Raymond James Financial Inc. Buys Shares of 70,643 Sweetgreen, Inc. (NYSE:SG)

Raymond James Financial Inc. acquired a new stake in shares of Sweetgreen, Inc. (NYSE:SG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 70,643 shares of the company’s stock, valued at approximately $2,265,000.

Several other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its position in Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after buying an additional 1,000 shares during the last quarter. Denver PWM LLC purchased a new stake in Sweetgreen in the 4th quarter worth $60,000. Wilmington Savings Fund Society FSB purchased a new position in Sweetgreen in the 4th quarter valued at about $62,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new position in shares of Sweetgreen in the fourth quarter valued at approximately $77,000. Finally, Sachetta LLC grew its holdings in shares of Sweetgreen by 37.6% during the fourth quarter. Sachetta LLC now owns 4,324 shares of the company’s stock worth $139,000 after buying an additional 1,182 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SG. The Goldman Sachs Group cut their target price on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Citigroup reduced their price target on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. KeyCorp assumed coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $45.00 price target on shares of Sweetgreen in a research note on Tuesday, February 25th. Finally, UBS Group reduced their target price on Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and a consensus target price of $36.27.

Insiders Place Their Bets

In related news, COO Rossann Williams sold 4,977 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $118,452.60. Following the completion of the sale, the chief operating officer now directly owns 95,516 shares of the company’s stock, valued at $2,273,280.80. This trade represents a 4.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mitch Reback sold 8,000 shares of Sweetgreen stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total value of $265,040.00. Following the completion of the sale, the chief financial officer now directly owns 350,981 shares of the company’s stock, valued at $11,628,000.53. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,852 shares of company stock worth $1,052,177 in the last ninety days. Insiders own 21.52% of the company’s stock.

Sweetgreen Price Performance

NYSE SG opened at $25.58 on Monday. The firm has a market cap of $3.00 billion, a P/E ratio of -32.79 and a beta of 2.44. The stock’s 50-day moving average is $26.62 and its two-hundred day moving average is $32.92. Sweetgreen, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $45.12.

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.