Natixis Advisors LLC Boosts Stake in Sweetgreen, Inc. (NYSE:SG)

Natixis Advisors LLC lifted its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 91.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,380 shares of the company’s stock after buying an additional 14,545 shares during the quarter. Natixis Advisors LLC’s holdings in Sweetgreen were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV grew its position in shares of 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 acquiring an additional 704 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Sweetgreen by 9.9% during the third quarter. Oppenheimer & Co. Inc. now owns 26,483 shares of the company’s stock worth $939,000 after purchasing an additional 2,380 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Sweetgreen by 7.3% in the third quarter. Los Angeles Capital Management LLC now owns 15,468 shares of the company’s stock worth $548,000 after purchasing an additional 1,050 shares during the period. Hollencrest Capital Management bought a new stake in Sweetgreen during the third quarter valued at $35,000. Finally, Moloney Securities Asset Management LLC raised its holdings in shares of Sweetgreen by 40.0% during the third quarter. Moloney Securities Asset Management LLC now owns 11,900 shares of the company’s stock worth $422,000 after purchasing an additional 3,400 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Bradley E. Singer sold 42,730 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $38.09, for a total transaction of $1,627,585.70. Following the sale, the director now owns 139,052 shares of the company’s stock, valued at $5,296,490.68. The trade was a 23.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Neman sold 7,400 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $28.81, for a total value of $213,194.00. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $55,609,868.68. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,132 shares of company stock worth $5,993,464. 21.52% of the stock is owned by company insiders.

Sweetgreen Price Performance

Shares of SG stock opened at $43.27 on Wednesday. Sweetgreen, Inc. has a 12-month low of $9.21 and a 12-month high of $45.12. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of -55.47 and a beta of 2.32. The business has a 50 day simple moving average of $37.13 and a 200 day simple moving average of $32.65.

Wall Street Analyst Weigh In

SG has been the subject of several research reports. Morgan Stanley lifted their price target 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. TD Cowen restated a “buy” rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. Oppenheimer upped their target price on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Citigroup raised their price target on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.80.

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.