Oliver Luxxe Assets LLC Acquires 2,196 Shares of Sweetgreen, Inc. (NYSE:SG)

Oliver Luxxe Assets LLC raised its holdings in Sweetgreen, Inc. (NYSE:SG) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,841 shares of the company’s stock after buying an additional 2,196 shares during the period. Oliver Luxxe Assets LLC owned about 0.05% of Sweetgreen worth $1,854,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Essex Investment Management Co. LLC lifted its position in Sweetgreen by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock valued at $3,993,000 after acquiring an additional 314 shares in the last quarter. Evolutionary Tree Capital Management LLC raised its stake in shares of Sweetgreen by 0.7% in the second quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock worth $1,982,000 after purchasing an additional 474 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Sweetgreen by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after purchasing an additional 537 shares in the last quarter. KBC Group NV lifted its holdings in shares of Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares in the last quarter. Finally, Pier Capital LLC boosted its position in shares of Sweetgreen by 0.3% during the third quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after buying an additional 761 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jonathan Neman sold 1,010 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $40.01, for a total value of $40,410.10. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $77,228,422.28. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 9,507 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $323,713.35. Following the sale, the chief financial officer now directly owns 360,177 shares in the company, valued at $12,264,026.85. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 640,838 shares of company stock valued at $24,800,733. 21.52% of the stock is owned by insiders.

Sweetgreen Stock Performance

NYSE:SG traded up $2.07 during trading hours on Monday, reaching $35.21. The stock had a trading volume of 2,190,460 shares, compared to its average volume of 2,017,216. The stock has a market cap of $4.07 billion, a P/E ratio of -45.14 and a beta of 2.32. The stock has a 50 day simple moving average of $37.27 and a 200 day simple moving average of $33.55. Sweetgreen, Inc. has a 12-month low of $9.66 and a 12-month high of $45.12.

Wall Street Analysts Forecast Growth

SG has been the topic of several recent analyst reports. UBS Group raised their price objective on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. TD Cowen reissued 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 reaffirmed a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. KeyCorp assumed coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating on the stock. Finally, Oppenheimer upped their target price on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sweetgreen has an average rating of “Moderate Buy” and an average target price 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.