Sweetgreen, Inc. (NYSE:SG) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 8.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 191,276 shares of the company’s stock after selling 16,713 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.17% of Sweetgreen worth $6,781,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SG. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Sweetgreen by 8.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,841 shares of the company’s stock worth $881,000 after acquiring an additional 1,950 shares during the period. FORA Capital LLC raised its holdings in shares of Sweetgreen by 49.7% during the 3rd quarter. FORA Capital LLC now owns 55,775 shares of the company’s stock worth $1,977,000 after acquiring an additional 18,512 shares during the period. Quantbot Technologies LP raised its holdings in shares of Sweetgreen by 2,296.6% during the 3rd quarter. Quantbot Technologies LP now owns 52,175 shares of the company’s stock worth $1,850,000 after acquiring an additional 49,998 shares during the period. Canton Hathaway LLC purchased a new position in shares of Sweetgreen during the 3rd quarter worth $177,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Sweetgreen during the 3rd quarter worth $155,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Price Performance

Shares of NYSE:SG opened at $36.60 on Wednesday. The firm has a market capitalization of $4.23 billion, a PE ratio of -46.92 and a beta of 2.32. The firm’s 50-day moving average is $38.20 and its two-hundred day moving average is $33.29. Sweetgreen, Inc. has a 1 year low of $9.66 and a 1 year high of $45.12.

Wall Street Analyst Weigh In

Several research firms have recently commented on SG. Bank of America lifted their price target on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. Piper Sandler restated a “neutral” rating and issued a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Oppenheimer boosted their price objective on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, UBS Group boosted their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Sweetgreen has a consensus rating of “Moderate Buy” and an average price target of $39.80.

Insider Transactions at Sweetgreen

In related news, insider Nicolas Jammet sold 33,598 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $40.14, for a total value of $1,348,623.72. Following the completion of the transaction, the insider now directly owns 1,930,233 shares of the company’s stock, valued at $77,479,552.62. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jonathan Neman sold 17,020 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $35.08, for a total value of $597,061.60. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at $67,712,398.24. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 332,088 shares of company stock valued at $12,951,071. 21.52% of the stock is currently owned by corporate insiders.

Sweetgreen 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.