Wilmington Savings Fund Society FSB Buys New Shares in Sweetgreen, Inc. (NYSE:SG)

Wilmington Savings Fund Society FSB purchased a new position in shares of Sweetgreen, Inc. (NYSE:SG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,926 shares of the company’s stock, valued at approximately $62,000.

A number of other large investors have also recently added to or reduced their stakes in SG. AQR Capital Management LLC acquired a new stake in Sweetgreen in the 2nd quarter valued at about $346,000. Creative Planning raised its stake in Sweetgreen by 61.7% in the third quarter. Creative Planning now owns 11,439 shares of the company’s stock valued at $406,000 after buying an additional 4,364 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Sweetgreen by 13.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,258,484 shares of the company’s stock valued at $44,613,000 after buying an additional 148,684 shares during the last quarter. Precision Wealth Strategies LLC bought a new position in shares of Sweetgreen during the 3rd quarter worth approximately $227,000. Finally, Brighton Jones LLC acquired a new position in shares of Sweetgreen during the 3rd quarter worth approximately $292,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. UBS Group raised their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Oppenheimer reduced their target price on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. KeyCorp assumed coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Morgan Stanley cut their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Finally, Citigroup decreased their target price on Sweetgreen from $49.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.60.

Sweetgreen Price Performance

Shares of NYSE:SG opened at $27.24 on Friday. The company has a market capitalization of $3.15 billion, a P/E ratio of -34.92 and a beta of 2.37. The business’s 50 day simple moving average is $32.78 and its 200 day simple moving average is $34.40. Sweetgreen, Inc. has a 1 year low of $10.93 and a 1 year high of $45.12.

Insider Activity

In other news, CFO Mitch Reback sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total transaction of $265,040.00. Following the completion of the sale, the chief financial officer now owns 350,981 shares of the company’s stock, valued at approximately $11,628,000.53. This represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the completion of the transaction, the insider now directly owns 1,760,034 shares in the company, valued at $66,406,082.82. This trade represents a 8.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 601,607 shares of company stock worth $23,177,393. 21.52% of the stock is currently owned by company insiders.

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.