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

State of New Jersey Common Pension Fund D lowered its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 9.5% during the 3rd quarter, Holdings Channel reports. The fund 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’s holdings in Sweetgreen were worth $2,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SG. Hollencrest Capital Management bought a new position in shares of Sweetgreen in the third quarter valued at approximately $35,000. Quest Partners LLC acquired a new stake in Sweetgreen in the second quarter worth approximately $76,000. Atomi Financial Group Inc. bought a new position in Sweetgreen during the 3rd quarter valued at $216,000. Versor Investments LP acquired a new position in shares of Sweetgreen during the 2nd quarter valued at $217,000. Finally, Precision Wealth Strategies LLC bought a new stake in shares of Sweetgreen in the 3rd quarter worth $227,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Trading Down 0.4 %

Shares of NYSE SG opened at $33.51 on Friday. Sweetgreen, Inc. has a one year low of $9.21 and a one year high of $42.77. The business has a 50-day moving average price of $36.25 and a two-hundred day moving average price of $31.85. The firm has a market capitalization of $3.82 billion, a PE ratio of -42.96 and a beta of 2.32.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Oppenheimer boosted their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. 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. Bank of America upped their price target on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

Insider Activity at Sweetgreen

In related news, CEO Jonathan Neman sold 169,772 shares of Sweetgreen 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 owns 1,930,228 shares of the company’s stock, valued at approximately $69,044,255.56. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicolas Jammet sold 16,751 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $40.04, for a total value of $670,710.04. Following the completion of the transaction, the insider now directly owns 1,930,233 shares in the company, valued at approximately $77,286,529.32. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 457,437 shares of company stock valued at $16,381,658. Corporate insiders own 21.52% of the company’s stock.

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.