Sweetgreen, Inc. (NYSE:SG) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Sweetgreen, Inc. (NYSE:SG) by 8.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,276 shares of the company’s stock after selling 16,713 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Sweetgreen were worth $6,781,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SG. Oliver Luxxe Assets LLC purchased a new stake in Sweetgreen in the third quarter valued at approximately $1,973,000. GLOBALT Investments LLC GA purchased a new stake in Sweetgreen in the third quarter valued at approximately $591,000. Davidson Kempner Capital Management LP lifted its stake in Sweetgreen by 40.1% in the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock valued at $17,330,000 after buying an additional 164,600 shares during the last quarter. Zweig DiMenna Associates LLC purchased a new stake in Sweetgreen in the third quarter valued at approximately $3,329,000. Finally, Stephens Investment Management Group LLC lifted its stake in Sweetgreen by 139.9% in the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after buying an additional 547,816 shares during the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Stock Performance

Sweetgreen stock opened at $36.60 on Wednesday. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of -46.92 and a beta of 2.32. Sweetgreen, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $45.12. The stock’s fifty day moving average is $38.20 and its two-hundred day moving average is $33.29.

Insider Buying and Selling at Sweetgreen

In related news, CEO Jonathan Neman sold 33,444 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $40.16, for a total transaction of $1,343,111.04. Following the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $77,517,956.48. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mitch Reback sold 9,507 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $323,713.35. Following the sale, the chief financial officer now directly owns 360,177 shares in the company, valued at approximately $12,264,026.85. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 332,088 shares of company stock valued at $12,951,071. Insiders own 21.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. UBS Group upped 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. Bank of America upped their price target on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Oppenheimer increased their price objective on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. TD Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. Finally, 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. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock 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.