Sweetgreen, Inc. (NYSE:SG) CEO Sells $40,410.10 in Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 1,010 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $40,410.10. Following the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $77,228,422.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, September 13th, Jonathan Neman sold 17,020 shares of Sweetgreen stock. The stock was sold at an average price of $35.08, for a total value of $597,061.60.
• On Monday, September 9th, Jonathan Neman sold 7,400 shares of Sweetgreen stock. The stock was sold at an average price of $28.81, for a total value of $213,194.00.
• 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 value of $6,072,744.44.

Sweetgreen Stock Down 2.7 %

Sweetgreen stock traded down $1.03 during trading hours on Wednesday, hitting $37.48. The stock had a trading volume of 1,755,942 shares, compared to its average volume of 2,817,142. The company has a 50-day moving average of $34.78 and a two-hundred day moving average of $30.46. The company has a market cap of $4.28 billion, a PE ratio of -46.95 and a beta of 2.33. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $40.20.

Sweetgreen (NYSE:SG) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $184.60 million during 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%. The company’s revenue was up 21.0% on a year-over-year basis. During the same period last year, the company earned ($0.20) EPS. As a group, analysts forecast that Sweetgreen, Inc. will post -0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Morgan Stanley upped their price target on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. TD Cowen reiterated a “buy” rating and set a $43.00 price target on shares of Sweetgreen in a research note on Friday, September 27th. Piper Sandler restated a “neutral” rating and set a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. UBS Group increased their target price on Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Citigroup increased their target price on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.20.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. raised its holdings in shares of Sweetgreen by 6.2% in the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after buying an additional 721,740 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Sweetgreen by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock worth $212,713,000 after buying an additional 70,395 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Sweetgreen by 231.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after buying an additional 1,878,216 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Sweetgreen by 2.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock worth $53,151,000 after buying an additional 39,823 shares in the last quarter. Finally, Hood River Capital Management LLC grew its position in Sweetgreen by 42.6% during the 2nd quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company’s stock worth $49,521,000 after acquiring an additional 490,806 shares during the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

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.