Quantbot Technologies LP Increases Stock Position in Sweetgreen, Inc. (NYSE:SG)

Quantbot Technologies LP lifted its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 2,296.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,175 shares of the company's stock after acquiring an additional 49,998 shares during the period. Quantbot Technologies LP's holdings in Sweetgreen were worth $1,850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SG. Essex Investment Management Co. LLC grew its position in Sweetgreen by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company's stock worth $3,993,000 after purchasing an additional 314 shares during the period. Evolutionary Tree Capital Management LLC grew its position in Sweetgreen by 0.7% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company's stock worth $1,982,000 after purchasing an additional 474 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Sweetgreen by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company's stock worth $990,000 after purchasing an additional 537 shares during the period. KBC Group NV grew its position in Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company's stock worth $111,000 after purchasing an additional 704 shares during the period. Finally, Hollencrest Capital Management bought a new stake in Sweetgreen in the 3rd quarter worth approximately $35,000. Institutional investors own 95.75% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SG shares. UBS Group lifted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Bank of America lifted their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, August 19th. Morgan Stanley lifted their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Friday, August 9th. The Goldman Sachs Group reiterated a "neutral" rating and set a $40.00 price target on shares of Sweetgreen in a research note on Friday, November 8th. Finally, Oppenheimer lifted their price target on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.80.

Sweetgreen Price Performance

Shares of Sweetgreen stock traded down $1.45 during trading hours on Friday, reaching $40.98. The company's stock had a trading volume of 1,460,897 shares, compared to its average volume of 2,875,165. The firm has a 50 day moving average price of $37.69 and a 200-day moving average price of $32.93. Sweetgreen, Inc. has a one year low of $9.31 and a one year high of $45.12. The stock has a market cap of $4.74 billion, a P/E ratio of -52.54 and a beta of 2.32.

Insider Transactions at Sweetgreen

In related news, insider Nicolas Jammet sold 14,551 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $654,795.00. Following the transaction, the insider now directly owns 1,930,233 shares in the company, valued at approximately $86,860,485. This represents a 0.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bradley E. Singer sold 42,730 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $38.09, for a total transaction of $1,627,585.70. Following the transaction, the director now owns 139,052 shares in the company, valued at $5,296,490.68. The trade was a 23.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 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.