Centiva Capital LP Purchases Shares of 26,399 Sweetgreen, Inc. (NYSE:SG)

Centiva Capital LP purchased a new position in Sweetgreen, Inc. (NYSE:SG - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 26,399 shares of the company's stock, valued at approximately $936,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sweetgreen during the 3rd quarter valued at about $193,000. PDT Partners LLC increased its holdings in shares of Sweetgreen by 443.1% in the third quarter. PDT Partners LLC now owns 98,803 shares of the company's stock worth $3,503,000 after purchasing an additional 80,612 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of Sweetgreen by 189.6% in the third quarter. Verition Fund Management LLC now owns 173,501 shares of the company's stock worth $6,151,000 after buying an additional 113,586 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sweetgreen by 8.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,841 shares of the company's stock valued at $881,000 after buying an additional 1,950 shares during the last quarter. Finally, FORA Capital LLC grew its holdings in Sweetgreen by 49.7% during the 3rd quarter. FORA Capital LLC now owns 55,775 shares of the company's stock valued at $1,977,000 after buying an additional 18,512 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SG. UBS Group increased their target price on Sweetgreen from $37.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 8th. TD Cowen restated a "buy" rating and set a $45.00 target price on shares of Sweetgreen in a research report on Monday, November 18th. Morgan Stanley lifted their price target on Sweetgreen from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Friday, August 9th. Bank of America upped their price objective on Sweetgreen from $39.00 to $43.00 and gave the company a "buy" rating in a research report on Monday, August 19th. Finally, 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. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $39.80.

Sweetgreen Stock Up 5.0 %

SG stock traded up $1.99 during trading on Friday, hitting $42.04. 2,403,448 shares of the company's stock traded hands, compared to its average volume of 2,860,928. The firm has a market capitalization of $4.86 billion, a P/E ratio of -51.62 and a beta of 2.32. Sweetgreen, Inc. has a 1 year low of $9.66 and a 1 year high of $45.12. The business has a fifty day simple moving average of $38.00 and a two-hundred day simple moving average of $33.14.

Insider Buying and Selling at Sweetgreen

In related news, insider Nathaniel Ru sold 9,250 shares of Sweetgreen stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $28.74, for a total value of $265,845.00. Following the completion of the sale, the insider now directly owns 1,952,129 shares in the company, valued at $56,104,187.46. This trade represents a 0.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Wouleta Ayele sold 4,347 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total transaction of $148,015.35. Following the sale, the chief technology officer now directly owns 140,302 shares in the company, valued at approximately $4,777,283.10. This represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 281,696 shares of company stock valued at $10,738,375. 21.52% of the stock is currently owned by 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.