Generali Investments Towarzystwo Funduszy Inwestycyjnych Makes New $77,000 Investment in Sweetgreen, Inc. (NYSE:SG)

Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in Sweetgreen, Inc. (NYSE:SG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,400 shares of the company’s stock, valued at approximately $77,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. GLOBALT Investments LLC GA bought a new position in shares of Sweetgreen during the third quarter worth about $591,000. Verition Fund Management LLC grew its position in shares of Sweetgreen by 189.6% during the third quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock worth $6,151,000 after acquiring an additional 113,586 shares during the last quarter. Stephens Investment Management Group LLC grew its position in shares of Sweetgreen by 139.9% during the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after acquiring an additional 547,816 shares during the last quarter. Cox Capital Mgt LLC grew its position in shares of Sweetgreen by 76.0% during the fourth quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company’s stock worth $1,728,000 after acquiring an additional 23,278 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Sweetgreen by 670.0% during the third quarter. Harbor Capital Advisors Inc. now owns 143,441 shares of the company’s stock worth $5,085,000 after acquiring an additional 124,813 shares during the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sweetgreen

In other news, CEO Jonathan Neman sold 33,444 shares of Sweetgreen stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $40.16, for a total value of $1,343,111.04. Following the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $77,517,956.48. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the completion of the transaction, the insider now directly owns 1,760,034 shares in the company, valued at approximately $66,406,082.82. This represents a 8.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 516,817 shares of company stock valued at $19,677,637. 21.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. TD Cowen restated a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. The Goldman Sachs Group decreased their target price on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a research report on Tuesday. TD Securities decreased their target price on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Piper Sandler decreased their target price on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.27.

Sweetgreen Trading Up 0.4 %

SG stock opened at $23.23 on Friday. Sweetgreen, Inc. has a one year low of $11.84 and a one year high of $45.12. The firm has a market capitalization of $2.69 billion, a PE ratio of -29.78 and a beta of 2.37. The firm has a 50-day moving average of $30.24 and a two-hundred day moving average of $34.17.

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.