Harbor Capital Advisors Inc. Has $5.46 Million Stake in Sweetgreen, Inc. (NYSE:SG)

Harbor Capital Advisors Inc. boosted its holdings in Sweetgreen, Inc. (NYSE:SG) by 18.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,172 shares of the company’s stock after purchasing an additional 26,731 shares during the period. Harbor Capital Advisors Inc. owned about 0.15% of Sweetgreen worth $5,456,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Sweetgreen

In other news, Director Bradley E. Singer sold 7,270 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $39.70, for a total transaction of $288,619.00. Following the completion of the sale, the director now owns 181,782 shares of the company’s stock, valued at approximately $7,216,745.40. This represents a 3.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Adrienne Gemperle sold 5,372 shares of Sweetgreen stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $182,916.60. Following the completion of the transaction, the insider now directly owns 107,313 shares in the company, valued at $3,654,007.65. This trade represents a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 640,838 shares of company stock worth $24,800,733. Company insiders own 21.52% of the company’s stock.

Sweetgreen Stock Up 2.7 %

NYSE SG opened at $33.11 on Friday. The firm has a 50-day moving average price of $36.78 and a two-hundred day moving average price of $33.62. Sweetgreen, Inc. has a 12-month low of $9.66 and a 12-month high of $45.12. The company has a market capitalization of $3.83 billion, a P/E ratio of -42.45 and a beta of 2.38.

Analysts Set New Price Targets

SG has been the topic of several research analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. UBS Group increased their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. KeyCorp began coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating for the company. Oppenheimer dropped their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, TD Cowen reaffirmed a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.10.

About Sweetgreen

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.