Harbor Capital Advisors Inc. Grows Holdings in Sweetgreen, Inc. (NYSE:SG)

Harbor Capital Advisors Inc. boosted its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 670.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,441 shares of the company's stock after acquiring an additional 124,813 shares during the period. Harbor Capital Advisors Inc. owned 0.13% of Sweetgreen worth $5,085,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Quest Partners LLC purchased a new position in Sweetgreen in the 2nd quarter worth approximately $76,000. Atomi Financial Group Inc. purchased a new position in Sweetgreen in the 3rd quarter worth approximately $216,000. Versor Investments LP purchased a new position in Sweetgreen in the 2nd quarter worth approximately $217,000. Precision Wealth Strategies LLC purchased a new position in Sweetgreen in the 3rd quarter worth approximately $227,000. Finally, LVW Advisors LLC purchased a new position in Sweetgreen in the 3rd quarter worth approximately $229,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Price Performance

SG stock traded up $0.03 during trading on Monday, hitting $38.05. 2,108,635 shares of the stock traded hands, compared to its average volume of 2,811,185. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of -46.37 and a beta of 2.32. Sweetgreen, Inc. has a 1 year low of $8.64 and a 1 year high of $40.20. The firm's 50 day moving average is $34.87 and its two-hundred day moving average is $30.80.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The company had revenue of $184.60 million during the quarter, compared to the consensus estimate of $180.79 million. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. The business's revenue was up 21.0% compared to the same quarter last year. As a group, analysts anticipate that Sweetgreen, Inc. will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Adrienne Gemperle sold 3,868 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $140,447.08. Following the completion of the transaction, the insider now directly owns 114,842 shares in the company, valued at approximately $4,169,913.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CTO Wouleta Ayele sold 2,831 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $102,793.61. Following the transaction, the chief technology officer now directly owns 144,649 shares of the company's stock, valued at approximately $5,252,205.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adrienne Gemperle sold 3,868 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $140,447.08. Following the completion of the transaction, the insider now directly owns 114,842 shares in the company, valued at approximately $4,169,913.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 428,334 shares of company stock valued at $15,162,663. 21.52% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their price objective on shares of Sweetgreen from $31.00 to $37.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Oppenheimer upped their price objective on shares of Sweetgreen from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday, August 15th. Piper Sandler reaffirmed a "neutral" rating and issued a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. TD Cowen reaffirmed a "buy" rating and issued a $43.00 price objective on shares of Sweetgreen in a research note on Friday, September 27th. Finally, Morgan Stanley upped their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the company an "equal weight" rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.20.

About Sweetgreen

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.