XTX Topco Ltd Buys New Stake in Sweetgreen, Inc. (NYSE:SG)

XTX Topco Ltd bought a new stake in Sweetgreen, Inc. (NYSE:SG) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 7,812 shares of the company’s stock, valued at approximately $277,000.

A number of other hedge funds have also recently modified their holdings of SG. Castleark Management LLC grew its position in Sweetgreen by 11.4% during the 3rd quarter. Castleark Management LLC now owns 114,937 shares of the company’s stock worth $4,075,000 after purchasing an additional 11,717 shares during the last quarter. Wellington Management Group LLP grew its position in Sweetgreen by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock worth $120,784,000 after purchasing an additional 236,874 shares during the last quarter. State Street Corp grew its position in Sweetgreen by 3.2% during the 3rd quarter. State Street Corp now owns 2,263,025 shares of the company’s stock worth $80,224,000 after purchasing an additional 69,120 shares during the last quarter. Stifel Financial Corp purchased a new position in Sweetgreen during the 3rd quarter worth $287,000. Finally, Point72 DIFC Ltd purchased a new position in Sweetgreen during the 3rd quarter worth $288,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Price Performance

Shares of NYSE SG opened at $35.89 on Wednesday. The company has a market cap of $4.15 billion, a PE ratio of -46.01 and a beta of 2.32. Sweetgreen, Inc. has a 12 month low of $9.66 and a 12 month high of $45.12. The company has a 50-day simple moving average of $38.32 and a 200-day simple moving average of $33.50.

Insider Activity at Sweetgreen

In related news, insider Nicolas Jammet sold 170,199 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 1,760,034 shares in the company, valued at approximately $66,406,082.82. The trade was a 8.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Neman sold 51,128 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $38.60, for a total transaction of $1,973,540.80. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $74,506,800.80. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 640,838 shares of company stock worth $24,800,733. 21.52% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. KeyCorp started coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating on the stock. UBS Group lifted their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Oppenheimer lifted their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company 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.