Los Angeles Capital Management LLC Boosts Holdings in Sweetgreen, Inc. (NYSE:SG)

Los Angeles Capital Management LLC raised its position in shares of Sweetgreen, Inc. (NYSE:SG) by 7.3% in the third quarter, according to the company in its most recent 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 quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Hollencrest Capital Management bought a new stake in Sweetgreen during the third quarter valued at about $35,000. Quest Partners LLC bought a new stake in Sweetgreen during the 2nd quarter valued at approximately $76,000. Atomi Financial Group Inc. purchased a new position in Sweetgreen in the 3rd quarter worth approximately $216,000. Versor Investments LP bought a new position in Sweetgreen in the 2nd quarter worth approximately $217,000. Finally, Precision Wealth Strategies LLC purchased a new stake in Sweetgreen during the 3rd quarter valued at approximately $227,000. Institutional investors own 95.75% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on SG shares. TD Cowen boosted their target price on shares of Sweetgreen from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Morgan Stanley increased their price objective 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. Piper Sandler reaffirmed a “neutral” rating and issued a $39.00 target price (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. UBS Group increased their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Citigroup lifted their price objective on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Four equities 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $39.80.

Insider Buying and Selling

In other news, Director Bradley E. Singer sold 7,270 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $39.70, for a total value of $288,619.00. Following the sale, the director now directly owns 181,782 shares in the company, valued at approximately $7,216,745.40. This represents a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adrienne Gemperle sold 6,225 shares of Sweetgreen stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $33.40, for a total value of $207,915.00. Following the sale, the insider now owns 112,685 shares of the company’s stock, valued at approximately $3,763,679. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 457,437 shares of company stock worth $16,381,658 over the last three months. 21.52% of the stock is owned by insiders.

Sweetgreen Stock Performance

Shares of Sweetgreen stock opened at $33.51 on Friday. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of -42.96 and a beta of 2.32. The stock has a 50 day moving average price of $36.25 and a 200-day moving average price of $31.85. Sweetgreen, Inc. has a one year low of $9.21 and a one year high of $42.77.

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.