Insider Selling: Sweetgreen, Inc. (NYSE:SG) CEO Sells 169,772 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 169,772 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $69,044,255.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, June 5th, Jonathan Neman sold 150,000 shares of Sweetgreen stock. The stock was sold at an average price of $30.50, for a total transaction of $4,575,000.00.

Sweetgreen Price Performance

SG opened at $31.58 on Friday. Sweetgreen, Inc. has a 12 month low of $8.64 and a 12 month high of $38.53. The business has a 50 day simple moving average of $29.01 and a 200-day simple moving average of $25.64. The stock has a market capitalization of $3.58 billion, a P/E ratio of -33.96 and a beta of 2.30.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SG shares. JPMorgan Chase & Co. upped their price target on Sweetgreen from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, June 14th. William Blair reiterated an “outperform” rating on shares of Sweetgreen in a research report on Wednesday, May 15th. Piper Sandler reissued a “neutral” rating and set a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. TD Cowen upped their target price on shares of Sweetgreen from $26.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, June 13th. Finally, The Goldman Sachs Group began coverage on shares of Sweetgreen in a research note on Thursday, June 13th. They set a “buy” rating and a $39.00 target price for the company. 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, Sweetgreen presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quest Partners LLC acquired a new stake in Sweetgreen during the 2nd quarter valued at $76,000. Triumph Capital Management acquired a new position in shares of Sweetgreen in the fourth quarter valued at approximately $126,000. Handelsbanken Fonder AB purchased a new position in shares of Sweetgreen during the fourth quarter valued at approximately $137,000. Versor Investments LP acquired a new stake in Sweetgreen during the second quarter worth approximately $217,000. Finally, Perigon Wealth Management LLC purchased a new stake in Sweetgreen in the 1st quarter worth approximately $223,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.