.52% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler dropped their price target on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. TD Securities dropped their target price 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. Citigroup reduced their price target on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Oppenheimer lowered their price objective on shares of Sweetgreen from $41.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Finally, UBS Group reduced their target price on Sweetgreen from $45.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.91.

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.