GLOBALT Investments LLC GA Acquires New Position in Sweetgreen, Inc. (NYSE:SG)

GLOBALT Investments LLC GA bought a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 16,672 shares of the company's stock, valued at approximately $591,000.

A number of other large investors have also recently made changes to their positions in SG. Baillie Gifford & Co. boosted its stake in shares of Sweetgreen by 6.2% during the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company's stock valued at $371,516,000 after acquiring an additional 721,740 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Sweetgreen by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company's stock valued at $212,713,000 after buying an additional 70,395 shares during the period. Driehaus Capital Management LLC grew its stake in Sweetgreen by 231.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company's stock valued at $81,028,000 after purchasing an additional 1,878,216 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Sweetgreen by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company's stock valued at $53,151,000 after purchasing an additional 39,823 shares in the last quarter. Finally, Hood River Capital Management LLC grew its stake in Sweetgreen by 42.6% during the 2nd quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company's stock valued at $49,521,000 after purchasing an additional 490,806 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Stock Up 12.0 %

NYSE:SG traded up $4.06 during trading hours on Tuesday, hitting $37.89. 3,071,792 shares of the stock were exchanged, compared to its average volume of 2,880,745. The company's 50 day moving average is $36.35 and its two-hundred day moving average is $32.02. The company has a market capitalization of $4.38 billion, a P/E ratio of -46.64 and a beta of 2.32. Sweetgreen, Inc. has a twelve month low of $9.21 and a twelve month high of $42.77.

Analyst Upgrades and Downgrades

SG has been the subject of several research reports. Bank of America lifted their target price on Sweetgreen from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, August 19th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. Morgan Stanley raised their price target on Sweetgreen from $25.00 to $27.00 and gave the stock an "equal weight" rating in a report on Friday, August 9th. UBS Group boosted their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, Citigroup lifted their price target on Sweetgreen from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $39.80.

Insider Activity

In related news, CEO Jonathan Neman sold 169,772 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the sale, the chief executive officer now owns 1,930,228 shares of the company's stock, valued at approximately $69,044,255.56. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bradley E. Singer sold 7,270 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $39.70, for a total value of $288,619.00. Following the sale, the director now directly owns 181,782 shares in the company, valued at $7,216,745.40. The trade was a 3.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 441,715 shares of company stock valued at $15,856,543 in the last 90 days. 21.52% of the stock is owned by company insiders.

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.