Sweetgreen, Inc. (NYSE:SG) Position Reduced by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its position in shares of Sweetgreen, Inc. (NYSE:SG) by 12.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,959 shares of the company’s stock after selling 3,120 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sweetgreen were worth $814,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new stake in Sweetgreen during the third quarter worth approximately $35,000. Quest Partners LLC acquired a new position in Sweetgreen in the second quarter worth approximately $76,000. Atomi Financial Group Inc. acquired a new position in Sweetgreen in the third quarter worth approximately $216,000. Precision Wealth Strategies LLC acquired a new position in Sweetgreen in the third quarter worth approximately $227,000. Finally, LVW Advisors LLC acquired a new position in Sweetgreen in the third quarter worth approximately $229,000. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Up 0.9 %

Shares of NYSE:SG opened at $33.82 on Tuesday. The firm has a fifty day moving average of $36.35 and a two-hundred day moving average of $32.02. The firm has a market capitalization of $3.86 billion, a P/E ratio of -43.36 and a beta of 2.32. Sweetgreen, Inc. has a 12-month low of $9.21 and a 12-month high of $42.77.

Insider Buying and Selling at Sweetgreen

In related news, insider Nathaniel Ru sold 9,250 shares of Sweetgreen stock in a transaction on Monday, September 9th. The shares were sold at an average price of $28.74, for a total value of $265,845.00. Following the completion of the sale, the insider now owns 1,952,129 shares of the company’s stock, valued at approximately $56,104,187.46. The trade was a 0.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicolas Jammet sold 169,767 shares of Sweetgreen stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,565.59. Following the completion of the sale, the insider now directly owns 1,930,233 shares of the company’s stock, valued at approximately $69,044,434.41. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 441,715 shares of company stock valued at $15,856,543 in the last quarter. Company insiders own 21.52% of the company’s stock.

Wall Street Analysts Forecast Growth

SG has been the topic of several recent research reports. UBS Group lifted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Morgan Stanley lifted their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Bank of America lifted 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. TD Cowen reiterated a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Monday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $39.80.

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.