Wellington Management Group LLP Has $120.78 Million Position in Sweetgreen, Inc. (NYSE:SG)

Wellington Management Group LLP lifted its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,407,163 shares of the company's stock after acquiring an additional 236,874 shares during the period. Wellington Management Group LLP owned approximately 2.99% of Sweetgreen worth $120,784,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Oliver Luxxe Assets LLC purchased a new stake in shares of Sweetgreen during the third quarter valued at approximately $1,973,000. GLOBALT Investments LLC GA acquired a new position in Sweetgreen in the 3rd quarter worth $591,000. Verition Fund Management LLC grew its stake in shares of Sweetgreen by 189.6% during the third quarter. Verition Fund Management LLC now owns 173,501 shares of the company's stock valued at $6,151,000 after acquiring an additional 113,586 shares in the last quarter. Davidson Kempner Capital Management LP lifted its stake in shares of Sweetgreen by 40.1% in the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company's stock worth $17,330,000 after acquiring an additional 164,600 shares in the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new position in Sweetgreen in the third quarter valued at about $3,329,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Stock Down 2.8 %

SG stock traded down $1.07 during trading hours on Tuesday, hitting $36.60. The company's stock had a trading volume of 2,637,324 shares, compared to its average volume of 2,866,488. The stock has a 50 day moving average price of $38.17 and a two-hundred day moving average price of $33.27. Sweetgreen, Inc. has a 12 month low of $9.66 and a 12 month high of $45.12. The company has a market capitalization of $4.23 billion, a PE ratio of -47.40 and a beta of 2.32.

Insider Activity at Sweetgreen

In other news, CEO Jonathan Neman sold 17,020 shares of the firm's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $35.08, for a total value of $597,061.60. Following the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $67,712,398.24. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 directly owns 139,052 shares of the company's stock, valued at $5,296,490.68. This represents a 23.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 332,088 shares of company stock valued at $12,951,071. Corporate insiders own 21.52% of the company's stock.

Analyst Ratings Changes

SG has been the subject of several research analyst reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. UBS Group raised their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, November 8th. TD Cowen reiterated a "buy" rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. Bank of America upped their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, August 19th. Finally, Oppenheimer lifted their price target on Sweetgreen from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $39.80.

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.