Charles Schwab Investment Management Inc. Acquires 19,263 Shares of Sweetgreen, Inc. (NYSE:SG)

Charles Schwab Investment Management Inc. boosted its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 849,512 shares of the company's stock after buying an additional 19,263 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.73% of Sweetgreen worth $27,235,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its position in shares of Sweetgreen by 3,571.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after acquiring an additional 1,000 shares during the last quarter. Denver PWM LLC acquired a new stake in Sweetgreen during the 4th quarter valued at approximately $60,000. Wilmington Savings Fund Society FSB bought a new position in Sweetgreen during the 4th quarter worth approximately $62,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new position in shares of Sweetgreen in the 4th quarter worth approximately $77,000. Finally, KBC Group NV boosted its stake in shares of Sweetgreen by 29.1% in 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 during the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Stock Performance

Shares of Sweetgreen stock traded up $0.54 during trading hours on Friday, reaching $24.97. The company's stock had a trading volume of 3,278,337 shares, compared to its average volume of 3,085,504. The company has a market capitalization of $2.93 billion, a P/E ratio of -32.01 and a beta of 2.44. The stock's fifty day simple moving average is $27.46 and its two-hundred day simple moving average is $33.04. Sweetgreen, Inc. has a one year low of $18.77 and a one year high of $45.12.

Remove Ads

Wall Street Analyst Weigh In

SG has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Citigroup dropped their price objective on Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. UBS Group decreased their target price on Sweetgreen from $45.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Morgan Stanley dropped their price target on Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group cut 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. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $36.27.

Insider Buying and Selling

In related news, CFO Mitch Reback sold 8,109 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.84, for a total value of $193,318.56. Following the completion of the sale, the chief financial officer now directly owns 350,023 shares of the company's stock, valued at approximately $8,344,548.32. This represents a 2.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan Neman sold 5,717 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the transaction, the chief executive officer now owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,852 shares of company stock worth $1,052,177 in the last quarter. Insiders own 21.52% of the company's stock.

About Sweetgreen

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.