Sweetgreen, Inc. (NYSE:SG) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC boosted its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 848.2% during the 3rd quarter, Holdings Channel reports. The firm owned 270,141 shares of the company’s stock after acquiring an additional 241,652 shares during the quarter. Tidal Investments LLC’s holdings in Sweetgreen were worth $9,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Driehaus Capital Management LLC increased its stake in shares of Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after acquiring an additional 1,878,216 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Sweetgreen during the 2nd quarter valued at about $33,449,000. Renaissance Technologies LLC acquired a new position in shares of Sweetgreen in the 2nd quarter valued at about $29,109,000. Baillie Gifford & Co. boosted its stake in shares of Sweetgreen by 6.2% in the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after buying an additional 721,740 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in Sweetgreen by 139.9% during the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after acquiring an additional 547,816 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SG shares. TD Cowen reaffirmed a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. Bank of America increased their price objective on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Piper Sandler restated a “neutral” rating and set a $39.00 target price (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Finally, UBS Group boosted their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.80.

Sweetgreen Stock Down 2.8 %

NYSE SG opened at $37.73 on Friday. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of -48.37 and a beta of 2.32. Sweetgreen, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $45.12. The business has a fifty day moving average of $38.36 and a 200-day moving average of $33.36.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, insider Nathaniel Ru sold 53,718 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $38.70, for a total transaction of $2,078,886.60. Following the completion of the sale, the insider now directly owns 1,952,129 shares in the company, valued at $75,547,392.30. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jonathan Neman sold 14,745 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $663,525.00. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $86,860,260. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 470,639 shares of company stock worth $18,379,124. Corporate insiders own 21.52% of the company’s stock.

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.