Pathstone Holdings LLC Reduces Holdings in Sweetgreen, Inc. (NYSE:SG)

Pathstone Holdings LLC trimmed its stake in Sweetgreen, Inc. (NYSE:SG) by 1.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 324,967 shares of the company’s stock after selling 4,629 shares during the quarter. Pathstone Holdings LLC’s holdings in Sweetgreen were worth $11,520,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Oliver Luxxe Assets LLC purchased a new position in Sweetgreen during the 3rd quarter valued at about $1,973,000. GLOBALT Investments LLC GA purchased a new position in Sweetgreen during the 3rd quarter valued at about $591,000. Sei Investments Co. purchased a new position in Sweetgreen during the 1st quarter valued at about $1,110,000. Davidson Kempner Capital Management LP lifted its position in 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 acquiring an additional 164,600 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new position in Sweetgreen during the 3rd quarter valued at about $3,329,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Stock Up 0.1 %

Shares of SG stock opened at $37.91 on Thursday. The company has a 50 day moving average price of $36.62 and a 200-day moving average price of $32.17. Sweetgreen, Inc. has a 52 week low of $9.21 and a 52 week high of $42.77. The firm has a market capitalization of $4.39 billion, a PE ratio of -48.60 and a beta of 2.32.

Insider Transactions at Sweetgreen

In other Sweetgreen news, insider Adrienne Gemperle sold 5,372 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $182,916.60. Following the completion of the sale, the insider now directly owns 107,313 shares of the company’s stock, valued at approximately $3,654,007.65. This represents a 4.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bradley E. Singer sold 42,730 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $38.09, for a total transaction of $1,627,585.70. Following the completion of the sale, the director now directly owns 139,052 shares of the company’s stock, valued at approximately $5,296,490.68. This trade represents a 23.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 503,671 shares of company stock worth $18,138,774 over the last three months. 21.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SG shares. Citigroup lifted their price target on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. UBS Group lifted their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Oppenheimer lifted 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. Bank of America lifted their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.80.

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.