Mission Creek Capital Partners Inc. Makes New Investment in Sweetgreen, Inc. (NYSE:SG)

Mission Creek Capital Partners Inc. purchased a new stake in Sweetgreen, Inc. (NYSE:SG) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 49,186 shares of the company’s stock, valued at approximately $1,744,000.

Several other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its stake in shares of Sweetgreen by 6.2% in the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after acquiring an additional 721,740 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in shares of 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 buying an additional 1,878,216 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Sweetgreen by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock valued at $53,151,000 after acquiring an additional 39,823 shares in the last quarter. Hood River Capital Management LLC raised its holdings in Sweetgreen by 42.6% in 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Sweetgreen by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,258,484 shares of the company’s stock worth $44,613,000 after purchasing an additional 148,684 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Stock Down 1.8 %

Shares of SG stock opened at $38.53 on Wednesday. The firm has a 50 day moving average of $37.76 and a two-hundred day moving average of $32.99. The stock has a market capitalization of $4.46 billion, a PE ratio of -49.40 and a beta of 2.32. Sweetgreen, Inc. has a 52 week low of $9.59 and a 52 week high of $45.12.

Insider Activity

In other news, insider Adrienne Gemperle sold 5,372 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $182,916.60. Following the completion of the sale, the insider now owns 107,313 shares in the company, valued at approximately $3,654,007.65. The trade was a 4.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan Neman sold 1,010 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $40.01, for a total transaction of $40,410.10. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $77,228,422.28. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,892 shares of company stock worth $7,499,763. Corporate insiders own 21.52% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. TD Cowen reiterated a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. UBS Group boosted 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. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. Oppenheimer upped their price target on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Piper Sandler reissued a “neutral” rating and set a $39.00 price objective (up 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 stock currently has an average rating of “Moderate Buy” and a consensus 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.