Quest Partners LLC Has $151,000 Position in Sweetgreen, Inc. (NYSE:SG)

Quest Partners LLC grew its position in Sweetgreen, Inc. (NYSE:SG) by 68.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,256 shares of the company’s stock after purchasing an additional 1,728 shares during the period. Quest Partners LLC’s holdings in Sweetgreen were worth $151,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Oliver Luxxe Assets LLC acquired a new position in Sweetgreen in the third quarter valued at about $1,973,000. Davidson Kempner Capital Management LP grew its position in Sweetgreen by 40.1% during the 2nd 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 during the last quarter. Zweig DiMenna Associates LLC bought a new position in Sweetgreen in the 3rd quarter valued at $3,329,000. Stephens Investment Management Group LLC boosted its stake in 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 purchasing an additional 547,816 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Sweetgreen by 13.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,258,484 shares of the company’s stock worth $44,613,000 after purchasing an additional 148,684 shares during the last quarter. Institutional investors own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SG shares. 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. Citigroup upped their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and set a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Finally, TD Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.80.

Sweetgreen Trading Down 1.9 %

NYSE:SG opened at $42.43 on Friday. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of -54.40 and a beta of 2.32. Sweetgreen, Inc. has a 1-year low of $9.31 and a 1-year high of $45.12. The business’s 50-day moving average price is $37.49 and its two-hundred day moving average price is $32.80.

Insider Activity at Sweetgreen

In related news, Director Bradley E. Singer sold 42,730 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $38.09, for a total transaction of $1,627,585.70. Following the completion of the sale, the director now directly owns 139,052 shares of the company’s stock, valued at approximately $5,296,490.68. This represents a 23.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adrienne Gemperle sold 5,372 shares of Sweetgreen stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $182,916.60. Following the completion of the transaction, the insider now directly owns 107,313 shares in the company, valued at approximately $3,654,007.65. The trade was a 4.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,892 shares of company stock worth $7,499,763 in the last ninety days. Company insiders own 21.52% of the company’s stock.

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.