Los Angeles Capital Management LLC Acquires 1,050 Shares of Sweetgreen, Inc. (NYSE:SG)

Los Angeles Capital Management LLC grew its holdings in Sweetgreen, Inc. (NYSE:SG) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,468 shares of the company’s stock after purchasing an additional 1,050 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Sweetgreen were worth $548,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Baillie Gifford & Co. raised its stake in 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 buying an additional 721,740 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Sweetgreen by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock worth $212,713,000 after purchasing an additional 70,395 shares during the last quarter. Driehaus Capital Management LLC boosted its position in Sweetgreen by 231.8% during 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 grew its stake in Sweetgreen by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock valued at $53,151,000 after purchasing an additional 39,823 shares during the last quarter. Finally, Hood River Capital Management LLC raised its holdings in Sweetgreen by 42.6% in the second quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company’s stock worth $49,521,000 after purchasing an additional 490,806 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Price Performance

Shares of SG stock opened at $33.51 on Friday. The business has a fifty day moving average of $36.25 and a 200 day moving average of $31.85. Sweetgreen, Inc. has a 1 year low of $9.21 and a 1 year high of $42.77. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of -42.96 and a beta of 2.32.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Bank of America lifted their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Oppenheimer increased their price objective on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $39.80.

Insider Activity

In other Sweetgreen news, insider Nicolas Jammet sold 169,767 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,565.59. Following the sale, the insider now directly owns 1,930,233 shares of the company’s stock, valued at approximately $69,044,434.41. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Neman sold 169,772 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,744.44. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $69,044,255.56. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 457,437 shares of company stock valued at $16,381,658. 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.