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

Oppenheimer & Co. Inc. grew its holdings in Sweetgreen, Inc. (NYSE:SG) by 9.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 26,483 shares of the company’s stock after buying an additional 2,380 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Sweetgreen were worth $939,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Hollencrest Capital Management purchased a new position in Sweetgreen in the third quarter worth approximately $35,000. Quest Partners LLC purchased a new stake in shares of Sweetgreen during the 2nd quarter worth $76,000. Atomi Financial Group Inc. acquired a new position in shares of Sweetgreen during the third quarter worth $216,000. Versor Investments LP purchased a new position in Sweetgreen in the second quarter valued at $217,000. Finally, Precision Wealth Strategies LLC acquired a new stake in Sweetgreen in the third quarter valued at $227,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Performance

NYSE SG opened at $37.89 on Wednesday. The firm’s fifty day moving average is $36.50 and its two-hundred day moving average is $32.13. Sweetgreen, Inc. has a one year low of $9.21 and a one year high of $42.77. The firm has a market cap of $4.38 billion, a PE ratio of -48.58 and a beta of 2.32.

Insider Buying and Selling

In other news, insider Nicolas Jammet sold 169,767 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,565.59. Following the completion of the sale, the insider now owns 1,930,233 shares in the company, valued at approximately $69,044,434.41. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Wouleta Ayele sold 4,347 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.05, for a total transaction of $148,015.35. Following the transaction, the chief technology officer now owns 140,302 shares in the company, valued at approximately $4,777,283.10. This trade represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 460,941 shares of company stock valued at $16,511,188 over the last quarter. 21.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SG. Citigroup increased their price objective on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Morgan Stanley raised their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Bank of America upped their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. UBS Group lifted 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. Finally, TD Cowen restated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Monday. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.