Sweetgreen, Inc. (NYSE:SG) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP trimmed its position in shares of Sweetgreen, Inc. (NYSE:SG) by 42.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,433 shares of the company’s stock after selling 56,612 shares during the period. Bridgewater Associates LP’s holdings in Sweetgreen were worth $2,674,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SG. Hollencrest Capital Management purchased a new position in Sweetgreen in the third quarter valued at approximately $35,000. Quest Partners LLC purchased a new position in shares of Sweetgreen in the 2nd quarter valued at $76,000. KBC Group NV lifted its holdings in shares of Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after acquiring an additional 704 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Sweetgreen during the 3rd quarter worth $155,000. Finally, Canton Hathaway LLC acquired a new stake in Sweetgreen in the 3rd quarter valued at $177,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jonathan Neman sold 14,745 shares of the firm’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 $663,525.00. Following the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $86,860,260. This trade 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 $86,860,485. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,892 shares of company stock valued at $7,499,763 in the last quarter. Insiders own 21.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SG. Citigroup upped their target price on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Bank of America increased their price objective on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Morgan Stanley boosted their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. UBS Group raised their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Piper Sandler reissued a “neutral” rating and issued a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

Sweetgreen Stock Performance

NYSE:SG opened at $40.98 on Friday. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of -52.54 and a beta of 2.32. Sweetgreen, Inc. has a one year low of $9.31 and a one year high of $45.12. The stock has a 50-day simple moving average of $37.69 and a 200 day simple moving average of $32.93.

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.