Sweetgreen, Inc. (NYSE:SG) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its position in Sweetgreen, Inc. (NYSE:SG) by 5.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,249,409 shares of the company’s stock after acquiring an additional 116,243 shares during the period. Geode Capital Management LLC owned approximately 1.97% of Sweetgreen worth $79,757,000 at the end of the most recent reporting period.

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

Sweetgreen Stock Performance

Shares of SG opened at $35.10 on Friday. Sweetgreen, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $45.12. The company has a market capitalization of $4.06 billion, a PE ratio of -45.00 and a beta of 2.32. The stock has a fifty day moving average of $38.16 and a two-hundred day moving average of $33.54.

Insider Buying and Selling

In other news, CFO Mitch Reback sold 9,507 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $323,713.35. Following the transaction, the chief financial officer now directly owns 360,177 shares in the company, valued at $12,264,026.85. This trade represents a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jonathan Neman sold 14,745 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $663,525.00. Following the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $86,860,260. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 640,838 shares of company stock worth $24,800,733. 21.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SG. Oppenheimer boosted their price target on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. UBS Group boosted their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. KeyCorp began coverage on Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating for the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Finally, TD Cowen restated a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.80.

About Sweetgreen

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.