Intech Investment Management LLC Buys Shares of 29,476 Sweetgreen, Inc. (NYSE:SG)

Intech Investment Management LLC bought a new position in Sweetgreen, Inc. (NYSE:SG - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 29,476 shares of the company's stock, valued at approximately $1,045,000.

Several other hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in Sweetgreen during the 3rd quarter valued at about $35,000. Quest Partners LLC purchased a new position in shares of Sweetgreen during the second quarter valued at approximately $76,000. KBC Group NV raised its holdings in shares of Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company's stock valued at $111,000 after acquiring an additional 704 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in Sweetgreen in the third quarter worth $216,000. Finally, Precision Wealth Strategies LLC purchased a new position in Sweetgreen during the 3rd quarter valued at $227,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Jonathan Neman sold 7,400 shares of Sweetgreen stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $28.81, for a total value of $213,194.00. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $55,609,868.68. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicolas Jammet sold 21,275 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $35.10, for a total transaction of $746,752.50. Following the transaction, the insider now owns 1,930,233 shares in the company, valued at approximately $67,751,178.30. This trade represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,892 shares of company stock worth $7,499,763 in the last three months. Insiders own 21.52% of the company's stock.

Sweetgreen Stock Down 1.9 %

Sweetgreen stock traded down $0.84 during trading hours on Thursday, hitting $42.43. The stock had a trading volume of 1,827,665 shares, compared to its average volume of 2,881,304. The stock's 50-day moving average price is $37.49 and its 200-day moving average price is $32.80. The stock has a market capitalization of $4.91 billion, a P/E ratio of -54.40 and a beta of 2.32. Sweetgreen, Inc. has a 12-month low of $9.31 and a 12-month high of $45.12.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SG shares. UBS Group lifted their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, November 8th. The Goldman Sachs Group reiterated a "neutral" rating and set a $40.00 target price on shares of Sweetgreen in a report on Friday, November 8th. TD Cowen restated a "buy" rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. Morgan Stanley upped their price target on Sweetgreen from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Friday, August 9th. Finally, Bank of America boosted their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the company a "buy" rating in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.80.

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.