Sweetgreen, Inc. (NYSE:SG) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC trimmed its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 22.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,699 shares of the company’s stock after selling 4,870 shares during the period. Summit Trail Advisors LLC’s holdings in Sweetgreen were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC grew its position in Sweetgreen by 3.6% during the third quarter. Cerity Partners LLC now owns 57,258 shares of the company’s stock valued at $2,030,000 after buying an additional 1,997 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Sweetgreen by 8.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 830,249 shares of the company’s stock valued at $29,432,000 after acquiring an additional 64,205 shares during the period. Intech Investment Management LLC purchased a new position in shares of Sweetgreen in the 3rd quarter valued at about $1,045,000. Moors & Cabot Inc. acquired a new position in Sweetgreen in the 3rd quarter worth about $505,000. Finally, Segall Bryant & Hamill LLC purchased a new position in Sweetgreen during the third quarter worth approximately $6,191,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Sweetgreen Trading Down 1.6 %

Shares of NYSE SG opened at $43.27 on Wednesday. The business’s fifty day simple moving average is $37.13 and its 200-day simple moving average is $32.65. Sweetgreen, Inc. has a 12-month low of $9.21 and a 12-month high of $45.12. The stock has a market cap of $5.01 billion, a P/E ratio of -55.47 and a beta of 2.32.

Insider Activity

In other Sweetgreen news, insider Adrienne Gemperle sold 5,372 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $182,916.60. Following the sale, the insider now directly owns 107,313 shares in the company, valued at $3,654,007.65. This trade represents a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jonathan Neman sold 7,400 shares of Sweetgreen stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $28.81, for a total value of $213,194.00. Following the sale, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at $55,609,868.68. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,132 shares of company stock worth $5,993,464. 21.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SG. Piper Sandler reissued a “neutral” rating and issued a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. TD Cowen reaffirmed a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. Morgan Stanley raised their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, Oppenheimer raised their price objective on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.80.

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.