Oppenheimer Asset Management Inc. Acquires 2,737 Shares of Sweetgreen, Inc. (NYSE:SG)

Oppenheimer Asset Management Inc. lifted its holdings in Sweetgreen, Inc. (NYSE:SG) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,696 shares of the company’s stock after buying an additional 2,737 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sweetgreen were worth $824,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in shares of Sweetgreen in the 3rd quarter worth about $35,000. Denver PWM LLC bought a new position in Sweetgreen during the 4th quarter valued at about $60,000. Wilmington Savings Fund Society FSB bought a new position in Sweetgreen during the 4th quarter valued at about $62,000. KBC Group NV grew its holdings in Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in Sweetgreen by 68.4% during the 3rd quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock valued at $151,000 after purchasing an additional 1,728 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors.

Insider Transactions at Sweetgreen

In other news, CEO Jonathan Neman sold 33,444 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $40.16, for a total value of $1,343,111.04. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $77,517,956.48. This represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mitch Reback sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total transaction of $265,040.00. Following the completion of the sale, the chief financial officer now directly owns 350,981 shares of the company’s stock, valued at $11,628,000.53. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 433,013 shares of company stock valued at $16,439,025. Company insiders own 21.52% of the company’s stock.

Sweetgreen Stock Performance

Shares of SG opened at $21.43 on Wednesday. The company has a 50 day moving average price of $29.52 and a 200-day moving average price of $33.87. Sweetgreen, Inc. has a fifty-two week low of $17.26 and a fifty-two week high of $45.12. The stock has a market capitalization of $2.48 billion, a PE ratio of -27.47 and a beta of 2.37.

Wall Street Analysts Forecast Growth

SG has been the topic of several analyst reports. Oppenheimer cut their price target on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Piper Sandler cut their price target on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Morgan Stanley cut their price target on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. TD Securities cut their price target on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, UBS Group dropped their target price on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Sweetgreen currently has a consensus rating of “Moderate Buy” and an average price target of $36.27.

Sweetgreen Company 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.