Sweetgreen, Inc. (NYSE:SG) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its stake in Sweetgreen, Inc. (NYSE:SG) by 12.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,959 shares of the company’s stock after selling 3,120 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sweetgreen were worth $814,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in shares of Sweetgreen during the third quarter valued at about $35,000. Quest Partners LLC acquired a new stake in shares of Sweetgreen during the second quarter valued at about $76,000. Atomi Financial Group Inc. acquired a new stake in shares of Sweetgreen during the third quarter valued at about $216,000. Versor Investments LP acquired a new stake in shares of Sweetgreen during the second quarter valued at about $217,000. Finally, Precision Wealth Strategies LLC acquired a new stake in shares of Sweetgreen during the third quarter valued at about $227,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on SG shares. Bank of America raised their target price on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. TD Cowen reiterated a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a research note on Monday. UBS Group lifted their price target on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Oppenheimer lifted 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. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

Sweetgreen Stock Up 0.9 %

Shares of NYSE SG opened at $33.82 on Tuesday. The firm’s 50-day moving average price is $36.35 and its two-hundred day moving average price is $32.02. Sweetgreen, Inc. has a 52-week low of $9.21 and a 52-week high of $42.77. The stock has a market capitalization of $3.86 billion, a P/E ratio of -43.36 and a beta of 2.32.

Insiders Place Their Bets

In other news, insider Nathaniel Ru sold 9,250 shares of Sweetgreen stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $28.74, for a total transaction of $265,845.00. Following the sale, the insider now owns 1,952,129 shares of the company’s stock, valued at approximately $56,104,187.46. The trade was a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bradley E. Singer sold 7,270 shares of Sweetgreen stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $39.70, for a total value of $288,619.00. Following the sale, the director now directly owns 181,782 shares in the company, valued at approximately $7,216,745.40. This trade represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 441,715 shares of company stock valued at $15,856,543 over the last quarter. Insiders own 21.52% of the company’s stock.

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.