Insider Selling: Sweetgreen, Inc. (NYSE:SG) Insider Sells 1,263 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) insider Nathaniel Ru sold 1,263 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $40.01, for a total transaction of $50,532.63. Following the transaction, the insider now directly owns 1,952,129 shares in the company, valued at approximately $78,104,681.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Nathaniel Ru also recently made the following trade(s):

• On Monday, September 9th, Nathaniel Ru sold 9,250 shares of Sweetgreen stock. The stock was sold at an average price of $28.74, for a total transaction of $265,845.00.

Sweetgreen Price Performance

SG stock opened at $38.03 on Friday. Sweetgreen, Inc. has a 1-year low of $8.64 and a 1-year high of $40.20. The firm has a fifty day moving average price of $34.87 and a two-hundred day moving average price of $30.67. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of -46.38 and a beta of 2.33.

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

Hedge Funds Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hollencrest Capital Management acquired a new position in shares of Sweetgreen during the third quarter valued at $35,000. Moloney Securities Asset Management LLC boosted its holdings in shares of Sweetgreen by 40.0% during the third quarter. Moloney Securities Asset Management LLC now owns 11,900 shares of the company’s stock valued at $422,000 after acquiring an additional 3,400 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Sweetgreen by 670.0% during the third quarter. Harbor Capital Advisors Inc. now owns 143,441 shares of the company’s stock valued at $5,085,000 after acquiring an additional 124,813 shares during the period. Optas LLC boosted its holdings in shares of Sweetgreen by 9.1% during the third quarter. Optas LLC now owns 16,778 shares of the company’s stock valued at $595,000 after acquiring an additional 1,395 shares during the period. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Sweetgreen by 139.9% during the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after acquiring an additional 547,816 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

SG has been the subject of a number of research analyst reports. TD Cowen restated a “buy” rating and issued a $43.00 price target on shares of Sweetgreen in a research note on Friday, September 27th. Citigroup lifted their price target on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Bank of America lifted their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Morgan Stanley lifted their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, Piper Sandler restated a “neutral” rating and issued a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.20.

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.