Tidal Investments LLC Has $9.58 Million Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

Tidal Investments LLC raised its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 848.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 270,141 shares of the company’s stock after acquiring an additional 241,652 shares during the quarter. Tidal Investments LLC owned approximately 0.23% of Sweetgreen worth $9,576,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SG. GLOBALT Investments LLC GA acquired a new stake in Sweetgreen during the 3rd quarter valued at $591,000. Oliver Luxxe Assets LLC bought a new position in Sweetgreen in the third quarter valued at about $1,973,000. Verition Fund Management LLC lifted its stake in Sweetgreen by 189.6% in the 3rd quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock valued at $6,151,000 after purchasing an additional 113,586 shares during the last quarter. Davidson Kempner Capital Management LP boosted its holdings in shares of Sweetgreen by 40.1% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock valued at $17,330,000 after acquiring an additional 164,600 shares in the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Sweetgreen in the third quarter valued at approximately $3,329,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Price Performance

Shares of SG opened at $37.73 on Friday. The firm has a market capitalization of $4.36 billion, a P/E ratio of -48.37 and a beta of 2.32. The business has a fifty day moving average of $38.36 and a 200 day moving average of $33.36. Sweetgreen, Inc. has a one year low of $9.66 and a one year high of $45.12.

Analyst Ratings Changes

Several research firms have recently weighed in on SG. Piper Sandler reissued a “neutral” rating and issued a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. KeyCorp initiated coverage on shares of Sweetgreen in a report on Wednesday. They set a “sector weight” rating on the stock. Oppenheimer upped their price objective on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. Finally, UBS Group lifted their price objective 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. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.80.

Insider Activity

In other news, CEO Jonathan Neman sold 1,010 shares of the firm’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 completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $77,228,422.28. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nathaniel Ru sold 1,263 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $50,532.63. Following the completion of the sale, the insider now owns 1,952,129 shares in the company, valued at approximately $78,104,681.29. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 470,639 shares of company stock worth $18,379,124 over the last ninety days. Corporate insiders own 21.52% of the company’s stock.

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.