Sweetgreen, Inc. (NYSE:SG) Insider Sells $670,710.04 in Stock

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 16,751 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.04, for a total transaction of $670,710.04. Following the transaction, the insider now directly owns 1,930,233 shares of the company’s stock, valued at $77,286,529.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Nicolas Jammet also recently made the following trade(s):

• On Friday, September 13th, Nicolas Jammet sold 21,275 shares of Sweetgreen stock. The shares were sold at an average price of $35.10, for a total transaction of $746,752.50.
• On Monday, August 26th, Nicolas Jammet sold 169,767 shares of Sweetgreen stock. The shares were sold at an average price of $35.77, for a total transaction of $6,072,565.59.

Sweetgreen Trading Down 5.9 %

Shares of SG opened at $39.69 on Friday. The firm’s 50-day moving average is $35.59 and its two-hundred day moving average is $31.40. Sweetgreen, Inc. has a twelve month low of $8.64 and a twelve month high of $42.77. The firm has a market capitalization of $4.53 billion, a P/E ratio of -48.40 and a beta of 2.32.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The firm had revenue of $184.60 million for the quarter, compared to analysts’ expectations of $180.79 million. During the same period last year, the firm earned ($0.20) EPS. The business’s quarterly revenue was up 21.0% on a year-over-year basis. Analysts predict that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research report on Friday. Citigroup boosted their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. TD Cowen raised their price target on Sweetgreen from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America lifted their target price on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, Piper Sandler reissued a “neutral” rating and set a $39.00 price target (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.80.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SG. Oliver Luxxe Assets LLC acquired a new position in Sweetgreen during the 3rd quarter worth $1,973,000. Sei Investments Co. acquired a new position in Sweetgreen during the 1st quarter worth $1,110,000. Davidson Kempner Capital Management LP grew its holdings in Sweetgreen by 40.1% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock worth $17,330,000 after acquiring an additional 164,600 shares in the last quarter. Zweig DiMenna Associates LLC acquired a new position in Sweetgreen during the 3rd quarter worth $3,329,000. Finally, Stephens Investment Management Group LLC grew its holdings in Sweetgreen by 139.9% during the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after acquiring an additional 547,816 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.