Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Sweetgreen, Inc. (NYSE:SG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sweetgreen, Inc. (NYSE:SG) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,587 shares of the company’s stock after buying an additional 1,746 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sweetgreen were worth $852,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. KBC Group NV boosted its stake in shares of Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after acquiring an additional 704 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Sweetgreen by 91.9% during the third quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock worth $1,077,000 after buying an additional 14,545 shares in the last quarter. Quest Partners LLC raised its position in shares of Sweetgreen by 68.4% in the third quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock valued at $151,000 after buying an additional 1,728 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Sweetgreen in the third quarter worth about $6,191,000. Finally, Moors & Cabot Inc. acquired a new position in Sweetgreen during the third quarter worth about $505,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analysts Set New Price Targets

SG has been the subject of a number of recent research reports. The Goldman Sachs Group cut their price objective on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Morgan Stanley reduced their price objective on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Piper Sandler dropped their target price on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a report 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 report on Tuesday, February 25th. Finally, UBS Group dropped their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Sweetgreen has an average rating of “Moderate Buy” and an average price target of $36.27.

Sweetgreen Stock Performance

Shares of SG stock opened at $24.44 on Friday. The firm has a market cap of $2.87 billion, a P/E ratio of -31.33 and a beta of 2.44. The firm’s 50 day moving average price is $27.46 and its 200-day moving average price is $33.04. Sweetgreen, Inc. has a one year low of $18.77 and a one year high of $45.12.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 8,000 shares of Sweetgreen stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total value of $265,040.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Rossann Williams sold 4,977 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $118,452.60. Following the sale, the chief operating officer now directly owns 95,516 shares in the company, valued at $2,273,280.80. This represents a 4.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,852 shares of company stock valued at $1,052,177 over the last quarter. 21.52% of the stock is owned by company insiders.

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.