Canton Hathaway LLC Acquires New Shares in Sweetgreen, Inc. (NYSE:SG)

by · The Markets Daily

Canton Hathaway LLC acquired a new position in Sweetgreen, Inc. (NYSE:SG – Free Report) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $177,000.

Other hedge funds have also bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in shares of Sweetgreen during the 3rd quarter valued at about $35,000. Quest Partners LLC bought a new position in Sweetgreen during the second quarter valued at approximately $76,000. KBC Group NV boosted its holdings in Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Sweetgreen in the third quarter worth approximately $155,000. Finally, Atomi Financial Group Inc. bought a new stake in Sweetgreen in the 3rd quarter worth approximately $216,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Trading Up 1.4 %

SG opened at $44.00 on Monday. The company has a 50 day simple moving average of $36.93 and a two-hundred day simple moving average of $32.51. Sweetgreen, Inc. has a 1-year low of $9.21 and a 1-year high of $44.75.

Analysts Set New Price Targets

Several research firms have recently weighed in on SG. Oppenheimer increased their price target on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Piper Sandler reissued a “neutral” rating and issued a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. TD Cowen reissued a “buy” rating and issued a $45.00 target price on shares of Sweetgreen in a research report on Monday, November 18th. Morgan Stanley upped their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, Citigroup increased their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.80.

Check Out Our Latest Stock Analysis on SG

Insider Buying and Selling

In related news, insider Nathaniel Ru sold 9,250 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $28.74, for a total value of $265,845.00. Following the transaction, the insider now directly owns 1,952,129 shares of the company’s stock, valued at approximately $56,104,187.46. The trade was a 0.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Neman sold 7,400 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $28.81, for a total value of $213,194.00. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $55,609,868.68. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,132 shares of company stock valued at $5,993,464. Company insiders own 21.52% of the company’s stock.

Sweetgreen Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding SG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sweetgreen, Inc. (NYSE:SG – Free Report).