Daiwa Securities Group Inc. Makes New Investment in Sweetgreen, Inc. (NYSE:SG)

Daiwa Securities Group Inc. bought a new position in Sweetgreen, Inc. (NYSE:SG) during the third quarter, HoldingsChannel.com reports. The fund bought 4,375 shares of the company’s stock, valued at approximately $155,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Essex Investment Management Co. LLC raised its holdings in Sweetgreen by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock worth $3,993,000 after acquiring an additional 314 shares during the last quarter. Evolutionary Tree Capital Management LLC increased its holdings in shares of Sweetgreen by 0.7% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock worth $1,982,000 after purchasing an additional 474 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Sweetgreen by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after purchasing an additional 537 shares during the last quarter. KBC Group NV lifted its holdings in shares of Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares in the last quarter. Finally, Hollencrest Capital Management bought a new position in shares of Sweetgreen during the third quarter valued at $35,000. 95.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on SG. Oppenheimer boosted their target price on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group reissued a “neutral” rating and set 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. Bank of America lifted their target price 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, Piper Sandler reissued a “neutral” rating and set a $39.00 price target (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Sweetgreen has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

Sweetgreen Price Performance

Shares of Sweetgreen stock opened at $40.98 on Monday. Sweetgreen, Inc. has a 1-year low of $9.31 and a 1-year high of $45.12. The company’s fifty day simple moving average is $37.69 and its 200-day simple moving average is $32.93. The stock has a market capitalization of $4.74 billion, a PE ratio of -52.54 and a beta of 2.32.

Insider Buying and Selling

In related news, CEO Jonathan Neman sold 14,745 shares of Sweetgreen stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $663,525.00. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $86,860,260. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nathaniel Ru sold 9,250 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $28.74, for a total value of $265,845.00. Following the completion of the sale, the insider now owns 1,952,129 shares of the company’s stock, valued at $56,104,187.46. The trade was a 0.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,892 shares of company stock valued at $7,499,763. 21.52% of the stock is owned by company insiders.

Sweetgreen 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.