UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Sweetgreen, Inc. (NYSE:SG - Free Report) by 8.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 191,276 shares of the company's stock after selling 16,713 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.17% of Sweetgreen worth $6,781,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in Sweetgreen by 1,101.2% during the 2nd quarter. SG Americas Securities LLC now owns 69,176 shares of the company's stock valued at $2,085,000 after purchasing an additional 63,417 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Sweetgreen in the 2nd quarter worth about $825,000. Legacy Capital Group California Inc. purchased a new position in Sweetgreen in the 2nd quarter worth about $972,000. Baillie Gifford & Co. lifted its stake in Sweetgreen by 6.2% during the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company's stock valued at $371,516,000 after acquiring an additional 721,740 shares during the period. Finally, Calamos Advisors LLC purchased a new stake in shares of Sweetgreen during the 2nd quarter valued at about $289,000. 95.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
SG has been the subject of several research reports. TD Cowen reaffirmed a "buy" rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. KeyCorp began coverage on Sweetgreen in a research note on Wednesday. They issued a "sector weight" rating for the company. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. UBS Group increased their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, Bank of America lifted their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the company a "buy" rating in a report on Monday, August 19th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $39.80.
Read Our Latest Stock Report on SG
Sweetgreen Stock Up 6.0 %
Shares of Sweetgreen stock traded up $2.21 during trading on Wednesday, reaching $38.81. The company's stock had a trading volume of 2,096,454 shares, compared to its average volume of 2,863,251. The company has a 50-day simple moving average of $38.20 and a two-hundred day simple moving average of $33.29. Sweetgreen, Inc. has a 1-year low of $9.66 and a 1-year high of $45.12. The company has a market cap of $4.49 billion, a price-to-earnings ratio of -46.92 and a beta of 2.32.
Insider Transactions at Sweetgreen
In other news, insider Nicolas Jammet sold 21,275 shares of the company's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $35.10, for a total value of $746,752.50. Following the sale, the insider now owns 1,930,233 shares in the company, valued at $67,751,178.30. This represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mitch Reback sold 72,000 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $37.77, for a total value of $2,719,440.00. Following the sale, the chief financial officer now directly owns 43,901 shares in the company, valued at approximately $1,658,140.77. This trade represents a 62.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 508,934 shares of company stock worth $19,722,939. Company insiders own 21.52% of the company's stock.
About Sweetgreen
(
Free Report)
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.
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