Barclays PLC Buys 92,071 Shares of Sweetgreen, Inc. (NYSE:SG)

Barclays PLC raised its holdings in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 81.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 205,171 shares of the company's stock after purchasing an additional 92,071 shares during the period. Barclays PLC owned approximately 0.18% of Sweetgreen worth $6,577,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cox Capital Mgt LLC raised its position in Sweetgreen by 76.0% in the fourth quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company's stock worth $1,728,000 after acquiring an additional 23,278 shares during the period. Moody National Bank Trust Division purchased a new position in shares of Sweetgreen during the 4th quarter worth $1,182,000. Diversified Trust Co boosted its stake in shares of Sweetgreen by 223.2% during the 4th quarter. Diversified Trust Co now owns 27,126 shares of the company's stock worth $870,000 after acquiring an additional 18,733 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Sweetgreen by 1,399.0% during the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company's stock worth $4,365,000 after acquiring an additional 103,664 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Sweetgreen by 400.1% during the 4th quarter. LPL Financial LLC now owns 59,592 shares of the company's stock worth $1,911,000 after acquiring an additional 47,676 shares during the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on SG shares. Morgan Stanley set a $24.00 price target on shares of Sweetgreen in a research note on Monday, April 14th. Piper Sandler dropped their price target on shares of Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada reiterated an "outperform" rating and set a $45.00 price target on shares of Sweetgreen in a research note on Tuesday, February 25th. Citigroup lowered their target price on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, TD Securities lowered their target price on shares of Sweetgreen from $45.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $35.91.

Insider Transactions at Sweetgreen

In related news, CFO Mitch Reback sold 4,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $21.07, for a total transaction of $84,280.00. Following the transaction, the chief financial officer now directly owns 344,509 shares in the company, valued at approximately $7,258,804.63. This represents a 1.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan Neman sold 5,717 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $136,064.60. Following the transaction, the chief executive officer now owns 1,810,263 shares in the company, valued at $43,084,259.40. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,852 shares of company stock worth $871,417 in the last three months. Insiders own 21.52% of the company's stock.

Sweetgreen Stock Up 2.3 %

SG stock traded up $0.43 during mid-day trading on Wednesday, hitting $19.52. The company had a trading volume of 3,655,036 shares, compared to its average volume of 3,356,948. The company has a 50-day moving average price of $22.30 and a 200 day moving average price of $30.40. Sweetgreen, Inc. has a 12-month low of $16.29 and a 12-month high of $45.12. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -25.03 and a beta of 2.28.

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.