Sweetgreen, Inc. (NYSE:SG) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 37.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 671,045 shares of the company's stock after acquiring an additional 181,805 shares during the quarter. JPMorgan Chase & Co. owned 0.58% of Sweetgreen worth $23,789,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SG. GLOBALT Investments LLC GA purchased a new stake in shares of Sweetgreen during the 3rd quarter worth about $591,000. Oliver Luxxe Assets LLC acquired a new position in shares of Sweetgreen during the 3rd quarter worth approximately $1,973,000. Verition Fund Management LLC grew its holdings in Sweetgreen by 189.6% in the 3rd quarter. Verition Fund Management LLC now owns 173,501 shares of the company's stock valued at $6,151,000 after buying an additional 113,586 shares in the last quarter. Davidson Kempner Capital Management LP raised its holdings in shares of Sweetgreen by 40.1% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company's stock worth $17,330,000 after acquiring an additional 164,600 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new position in Sweetgreen during the third quarter worth about $3,329,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

Wall Street Analyst Weigh In

SG has been the topic of several research analyst reports. The Goldman Sachs Group restated a "neutral" rating and issued a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. TD Cowen restated a "buy" rating and set a $45.00 price target on shares of Sweetgreen in a research note on Monday, November 18th. Oppenheimer lowered their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Tuesday. KeyCorp initiated coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They set a "sector weight" rating on the stock. Finally, UBS Group boosted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.40.

Insider Buying and Selling

In other news, insider Nicolas Jammet sold 170,199 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $37.73, for a total value of $6,421,608.27. Following the completion of the sale, the insider now directly owns 1,760,034 shares of the company's stock, valued at approximately $66,406,082.82. The trade was a 8.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Neman sold 1,010 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $40,410.10. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at $77,228,422.28. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 640,838 shares of company stock worth $24,800,733 over the last 90 days. 21.52% of the stock is owned by insiders.

Sweetgreen Stock Performance

Shares of NYSE:SG traded up $0.24 on Thursday, hitting $32.18. 2,293,797 shares of the company's stock were exchanged, compared to its average volume of 2,428,699. Sweetgreen, Inc. has a 1-year low of $9.66 and a 1-year high of $45.12. The company has a market capitalization of $3.72 billion, a PE ratio of -41.26 and a beta of 2.38. The firm's 50-day moving average is $36.87 and its 200 day moving average is $33.59.

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.