Sweetgreen, Inc. (NYSE:SG) Shares Bought by Versor Investments LP

Posted by Defense World Staff on Aug 9th, 2023

Versor Investments LP lifted its holdings in Sweetgreen, Inc. (NYSE:SG – Free Report) by 64.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,100 shares of the company’s stock after purchasing an additional 14,500 shares during the period. Versor Investments LP’s holdings in Sweetgreen were worth $291,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Paragon Advisors LLC acquired a new position in shares of Sweetgreen in the 1st quarter worth approximately $30,000. Clear Street Markets LLC acquired a new position in shares of Sweetgreen in the 4th quarter worth approximately $33,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Sweetgreen in the 4th quarter worth approximately $63,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Sweetgreen in the first quarter worth about $81,000. Finally, Mirova acquired a new position in shares of Sweetgreen in the fourth quarter worth about $86,000. Institutional investors and hedge funds own 72.54% of the company’s stock.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, insider James Mcphail sold 11,000 shares of Sweetgreen stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $14.76, for a total value of $162,360.00. Following the completion of the sale, the insider now directly owns 131,107 shares in the company, valued at $1,935,139.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Sweetgreen news, insider James Mcphail sold 11,000 shares of Sweetgreen stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $14.76, for a total value of $162,360.00. Following the completion of the sale, the insider now directly owns 131,107 shares in the company, valued at $1,935,139.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nathaniel Ru sold 50,000 shares of Sweetgreen stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $9.43, for a total transaction of $471,500.00. Following the completion of the transaction, the insider now directly owns 2,121,899 shares in the company, valued at approximately $20,009,507.57. The disclosure for this sale can be found here. Insiders sold 84,293 shares of company stock worth $855,067 over the last ninety days. 22.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on SG shares. Citigroup decreased their target price on shares of Sweetgreen from $10.00 to $9.00 in a report on Monday, April 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 target price on shares of Sweetgreen in a report on Monday, July 31st. TD Cowen decreased their target price on shares of Sweetgreen from $16.00 to $14.00 and set a “market perform” rating for the company in a report on Friday, July 28th. Bank of America upgraded shares of Sweetgreen from a “neutral” rating to a “buy” rating and raised their target price for the stock from $9.00 to $17.00 in a report on Thursday, July 6th. Finally, Piper Sandler upgraded shares of Sweetgreen from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $13.00 to $19.00 in a report on Monday, July 31st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Sweetgreen has a consensus rating of “Hold” and an average price target of $13.50.

Read Our Latest Stock Report on SG

Sweetgreen Stock Performance

SG stock opened at $14.55 on Wednesday. The stock has a market cap of $1.63 billion, a P/E ratio of -10.32 and a beta of 1.99. The firm has a 50 day simple moving average of $12.95 and a 200 day simple moving average of $10.11. Sweetgreen, Inc. has a 52 week low of $6.10 and a 52 week high of $21.66.

About Sweetgreen

(Free Report)

Sweetgreen, Inc, together with its subsidiaries, develops and operates fast-casual restaurants serving healthy foods prepared from seasonal and organic ingredients. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that can be redeemed in its restaurants.