State of New Jersey Common Pension Fund D Has $1.78 Million Holdings in Sweetgreen, Inc. (NYSE:SG)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,401 shares of the company’s stock after selling 1,746 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Sweetgreen were worth $1,776,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Csenge Advisory Group bought a new stake in Sweetgreen during the fourth quarter worth $426,000. Rhumbline Advisers boosted its holdings in shares of Sweetgreen by 2.6% during the fourth quarter. Rhumbline Advisers now owns 138,002 shares of the company’s stock worth $4,424,000 after acquiring an additional 3,562 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of Sweetgreen during the fourth quarter worth approximately $214,000. Fishman Jay A Ltd. MI lifted its holdings in Sweetgreen by 7.7% during the 4th quarter. Fishman Jay A Ltd. MI now owns 12,525 shares of the company’s stock worth $402,000 after purchasing an additional 900 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Sweetgreen in the 4th quarter valued at $62,000. Institutional investors own 95.75% of the company’s stock.

Insider Activity at Sweetgreen

In other Sweetgreen news, insider Nicolas Jammet sold 41,999 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.68, for a total value of $1,624,521.32. Following the completion of the sale, the insider now directly owns 1,930,233 shares in the company, valued at approximately $74,661,412.44. This trade represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jonathan Neman sold 41,805 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.61, for a total value of $1,614,091.05. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at $74,526,103.08. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 516,817 shares of company stock worth $19,677,637 in the last 90 days. Corporate insiders own 21.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. KeyCorp initiated coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $45.00 target price on shares of Sweetgreen in a research report on Tuesday. 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. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a research note on Friday, November 8th. Finally, TD Cowen restated a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Sweetgreen Trading Down 1.2 %

Shares of Sweetgreen stock opened at $22.34 on Wednesday. The business has a 50-day moving average price of $30.67 and a two-hundred day moving average price of $34.32. Sweetgreen, Inc. has a 1-year low of $11.21 and a 1-year high of $45.12. The company has a market cap of $2.58 billion, a P/E ratio of -28.64 and a beta of 2.37.

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.