JPMorgan Chase & Co. Has $23.79 Million Position in Sweetgreen, Inc. (NYSE:SG)

JPMorgan Chase & Co. raised its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 37.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 671,045 shares of the company’s stock after acquiring an additional 181,805 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sweetgreen were worth $23,789,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Driehaus Capital Management LLC increased its position in shares of Sweetgreen by 231.8% during the 2nd 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 bought a new stake in shares of Sweetgreen during the second quarter worth $29,109,000. Stephens Investment Management Group LLC grew its holdings in Sweetgreen by 139.9% during the 3rd 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. Hood River Capital Management LLC increased its holdings in shares of Sweetgreen by 42.6% in the second quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company’s stock valued at $49,521,000 after purchasing an additional 490,806 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after buying an additional 272,340 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

Insider Buying and Selling at Sweetgreen

In other news, CEO Jonathan Neman sold 1,010 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total value of $40,410.10. Following the sale, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $77,228,422.28. This represents a 0.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adrienne Gemperle sold 5,372 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $3,654,007.65. This trade represents a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 640,838 shares of company stock worth $24,800,733. Insiders own 21.52% of the company’s stock.

Wall Street Analyst Weigh In

Several 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 research report on Monday, November 18th. KeyCorp began coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating on the stock. Oppenheimer lowered their target price on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday. UBS Group lifted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.40.

Sweetgreen Stock Up 0.8 %

Shares of SG stock opened at $32.18 on Thursday. Sweetgreen, Inc. has a 12 month low of $9.66 and a 12 month high of $45.12. The company’s fifty day simple moving average is $36.95 and its 200-day simple moving average is $33.60. The firm has a market cap of $3.72 billion, a PE ratio of -41.26 and a beta of 2.38.

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.