Handelsbanken Fonder AB Has $769,000 Stake in Sweetgreen, Inc. (NYSE:SG)

Handelsbanken Fonder AB raised its position in shares of Sweetgreen, Inc. (NYSE:SG) by 41.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,000 shares of the company’s stock after acquiring an additional 7,000 shares during the period. Handelsbanken Fonder AB’s holdings in Sweetgreen were worth $769,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. GLOBALT Investments LLC GA bought a new stake in Sweetgreen during the third quarter valued at about $591,000. Verition Fund Management LLC boosted its holdings in Sweetgreen by 189.6% during the third quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock valued at $6,151,000 after acquiring an additional 113,586 shares during the period. Stephens Investment Management Group LLC boosted its holdings in Sweetgreen by 139.9% during the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after acquiring an additional 547,816 shares during the period. Cox Capital Mgt LLC lifted its stake in shares of Sweetgreen by 76.0% in the fourth quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company’s stock valued at $1,728,000 after buying an additional 23,278 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Sweetgreen by 670.0% in the third quarter. Harbor Capital Advisors Inc. now owns 143,441 shares of the company’s stock valued at $5,085,000 after buying an additional 124,813 shares during the period. 95.75% of the stock is currently owned by institutional investors.

Sweetgreen Price Performance

Shares of Sweetgreen stock opened at $22.67 on Friday. The firm has a market cap of $2.62 billion, a P/E ratio of -29.07 and a beta of 2.37. The firm has a 50 day simple moving average of $29.99 and a 200 day simple moving average of $34.09. Sweetgreen, Inc. has a fifty-two week low of $12.32 and a fifty-two week high of $45.12.

Insider Activity at Sweetgreen

In related news, CEO Jonathan Neman sold 41,805 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.61, for a total value of $1,614,091.05. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $74,526,103.08. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicolas Jammet sold 170,199 shares of the firm’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 transaction of $6,421,608.27. Following the completion of the sale, the insider now directly owns 1,760,034 shares of the company’s stock, valued at approximately $66,406,082.82. This represents a 8.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 516,817 shares of company stock valued at $19,677,637 over the last quarter. Corporate insiders own 21.52% of the company’s stock.

Analyst Upgrades and Downgrades

SG has been the subject of several research reports. Piper Sandler reduced their target price on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday. UBS Group cut their price target on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday. The Goldman Sachs Group cut their price target on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday. Citigroup cut their price target on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday. Finally, TD Cowen restated a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a research note on Monday, November 18th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Sweetgreen has a consensus rating of “Moderate Buy” and a consensus price target of $36.27.

Sweetgreen Company 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.