Geode Capital Management LLC Acquires 116,243 Shares of Sweetgreen, Inc. (NYSE:SG)

Geode Capital Management LLC raised its holdings in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,249,409 shares of the company's stock after buying an additional 116,243 shares during the quarter. Geode Capital Management LLC owned about 1.97% of Sweetgreen worth $79,757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Essex Investment Management Co. LLC raised its position in shares of Sweetgreen by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company's stock valued at $3,993,000 after buying an additional 314 shares in the last quarter. Evolutionary Tree Capital Management LLC increased its stake in Sweetgreen by 0.7% in the second quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company's stock valued at $1,982,000 after acquiring an additional 474 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Sweetgreen by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company's stock valued at $990,000 after purchasing an additional 537 shares in the last quarter. KBC Group NV raised its position in Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company's stock valued at $111,000 after purchasing an additional 704 shares in the last quarter. Finally, Pier Capital LLC lifted its stake in Sweetgreen by 0.3% during the third quarter. Pier Capital LLC now owns 293,333 shares of the company's stock worth $10,399,000 after purchasing an additional 761 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SG. TD Cowen reaffirmed a "buy" rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. The Goldman Sachs Group restated a "neutral" rating and set a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. KeyCorp initiated coverage on Sweetgreen in a report on Wednesday, December 11th. They issued a "sector weight" rating on the stock. Oppenheimer increased their target price on Sweetgreen from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, UBS Group raised their price target on Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $39.80.

Insider Transactions at Sweetgreen

In other news, CFO Mitch Reback sold 72,000 shares of the company's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $37.77, for a total transaction of $2,719,440.00. Following the transaction, the chief financial officer now directly owns 43,901 shares of the company's stock, valued at $1,658,140.77. This represents a 62.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicolas Jammet sold 170,199 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $37.73, for a total value of $6,421,608.27. Following the sale, the insider now directly owns 1,760,034 shares in the company, valued at $66,406,082.82. This trade represents a 8.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 640,838 shares of company stock valued at $24,800,733. Insiders own 21.52% of the company's stock.

Sweetgreen Price Performance

NYSE:SG traded up $0.37 during mid-day trading on Friday, hitting $35.10. 2,715,613 shares of the company's stock were exchanged, compared to its average volume of 2,855,537. The company has a market cap of $4.06 billion, a PE ratio of -45.00 and a beta of 2.32. Sweetgreen, Inc. has a one year low of $9.66 and a one year high of $45.12. The business has a fifty day moving average price of $38.16 and a 200 day moving average price of $33.54.

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.