Sweetgreen, Inc. (NYSE:SG) Director Sells $187,979.04 in Stock

Sweetgreen, Inc. (NYSE:SG) Director Julie Bornstein sold 4,464 shares of Sweetgreen stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $42.11, for a total value of $187,979.04. Following the completion of the transaction, the director now directly owns 32,637 shares in the company, valued at approximately $1,374,344.07. This represents a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Sweetgreen Price Performance

Shares of Sweetgreen stock opened at $40.98 on Friday. The business has a 50-day simple moving average of $37.69 and a 200 day simple moving average of $32.93. Sweetgreen, Inc. has a one year low of $9.31 and a one year high of $45.12. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of -52.54 and a beta of 2.32.

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC increased its position in shares of Sweetgreen by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock worth $3,993,000 after acquiring an additional 314 shares in the last quarter. Evolutionary Tree Capital Management LLC increased its holdings in Sweetgreen by 0.7% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock worth $1,982,000 after purchasing an additional 474 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Sweetgreen by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after purchasing an additional 537 shares during the last quarter. KBC Group NV lifted its holdings in shares of Sweetgreen by 29.1% in 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 in the last quarter. Finally, Pier Capital LLC boosted its position in shares of Sweetgreen by 0.3% during the third quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after buying an additional 761 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analyst Weigh In

SG has been the subject of several analyst reports. Oppenheimer raised their price target on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. TD Cowen reissued a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. Morgan Stanley increased their price target on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, Piper Sandler reissued a “neutral” rating and issued a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research note 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.80.

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.