Charles Schwab Investment Management Inc. Has $29.43 Million Stake in Sweetgreen, Inc. (NYSE:SG)

Charles Schwab Investment Management Inc. increased its position in shares of Sweetgreen, Inc. (NYSE:SG) by 8.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 830,249 shares of the company’s stock after buying an additional 64,205 shares during the period. Charles Schwab Investment Management Inc. owned 0.73% of Sweetgreen worth $29,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Sweetgreen by 47.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 55,041 shares of the company’s stock valued at $1,391,000 after purchasing an additional 17,750 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Sweetgreen by 98.4% in the second quarter. Harbor Capital Advisors Inc. now owns 18,628 shares of the company’s stock valued at $561,000 after purchasing an additional 9,238 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Sweetgreen by 1,101.2% in the second quarter. SG Americas Securities LLC now owns 69,176 shares of the company’s stock valued at $2,085,000 after purchasing an additional 63,417 shares during the last quarter. Curated Wealth Partners LLC increased its holdings in shares of Sweetgreen by 175.0% in the second quarter. Curated Wealth Partners LLC now owns 54,103 shares of the company’s stock valued at $1,631,000 after purchasing an additional 126,241 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Sweetgreen in the second quarter valued at $825,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Stock Performance

NYSE:SG opened at $40.49 on Thursday. The company has a market capitalization of $4.68 billion, a PE ratio of -52.65 and a beta of 2.32. The company has a 50 day simple moving average of $37.80 and a two-hundred day simple moving average of $33.04. Sweetgreen, Inc. has a fifty-two week low of $9.59 and a fifty-two week high of $45.12.

Analyst Ratings Changes

SG has been the topic of several research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a research note on Friday, November 8th. Citigroup upped their price target on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Piper Sandler restated a “neutral” rating and issued a $39.00 price target (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Oppenheimer upped their price target on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, TD Cowen restated a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a research note on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.80.

Insiders Place Their Bets

In other news, CTO Wouleta Ayele sold 4,347 shares of Sweetgreen stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $148,015.35. Following the completion of the transaction, the chief technology officer now directly owns 140,302 shares in the company, valued at $4,777,283.10. This trade represents a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan Neman sold 14,745 shares of Sweetgreen stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $663,525.00. Following the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $86,860,260. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,892 shares of company stock worth $7,499,763. 21.52% of the stock is currently owned by company insiders.

Sweetgreen Company Profile

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.