Harbor Capital Advisors Inc. Has $5.46 Million Stake in Sweetgreen, Inc. (NYSE:SG)

Harbor Capital Advisors Inc. grew its stake in Sweetgreen, Inc. (NYSE:SG) by 18.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,172 shares of the company’s stock after purchasing an additional 26,731 shares during the period. Harbor Capital Advisors Inc.’s holdings in Sweetgreen were worth $5,456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SG. Essex Investment Management Co. LLC boosted its position in Sweetgreen by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock valued at $3,993,000 after buying an additional 314 shares in the last quarter. Evolutionary Tree Capital Management LLC boosted its holdings in shares of Sweetgreen by 0.7% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock valued at $1,982,000 after acquiring an additional 474 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Sweetgreen by 2.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after acquiring an additional 537 shares during the last quarter. KBC Group NV increased its holdings in Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares in the last quarter. Finally, Pier Capital LLC raised its position in Sweetgreen by 0.3% in the third quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after purchasing an additional 761 shares during the last quarter. 95.75% of the stock is owned by institutional investors.

Sweetgreen Price Performance

Shares of NYSE:SG opened at $33.11 on Friday. Sweetgreen, Inc. has a 1 year low of $9.66 and a 1 year high of $45.12. The business’s 50-day moving average is $36.78 and its 200-day moving average is $33.62. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -42.45 and a beta of 2.38.

Insider Buying and Selling at Sweetgreen

In related news, insider Nathaniel Ru sold 1,263 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $50,532.63. Following the completion of the sale, the insider now directly owns 1,952,129 shares of the company’s stock, valued at $78,104,681.29. The trade was a 0.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jonathan Neman sold 1,010 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $40,410.10. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $77,228,422.28. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 640,838 shares of company stock valued at $24,800,733. 21.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on SG shares. TD Cowen restated a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. Citigroup raised shares of Sweetgreen from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $49.00 in a report on Friday. Oppenheimer dropped their price target on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday. The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. Finally, KeyCorp started coverage on Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating for the company. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Sweetgreen currently has an average rating of “Moderate Buy” and a consensus target price of $41.10.

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.