Pathstone Holdings LLC Sells 4,629 Shares of Sweetgreen, Inc. (NYSE:SG)

Pathstone Holdings LLC reduced its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 1.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 324,967 shares of the company’s stock after selling 4,629 shares during the period. Pathstone Holdings LLC owned about 0.28% of Sweetgreen worth $11,520,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oliver Luxxe Assets LLC purchased a new stake in shares of Sweetgreen during the 3rd quarter valued at approximately $1,973,000. GLOBALT Investments LLC GA purchased a new stake in shares of Sweetgreen during the 3rd quarter valued at approximately $591,000. Sei Investments Co. purchased a new stake in shares of Sweetgreen during the 1st quarter valued at approximately $1,110,000. Davidson Kempner Capital Management LP lifted its stake in shares of Sweetgreen by 40.1% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock valued at $17,330,000 after buying an additional 164,600 shares in the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new stake in shares of Sweetgreen during the 3rd quarter valued at approximately $3,329,000. 95.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SG. TD Cowen restated a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a research note on Monday. Piper Sandler reiterated a “neutral” rating and issued a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research note on Friday, November 8th. Morgan Stanley increased their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, Oppenheimer increased their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

Insider Activity at Sweetgreen

In other Sweetgreen news, insider Nicolas Jammet sold 16,751 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $40.04, for a total value of $670,710.04. Following the sale, the insider now owns 1,930,233 shares of the company’s stock, valued at $77,286,529.32. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Neman sold 169,772 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $69,044,255.56. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 503,671 shares of company stock valued at $18,138,774. Insiders own 21.52% of the company’s stock.

Sweetgreen Stock Performance

SG stock opened at $37.91 on Thursday. Sweetgreen, Inc. has a 52 week low of $9.21 and a 52 week high of $42.77. The firm’s fifty day moving average is $36.62 and its 200 day moving average is $32.17. The firm has a market cap of $4.39 billion, a P/E ratio of -48.60 and a beta of 2.32.

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.