Sweetgreen, Inc. (NYSE:SG) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC raised its position in shares of Sweetgreen, Inc. (NYSE:SG) by 189.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 173,501 shares of the company’s stock after purchasing an additional 113,586 shares during the period. Verition Fund Management LLC owned 0.15% of Sweetgreen worth $6,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SG. Hollencrest Capital Management acquired a new position in shares of Sweetgreen during the third quarter valued at $35,000. Quest Partners LLC bought a new position in Sweetgreen in the 2nd quarter valued at about $76,000. KBC Group NV increased its stake in Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after buying an additional 704 shares during the period. Daiwa Securities Group Inc. acquired a new position in Sweetgreen during the 3rd quarter valued at about $155,000. Finally, Canton Hathaway LLC bought a new stake in shares of Sweetgreen during the 3rd quarter worth about $177,000. Institutional investors own 95.75% of the company’s stock.

Insider Activity at Sweetgreen

In other Sweetgreen news, insider Nathaniel Ru sold 9,250 shares of Sweetgreen stock in a transaction on Monday, September 9th. The shares were sold at an average price of $28.74, for a total transaction 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. This trade represents a 0.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Adrienne Gemperle sold 5,372 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $182,916.60. Following the completion of the sale, the insider now directly owns 107,313 shares of the company’s stock, 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. In the last 90 days, insiders sold 197,892 shares of company stock worth $7,499,763. 21.52% of the stock is owned by corporate insiders.

Sweetgreen Price Performance

Shares of SG opened at $39.23 on Tuesday. The company has a 50-day moving average of $37.69 and a two-hundred day moving average of $32.94. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of -53.17 and a beta of 2.32. Sweetgreen, Inc. has a one year low of $9.59 and a one year high of $45.12.

Wall Street Analysts Forecast Growth

SG has been the topic of a number of research analyst reports. TD Cowen reiterated a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. Bank of America boosted their price objective on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Citigroup raised their target price on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. Finally, Piper Sandler restated a “neutral” rating and set a $39.00 price objective (up previously 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. Based on data from MarketBeat, Sweetgreen presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

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.