Oppenheimer & Co. Inc. Grows Stock Position in Sweetgreen, Inc. (NYSE:SG)

Oppenheimer & Co. Inc. grew its holdings in Sweetgreen, Inc. (NYSE:SG) by 9.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,483 shares of the company’s stock after acquiring an additional 2,380 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Sweetgreen were worth $939,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Sei Investments Co. acquired a new stake in shares of Sweetgreen during the first quarter worth $1,110,000. ProShare Advisors LLC raised its position in Sweetgreen by 9.9% during the 1st quarter. ProShare Advisors LLC now owns 17,584 shares of the company’s stock worth $444,000 after buying an additional 1,585 shares during the last quarter. Blair William & Co. IL lifted its stake in Sweetgreen by 26.8% during the 1st quarter. Blair William & Co. IL now owns 13,140 shares of the company’s stock valued at $332,000 after acquiring an additional 2,774 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Sweetgreen by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock valued at $212,713,000 after acquiring an additional 70,395 shares during the last quarter. Finally, Teca Partners LP increased its stake in shares of Sweetgreen by 2.6% in the first quarter. Teca Partners LP now owns 769,200 shares of the company’s stock worth $19,430,000 after acquiring an additional 19,172 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SG shares. Bank of America boosted their price target on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. UBS Group increased their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. TD Cowen reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a report on Monday. Piper Sandler reissued a “neutral” rating and set a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Finally, Citigroup upped their price target on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Sweetgreen has an average rating of “Moderate Buy” and an average price target of $39.80.

Sweetgreen Stock Performance

Shares of Sweetgreen stock opened at $37.89 on Wednesday. The business’s 50 day moving average price is $36.50 and its 200 day moving average price is $32.13. The company has a market cap of $4.38 billion, a price-to-earnings ratio of -48.58 and a beta of 2.32. Sweetgreen, Inc. has a one year low of $9.21 and a one year high of $42.77.

Insider Activity at Sweetgreen

In related news, insider Nicolas Jammet sold 169,767 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,565.59. Following the completion of the transaction, the insider now owns 1,930,233 shares of the company’s stock, valued at approximately $69,044,434.41. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan Neman sold 20,937 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.03, for a total value of $838,108.11. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $77,267,026.84. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 460,941 shares of company stock worth $16,511,188. Insiders own 21.52% of the company’s stock.

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.