Sweetgreen, Inc. (NYSE:SG) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC lifted its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 189.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,501 shares of the company's stock after purchasing an additional 113,586 shares during the quarter. Verition Fund Management LLC owned 0.15% of Sweetgreen worth $6,151,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Driehaus Capital Management LLC lifted its holdings in shares of Sweetgreen by 231.8% during the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company's stock worth $81,028,000 after purchasing an additional 1,878,216 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Sweetgreen in the 2nd quarter valued at about $33,449,000. Renaissance Technologies LLC bought a new position in shares of Sweetgreen during the second quarter worth about $29,109,000. Baillie Gifford & Co. lifted its stake in shares of Sweetgreen by 6.2% in the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company's stock worth $371,516,000 after acquiring an additional 721,740 shares during the period. Finally, Stephens Investment Management Group LLC boosted its holdings in Sweetgreen by 139.9% in the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company's stock valued at $33,299,000 after acquiring an additional 547,816 shares during the last quarter. Institutional investors own 95.75% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SG. UBS Group lifted their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. TD Cowen reiterated a "buy" rating and issued a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Morgan Stanley raised their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Friday, August 9th. The Goldman Sachs Group reiterated a "neutral" rating and set a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. Finally, Piper Sandler restated a "neutral" rating and issued a $39.00 price target (up from $33.00) on shares of Sweetgreen 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 company presently has a consensus rating of "Moderate Buy" and an average target price of $39.80.

Sweetgreen Trading Down 1.8 %

SG stock traded down $0.70 during midday trading on Tuesday, hitting $38.53. The company's stock had a trading volume of 2,460,992 shares, compared to its average volume of 2,871,291. The firm's 50-day moving average is $37.76 and its 200-day moving average is $32.99. Sweetgreen, Inc. has a 12 month low of $9.59 and a 12 month high of $45.12. The company has a market cap of $4.46 billion, a PE ratio of -49.40 and a beta of 2.32.

Insider Activity at Sweetgreen

In other news, Director Bradley E. Singer sold 42,730 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $38.09, for a total value of $1,627,585.70. Following the sale, the director now directly owns 139,052 shares in the company, valued at $5,296,490.68. The trade was a 23.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nathaniel Ru sold 9,250 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $28.74, for a total transaction of $265,845.00. Following the completion of the transaction, the insider now directly owns 1,952,129 shares of the company's stock, valued at approximately $56,104,187.46. The trade was a 0.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,892 shares of company stock valued at $7,499,763 over the last ninety days. Insiders own 21.52% of the company's stock.

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.