Jonathan Neman Sells 7,400 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 7,400 shares of Sweetgreen stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $28.81, for a total transaction of $213,194.00. Following the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $55,609,868.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Jonathan Neman also recently made the following trade(s):

• On Monday, August 26th, Jonathan Neman sold 169,772 shares of Sweetgreen stock. The stock was sold at an average price of $35.77, for a total transaction of $6,072,744.44.

Sweetgreen Stock Up 6.2 %

SG opened at $32.21 on Thursday. The company has a market cap of $3.68 billion, a PE ratio of -34.63 and a beta of 2.32. Sweetgreen, Inc. has a twelve month low of $8.64 and a twelve month high of $38.53. The company has a 50-day moving average price of $29.19 and a 200 day moving average price of $26.87.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $184.60 million for the quarter, compared to analyst estimates of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. Sweetgreen’s revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.20) EPS. As a group, sell-side analysts expect that Sweetgreen, Inc. will post -0.75 earnings per share for the current year.

Institutional Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC raised its position in shares of Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock valued at $81,028,000 after buying an additional 1,878,216 shares during the last quarter. Hood River Capital Management LLC acquired a new stake in Sweetgreen in the 1st quarter valued at about $29,105,000. Allspring Global Investments Holdings LLC purchased a new position in Sweetgreen in the 2nd quarter worth approximately $33,449,000. Renaissance Technologies LLC acquired a new position in shares of Sweetgreen during the 2nd quarter worth approximately $29,109,000. Finally, Teca Partners LP purchased a new stake in shares of Sweetgreen in the fourth quarter valued at approximately $8,475,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analysts Set New Price Targets

SG has been the subject of several analyst reports. UBS Group boosted their price objective on Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 9th. William Blair reissued an “outperform” rating on shares of Sweetgreen in a report on Wednesday, May 15th. The Goldman Sachs Group started coverage on shares of Sweetgreen in a report on Thursday, June 13th. They issued a “buy” rating and a $39.00 price objective for the company. Citigroup upped their price objective 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, Bank of America raised 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

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.