Stifel Financial Corp Acquires Shares of 8,088 Sweetgreen, Inc. (NYSE:SG)

Stifel Financial Corp bought a new position in Sweetgreen, Inc. (NYSE:SG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,088 shares of the company’s stock, valued at approximately $287,000.

A number of other institutional investors have also modified their holdings of the stock. Driehaus Capital Management LLC grew its stake in 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 in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Sweetgreen in the 2nd quarter worth approximately $29,109,000. Stephens Investment Management Group LLC increased 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 during the last quarter. Hood River Capital Management LLC raised 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 in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Sweetgreen by 1,610.4% during the second quarter. Principal Financial Group Inc. now owns 218,281 shares of the company’s stock worth $6,579,000 after purchasing an additional 205,519 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Price Performance

Shares of Sweetgreen stock opened at $32.37 on Friday. Sweetgreen, Inc. has a 1-year low of $9.66 and a 1-year high of $45.12. The business’s fifty day moving average price is $37.74 and its two-hundred day moving average price is $33.54. The company has a market capitalization of $3.74 billion, a P/E ratio of -41.50 and a beta of 2.32.

Insider Activity at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 1,010 shares of the company’s 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 sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $77,228,422.28. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicolas Jammet sold 170,199 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $37.73, for a total value of $6,421,608.27. Following the transaction, the insider now directly owns 1,760,034 shares of the company’s stock, valued at approximately $66,406,082.82. The trade was a 8.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 640,838 shares of company stock worth $24,800,733 over the last ninety days. 21.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. TD Cowen reiterated a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. UBS Group boosted their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. KeyCorp started coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research note on Friday, November 8th. Finally, Oppenheimer increased their price target on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.