Cerity Partners LLC Boosts Stake in Sweetgreen, Inc. (NYSE:SG)

Cerity Partners LLC boosted its position in shares of Sweetgreen, Inc. (NYSE:SG) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,258 shares of the company’s stock after acquiring an additional 1,997 shares during the period. Cerity Partners LLC’s holdings in Sweetgreen were worth $2,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SG. Hollencrest Capital Management bought a new position in Sweetgreen in the 3rd quarter worth approximately $35,000. Quest Partners LLC bought a new position in shares of Sweetgreen in the 2nd quarter valued at about $76,000. KBC Group NV boosted 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 worth $111,000 after purchasing an additional 704 shares during the period. Atomi Financial Group Inc. purchased a new position in Sweetgreen during the third quarter worth $216,000. Finally, Versor Investments LP bought a new position in Sweetgreen during the 2nd quarter valued at about $217,000. 95.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Piper Sandler reissued a “neutral” rating and set a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Bank of America raised their price target on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. UBS Group lifted their price objective 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, Citigroup upped their target price on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sweetgreen has an average rating of “Moderate Buy” and a consensus price target of $39.80.

Sweetgreen Trading Down 3.4 %

Shares of SG stock opened at $40.98 on Monday. The firm has a fifty day moving average price of $37.69 and a 200 day moving average price of $32.93. The company has a market cap of $4.74 billion, a P/E ratio of -52.54 and a beta of 2.32. Sweetgreen, Inc. has a 12 month low of $9.31 and a 12 month high of $45.12.

Insider Activity

In other Sweetgreen news, insider Nicolas Jammet sold 14,551 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $654,795.00. Following the completion of the transaction, the insider now owns 1,930,233 shares in the company, valued at approximately $86,860,485. This represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jonathan Neman sold 1,010 shares of Sweetgreen stock in a transaction on Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $40,410.10. Following the transaction, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $77,228,422.28. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 197,892 shares of company stock valued at $7,499,763. Insiders own 21.52% of the company’s stock.

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.