Mission Creek Capital Partners Inc. Invests $1.74 Million in Sweetgreen, Inc. (NYSE:SG)

Mission Creek Capital Partners Inc. acquired a new position in shares of Sweetgreen, Inc. (NYSE:SG) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 49,186 shares of the company’s stock, valued at approximately $1,744,000.

A number of other hedge funds have also bought and sold shares of SG. Hollencrest Capital Management purchased a new stake in shares of Sweetgreen in the third quarter worth approximately $35,000. Quest Partners LLC bought a new stake in shares of Sweetgreen during the second quarter worth $76,000. KBC Group NV boosted its stake in shares of Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Sweetgreen in the third quarter worth about $155,000. Finally, Canton Hathaway LLC purchased a new position in Sweetgreen in the 3rd quarter worth about $177,000. Institutional investors own 95.75% of the company’s stock.

Analysts Set New Price Targets

SG has been the subject of several research reports. Oppenheimer boosted their price objective on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Citigroup increased their price objective on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. UBS Group upped their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Piper Sandler restated a “neutral” rating and issued a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Sweetgreen presently has a consensus rating of “Moderate Buy” and an average price target of $39.80.

Insider Buying and Selling

In other Sweetgreen news, insider Adrienne Gemperle sold 5,372 shares of Sweetgreen stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $182,916.60. Following the completion of the transaction, the insider now owns 107,313 shares of the company’s stock, valued at approximately $3,654,007.65. The trade was a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nathaniel Ru sold 9,250 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $28.74, for a total transaction of $265,845.00. Following the completion of the transaction, the insider now owns 1,952,129 shares of the company’s stock, valued at approximately $56,104,187.46. This trade represents a 0.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,892 shares of company stock valued at $7,499,763 over the last 90 days. Insiders own 21.52% of the company’s stock.

Sweetgreen Stock Down 1.8 %

Shares of NYSE:SG opened at $38.53 on Wednesday. The business has a 50-day moving average price of $37.76 and a 200-day moving average price of $32.99. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of -49.40 and a beta of 2.32. Sweetgreen, Inc. has a 52-week low of $9.59 and a 52-week high of $45.12.

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.