Vanguard Group Inc. Grows Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Vanguard Group Inc. increased its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,544,885 shares of the company's stock after buying an additional 351,240 shares during the period. Vanguard Group Inc. owned 8.25% of Sweetgreen worth $306,009,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SG. Steward Partners Investment Advisory LLC grew its position in shares of 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 buying an additional 1,000 shares during the period. Millstone Evans Group LLC bought a new stake in Sweetgreen in the fourth quarter valued at $53,000. Denver PWM LLC acquired a new position in shares of Sweetgreen during the fourth quarter valued at about $60,000. Wilmington Savings Fund Society FSB bought a new position in shares of Sweetgreen during the 4th quarter worth about $62,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in shares of Sweetgreen in the 4th quarter valued at about $77,000. Institutional investors and hedge funds own 95.75% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on SG. Piper Sandler reduced their price objective 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 decreased their price target on shares of Sweetgreen from $45.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Oppenheimer decreased their target price 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, KeyCorp began coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a "sector weight" rating for the company. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $36.27.

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Insider Buying and Selling

In other Sweetgreen news, CEO Jonathan Neman sold 5,717 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the sale, the chief executive officer now directly owns 1,810,263 shares in the company, valued at $43,084,259.40. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mitch Reback sold 8,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total value of $265,040.00. Following the transaction, the chief financial officer now owns 350,981 shares of the company's stock, valued at $11,628,000.53. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,852 shares of company stock valued at $1,052,177. 21.52% of the stock is owned by insiders.

Sweetgreen Stock Performance

NYSE:SG traded down $1.64 during trading on Friday, reaching $20.88. The company's stock had a trading volume of 7,214,138 shares, compared to its average volume of 3,198,018. Sweetgreen, Inc. has a 12 month low of $18.62 and a 12 month high of $45.12. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -26.76 and a beta of 2.28. The firm has a 50 day moving average of $25.95 and a 200-day moving average of $32.58.

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.