Intech Investment Management LLC Purchases Shares of 29,476 Sweetgreen, Inc. (NYSE:SG)

Intech Investment Management LLC acquired a new position in shares of Sweetgreen, Inc. (NYSE:SG) in the 3rd quarter, Holdings Channel reports. The fund acquired 29,476 shares of the company’s stock, valued at approximately $1,045,000.

A number of other hedge funds have also modified their holdings of SG. Baillie Gifford & Co. raised 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 valued at $371,516,000 after purchasing an additional 721,740 shares during the last quarter. Vanguard Group Inc. grew its position in Sweetgreen by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock valued at $212,713,000 after purchasing an additional 70,395 shares in the last quarter. Driehaus Capital Management LLC grew its position in Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock valued at $81,028,000 after purchasing an additional 1,878,216 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Sweetgreen by 2.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock valued at $53,151,000 after buying an additional 39,823 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its position in Sweetgreen by 42.6% during the 2nd quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company’s stock worth $49,521,000 after buying an additional 490,806 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.

Sweetgreen Price Performance

NYSE:SG opened at $42.39 on Thursday. The company has a market cap of $4.90 billion, a P/E ratio of -54.35 and a beta of 2.32. The firm’s fifty day moving average price is $37.32 and its two-hundred day moving average price is $32.73. Sweetgreen, Inc. has a one year low of $9.31 and a one year high of $45.12.

Insider Activity at Sweetgreen

In other news, insider Nicolas Jammet sold 14,551 shares of Sweetgreen stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.00, for a total transaction of $654,795.00. Following the completion of the sale, the insider now owns 1,930,233 shares of the company’s stock, valued at approximately $86,860,485. This trade represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Neman sold 7,400 shares of Sweetgreen stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $28.81, for a total transaction of $213,194.00. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $55,609,868.68. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,892 shares of company stock worth $7,499,763. Insiders own 21.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SG. Morgan Stanley lifted their target price on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. UBS Group increased their price objective on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Citigroup raised their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, Oppenheimer upped their price target on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Sweetgreen presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

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.