FORA Capital LLC Buys 18,512 Shares of Sweetgreen, Inc. (NYSE:SG)

FORA Capital LLC increased its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 49.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,775 shares of the company’s stock after purchasing an additional 18,512 shares during the quarter. FORA Capital LLC’s holdings in Sweetgreen were worth $1,977,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Essex Investment Management Co. LLC boosted its stake in shares of Sweetgreen by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock valued at $3,993,000 after purchasing an additional 314 shares in the last quarter. Evolutionary Tree Capital Management LLC raised its holdings in Sweetgreen by 0.7% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock valued at $1,982,000 after buying an additional 474 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Sweetgreen by 2.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after buying an additional 537 shares during the period. KBC Group NV grew its holdings in Sweetgreen by 29.1% during 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 during the last quarter. Finally, Hollencrest Capital Management acquired a new position in Sweetgreen in the 3rd quarter valued at approximately $35,000. Institutional investors own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SG. TD Cowen reiterated a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. Bank of America lifted their target price on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Morgan Stanley increased their price target on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. Finally, Oppenheimer increased their target price 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. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.80.

Insider Buying and Selling

In other news, insider Nathaniel Ru sold 9,250 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $28.74, for a total transaction of $265,845.00. Following the transaction, the insider now owns 1,952,129 shares in the company, valued at approximately $56,104,187.46. This represents a 0.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Neman sold 7,400 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $28.81, for a total transaction of $213,194.00. Following the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $55,609,868.68. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,892 shares of company stock valued at $7,499,763 over the last ninety days. 21.52% of the stock is owned by corporate insiders.

Sweetgreen Stock Down 2.0 %

Shares of SG stock opened at $42.39 on Thursday. The firm has a 50 day moving average of $37.32 and a 200-day moving average of $32.73. The company has a market cap of $4.90 billion, a price-to-earnings ratio of -54.35 and a beta of 2.32. Sweetgreen, Inc. has a 52 week low of $9.31 and a 52 week high of $45.12.

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.