Bridgewater Associates LP Sells 56,612 Shares of Sweetgreen, Inc. (NYSE:SG)

Bridgewater Associates LP cut its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 42.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,433 shares of the company's stock after selling 56,612 shares during the quarter. Bridgewater Associates LP owned approximately 0.07% of Sweetgreen worth $2,674,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Sweetgreen by 47.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,041 shares of the company's stock valued at $1,391,000 after buying an additional 17,750 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Sweetgreen by 98.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,628 shares of the company's stock valued at $561,000 after acquiring an additional 9,238 shares during the last quarter. SG Americas Securities LLC grew its holdings in Sweetgreen by 1,101.2% during the second quarter. SG Americas Securities LLC now owns 69,176 shares of the company's stock worth $2,085,000 after acquiring an additional 63,417 shares during the period. Curated Wealth Partners LLC raised its position in shares of Sweetgreen by 175.0% in the second quarter. Curated Wealth Partners LLC now owns 54,103 shares of the company's stock worth $1,631,000 after acquiring an additional 126,241 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Sweetgreen in the second quarter valued at approximately $825,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SG has been the subject of several analyst reports. Piper Sandler reissued a "neutral" rating and issued a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. UBS Group boosted their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Bank of America boosted their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, August 19th. Citigroup upped their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, August 9th. Finally, Oppenheimer boosted their price objective on Sweetgreen from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.80.

Sweetgreen Stock Down 3.4 %

Shares of NYSE SG traded down $1.45 during midday trading on Friday, reaching $40.98. 1,460,897 shares of the company traded hands, compared to its average volume of 3,431,227. Sweetgreen, Inc. has a 12 month low of $9.31 and a 12 month high of $45.12. The stock's 50-day simple moving average is $37.69 and its 200-day simple moving average is $32.93.

Insiders Place Their Bets

In other news, CEO Jonathan Neman sold 14,745 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $663,525.00. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company's stock, valued at approximately $86,860,260. This represents a 0.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicolas Jammet sold 14,551 shares of Sweetgreen stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $654,795.00. Following the completion of the transaction, the insider now directly owns 1,930,233 shares of the company's stock, valued at approximately $86,860,485. This trade represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,892 shares of company stock valued at $7,499,763. Company insiders own 21.52% of the company's stock.

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.