Tidal Investments LLC Increases Position in Sweetgreen, Inc. (NYSE:SG)

Tidal Investments LLC grew its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 848.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,141 shares of the company's stock after purchasing an additional 241,652 shares during the period. Tidal Investments LLC owned approximately 0.23% of Sweetgreen worth $9,576,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Driehaus Capital Management LLC lifted its stake in shares of Sweetgreen by 231.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company's stock valued at $81,028,000 after acquiring an additional 1,878,216 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Sweetgreen in the second quarter valued at approximately $33,449,000. Renaissance Technologies LLC purchased a new stake in shares of Sweetgreen during the second quarter valued at approximately $29,109,000. Baillie Gifford & Co. grew its holdings 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 purchasing an additional 721,740 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in shares of Sweetgreen by 139.9% in the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company's stock worth $33,299,000 after buying an additional 547,816 shares during the period. Institutional investors own 95.75% of the company's stock.

Sweetgreen Price Performance

SG stock traded down $3.19 during midday trading on Friday, hitting $34.55. 4,148,767 shares of the stock traded hands, compared to its average volume of 2,860,932. Sweetgreen, Inc. has a 1-year low of $9.66 and a 1-year high of $45.12. The stock's fifty day simple moving average is $38.36 and its 200-day simple moving average is $33.36. The firm has a market cap of $4.00 billion, a P/E ratio of -45.09 and a beta of 2.32.

Analysts Set New Price Targets

Several analysts have weighed in on the company. KeyCorp assumed coverage on Sweetgreen in a research report on Wednesday. They set a "sector weight" rating on the stock. UBS Group upped their price target on Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. TD Cowen reissued a "buy" rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. The Goldman Sachs Group restated a "neutral" rating and set a $40.00 target price on shares of Sweetgreen in a report on Friday, November 8th. Finally, Piper Sandler reissued a "neutral" rating and set a $39.00 price target (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $39.80.

Insider Activity

In other Sweetgreen news, CEO Jonathan Neman sold 14,745 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $663,525.00. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $86,860,260. This represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nathaniel Ru sold 1,263 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total transaction of $50,532.63. Following the transaction, the insider now directly owns 1,952,129 shares in the company, valued at approximately $78,104,681.29. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 470,639 shares of company stock worth $18,379,124 over the last quarter. 21.52% of the stock is currently owned by corporate 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.