Fmr LLC Sells 1,195,956 Shares of Sweetgreen, Inc. (NYSE:SG)

FMR LLC lessened its holdings in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 10.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,774,180 shares of the company's stock after selling 1,195,956 shares during the quarter. FMR LLC owned about 8.56% of Sweetgreen worth $346,495,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Sweetgreen by 47.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 55,041 shares of the company's stock worth $1,391,000 after acquiring an additional 17,750 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Sweetgreen by 98.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,628 shares of the company's stock valued at $561,000 after buying an additional 9,238 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Sweetgreen by 1,101.2% during the second quarter. SG Americas Securities LLC now owns 69,176 shares of the company's stock valued at $2,085,000 after buying an additional 63,417 shares during the period. Curated Wealth Partners LLC lifted its holdings 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 buying an additional 126,241 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Sweetgreen in the second quarter worth about $825,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Price Performance

The firm's 50 day moving average price is $37.69 and its 200-day moving average price is $32.93. The company has a market cap of $4.74 billion, a price-to-earnings ratio of -52.54 and a beta of 2.32. Sweetgreen, Inc. has a 1 year low of $9.31 and a 1 year high of $45.12.

Insider Buying and Selling at Sweetgreen

In other news, CEO Jonathan Neman sold 7,400 shares of Sweetgreen stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $28.81, for a total value of $213,194.00. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $55,609,868.68. The trade was a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicolas Jammet sold 14,551 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.00, for a total value of $654,795.00. Following the completion of the sale, 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. Insiders have sold 197,892 shares of company stock worth $7,499,763 over the last ninety days. Insiders own 21.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the company an "equal weight" rating in a research note on Friday, August 9th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. UBS Group lifted their price objective on Sweetgreen from $37.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, November 8th. TD Cowen restated a "buy" rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. Finally, Citigroup lifted their price target on Sweetgreen from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Sweetgreen currently has a consensus rating of "Moderate Buy" and an average price target of $39.80.

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.