Sweetgreen, Inc. (NYSE:SG) Shares Sold by Algert Global LLC

Algert Global LLC cut its stake in Sweetgreen, Inc. (NYSE:SG) by 34.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,033 shares of the company’s stock after selling 32,255 shares during the period. Algert Global LLC’s holdings in Sweetgreen were worth $2,199,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SG. Vanguard Group Inc. increased its position in Sweetgreen by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock worth $212,713,000 after purchasing an additional 70,395 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Sweetgreen by 47.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,041 shares of the company’s stock worth $1,391,000 after buying an additional 17,750 shares during the last quarter. Bayesian Capital Management LP grew its holdings in Sweetgreen by 120.2% in the 1st quarter. Bayesian Capital Management LP now owns 27,665 shares of the company’s stock valued at $699,000 after buying an additional 15,100 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of Sweetgreen by 5.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 309,630 shares of the company’s stock valued at $7,821,000 after acquiring an additional 14,948 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Sweetgreen by 98.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,628 shares of the company’s stock worth $561,000 after acquiring an additional 9,238 shares during the period. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on SG. Bank of America upped their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Citigroup increased their target price on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Oppenheimer boosted their price target on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. Finally, UBS Group lifted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

Sweetgreen Stock Down 1.6 %

NYSE SG opened at $43.27 on Wednesday. Sweetgreen, Inc. has a fifty-two week low of $9.21 and a fifty-two week high of $45.12. The business has a 50 day moving average price of $37.13 and a two-hundred day moving average price of $32.65. The stock has a market cap of $5.01 billion, a PE ratio of -55.47 and a beta of 2.32.

Insider Transactions at Sweetgreen

In other news, insider Nicolas Jammet sold 16,751 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $40.04, for a total transaction of $670,710.04. Following the completion of the sale, the insider now directly owns 1,930,233 shares in the company, valued at $77,286,529.32. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bradley E. Singer sold 42,730 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $38.09, for a total value of $1,627,585.70. Following the completion of the transaction, the director now owns 139,052 shares in the company, valued at approximately $5,296,490.68. This trade represents a 23.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,132 shares of company stock valued at $5,993,464. Corporate 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.