Sweetgreen, Inc. (NYSE:SG) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 9.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,147 shares of the company’s stock after selling 6,006 shares during the period. State of New Jersey Common Pension Fund D owned about 0.05% of Sweetgreen worth $2,026,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SG. Hollencrest Capital Management acquired a new position in shares of Sweetgreen during the 3rd quarter valued at $35,000. Moloney Securities Asset Management LLC raised its position in Sweetgreen by 40.0% in the third quarter. Moloney Securities Asset Management LLC now owns 11,900 shares of the company’s stock valued at $422,000 after purchasing an additional 3,400 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Sweetgreen by 670.0% during the third quarter. Harbor Capital Advisors Inc. now owns 143,441 shares of the company’s stock worth $5,085,000 after purchasing an additional 124,813 shares in the last quarter. Optas LLC lifted its stake in shares of Sweetgreen by 9.1% during the third quarter. Optas LLC now owns 16,778 shares of the company’s stock worth $595,000 after purchasing an additional 1,395 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in shares of Sweetgreen by 139.9% in the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after buying an additional 547,816 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Sweetgreen Trading Down 0.4 %

Shares of NYSE SG opened at $33.51 on Friday. The business has a 50 day simple moving average of $36.25 and a 200-day simple moving average of $31.85. Sweetgreen, Inc. has a twelve month low of $9.21 and a twelve month high of $42.77. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -42.96 and a beta of 2.32.

Insider Buying and Selling at Sweetgreen

In related news, CEO Jonathan Neman sold 169,772 shares of the company’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 transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $69,044,255.56. This represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bradley E. Singer sold 7,270 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $39.70, for a total transaction of $288,619.00. Following the transaction, the director now directly owns 181,782 shares of the company’s stock, valued at approximately $7,216,745.40. This trade represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 457,437 shares of company stock worth $16,381,658 over the last 90 days. Insiders own 21.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SG shares. Bank of America boosted their price target on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. UBS Group upped their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Citigroup lifted their price target on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. TD Cowen upped their price objective on shares of Sweetgreen from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Morgan Stanley lifted their target price on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.