Oliver Luxxe Assets LLC Raises Stock Position in Sweetgreen, Inc. (NYSE:SG)

Oliver Luxxe Assets LLC boosted its position in Sweetgreen, Inc. (NYSE:SG) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,841 shares of the company’s stock after purchasing an additional 2,196 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Sweetgreen were worth $1,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Driehaus Capital Management LLC increased its holdings in shares of Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after purchasing an additional 1,878,216 shares during the period. Renaissance Technologies LLC bought a new position in Sweetgreen in the 2nd quarter worth about $29,109,000. Stephens Investment Management Group LLC raised its holdings in shares of Sweetgreen by 139.9% in the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after acquiring an additional 547,816 shares in the last quarter. Hood River Capital Management LLC boosted its position in shares of Sweetgreen by 42.6% during the 2nd quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company’s stock valued at $49,521,000 after acquiring an additional 490,806 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock worth $82,032,000 after purchasing an additional 272,340 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Sweetgreen Stock Up 6.2 %

Shares of NYSE SG traded up $2.07 during midday trading on Monday, reaching $35.21. The company had a trading volume of 2,190,460 shares, compared to its average volume of 2,017,216. The stock has a market cap of $4.07 billion, a PE ratio of -45.14 and a beta of 2.32. Sweetgreen, Inc. has a one year low of $9.66 and a one year high of $45.12. The firm’s fifty day moving average price is $37.27 and its 200-day moving average price is $33.55.

Insiders Place Their Bets

In other Sweetgreen news, CEO Jonathan Neman sold 1,010 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total value of $40,410.10. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicolas Jammet sold 14,551 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $654,795.00. Following the transaction, the insider now directly owns 1,930,233 shares of the company’s stock, valued at approximately $86,860,485. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 640,838 shares of company stock valued at $24,800,733 in the last ninety days. Company insiders own 21.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. TD Cowen reaffirmed a “buy” rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. Oppenheimer raised their price objective on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. UBS Group raised their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, KeyCorp initiated coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating for the company. Five 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, Sweetgreen currently has a consensus rating of “Moderate Buy” and an average price target of $39.80.

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.