Wells Fargo & Company MN Grows Stock Position in Sweetgreen, Inc. (NYSE:SG)

Wells Fargo & Company MN lifted its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 44.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,212 shares of the company's stock after buying an additional 30,022 shares during the quarter. Wells Fargo & Company MN owned about 0.08% of Sweetgreen worth $3,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Sweetgreen by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company's stock worth $306,009,000 after buying an additional 351,240 shares in the last quarter. Wellington Management Group LLP grew its position in Sweetgreen by 30.1% during the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company's stock worth $142,106,000 after purchasing an additional 1,025,341 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company's stock valued at $82,032,000 after purchasing an additional 272,340 shares during the period. Geode Capital Management LLC increased its holdings in Sweetgreen by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 2,281,671 shares of the company's stock valued at $73,167,000 after buying an additional 32,262 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Sweetgreen during the fourth quarter worth $52,558,000. Institutional investors own 95.75% of the company's stock.

Insider Buying and Selling at Sweetgreen

In other news, Director Nathaniel Ru sold 2,123 shares of Sweetgreen stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the sale, the director now directly owns 1,785,099 shares in the company, valued at $42,485,356.20. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mitch Reback sold 4,000 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $21.07, for a total value of $84,280.00. Following the completion of the sale, the chief financial officer now owns 344,509 shares of the company's stock, valued at $7,258,804.63. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,852 shares of company stock valued at $871,417. 21.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SG. UBS Group dropped their price objective on Sweetgreen from $45.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group lowered their price target on Sweetgreen from $37.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Oppenheimer lowered their price objective on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Piper Sandler dropped their target price on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley set a $24.00 price target on Sweetgreen in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $35.91.

Sweetgreen Stock Performance

Shares of NYSE SG traded up $0.14 during trading hours on Friday, reaching $19.26. 5,286,485 shares of the stock were exchanged, compared to its average volume of 3,348,844. The stock's fifty day simple moving average is $22.51 and its 200 day simple moving average is $30.72. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -24.69 and a beta of 2.28. Sweetgreen, Inc. has a 52 week low of $16.29 and a 52 week high of $45.12.

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.