FORA Capital LLC Purchases 18,512 Shares of Sweetgreen, Inc. (NYSE:SG)

FORA Capital LLC raised its stake in Sweetgreen, Inc. (NYSE:SG - Free Report) by 49.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,775 shares of the company's stock after acquiring an additional 18,512 shares during the period. FORA Capital LLC's holdings in Sweetgreen were worth $1,977,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Driehaus Capital Management LLC boosted its position in shares of Sweetgreen by 231.8% during the 2nd 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 in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Sweetgreen in the 2nd quarter valued at $33,449,000. Renaissance Technologies LLC acquired a new position in shares of Sweetgreen during the 2nd quarter worth $29,109,000. Baillie Gifford & Co. raised its holdings in shares of Sweetgreen by 6.2% during the 2nd 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 in the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in shares of Sweetgreen by 139.9% during the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company's stock worth $33,299,000 after buying an additional 547,816 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, insider Adrienne Gemperle sold 5,372 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 value of $182,916.60. Following the transaction, the insider now directly owns 107,313 shares of the company's stock, valued at approximately $3,654,007.65. The trade was a 4.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Neman sold 14,745 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $45.00, for a total transaction of $663,525.00. Following the sale, the chief executive officer now directly owns 1,930,228 shares of the company's stock, valued at approximately $86,860,260. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,892 shares of company stock valued at $7,499,763. 21.52% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SG has been the subject of several research analyst reports. UBS Group boosted their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Oppenheimer increased their price objective on shares of Sweetgreen from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. TD Cowen reiterated a "buy" rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. Piper Sandler restated a "neutral" rating and set a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Finally, Morgan Stanley increased their target price on Sweetgreen from $25.00 to $27.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.80.

Sweetgreen Price Performance

Shares of SG traded down $0.84 during trading hours on Thursday, hitting $42.43. 1,827,665 shares of the stock were exchanged, compared to its average volume of 2,881,304. Sweetgreen, Inc. has a fifty-two week low of $9.31 and a fifty-two week high of $45.12. The business has a 50-day moving average of $37.32 and a 200-day moving average of $32.73. The firm has a market capitalization of $4.91 billion, a P/E ratio of -54.35 and a beta of 2.32.

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.