Sweetgreen, Inc. (NYSE:SG) CTO Sells $148,015.35 in Stock

Sweetgreen, Inc. (NYSE:SG) CTO Wouleta Ayele sold 4,347 shares of the firm’s 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 $148,015.35. Following the sale, the chief technology officer now directly owns 140,302 shares of the company’s stock, valued at $4,777,283.10. This trade represents a 3.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Sweetgreen Price Performance

Shares of Sweetgreen stock traded up $4.06 during trading hours on Tuesday, reaching $37.89. The company’s stock had a trading volume of 3,069,451 shares, compared to its average volume of 2,880,745. The firm has a 50 day moving average price of $36.35 and a 200-day moving average price of $32.02. The stock has a market cap of $4.38 billion, a P/E ratio of -46.64 and a beta of 2.32. Sweetgreen, Inc. has a one year low of $9.21 and a one year high of $42.77.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Sweetgreen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank grew its stake in Sweetgreen by 0.9% in the 1st quarter. Swiss National Bank now owns 176,600 shares of the company’s stock worth $4,461,000 after acquiring an additional 1,500 shares in the last quarter. Sei Investments Co. purchased a new stake in Sweetgreen in the first quarter valued at $1,110,000. ProShare Advisors LLC raised its position in Sweetgreen by 9.9% during the first quarter. ProShare Advisors LLC now owns 17,584 shares of the company’s stock valued at $444,000 after acquiring an additional 1,585 shares in the last quarter. Blair William & Co. IL boosted its position in Sweetgreen by 26.8% in the 1st quarter. Blair William & Co. IL now owns 13,140 shares of the company’s stock worth $332,000 after purchasing an additional 2,774 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Sweetgreen by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock valued at $212,713,000 after buying an additional 70,395 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

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.