Insider Selling: Sweetgreen, Inc. (NYSE:SG) Director Sells 7,270 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) Director Bradley E. Singer sold 7,270 shares of Sweetgreen stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $39.70, for a total transaction of $288,619.00. Following the transaction, the director now owns 181,782 shares in the company, valued at approximately $7,216,745.40. The trade was a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Sweetgreen Price Performance

NYSE SG opened at $33.51 on Friday. Sweetgreen, Inc. has a fifty-two week low of $9.21 and a fifty-two week high of $42.77. The stock’s 50-day moving average is $36.25 and its two-hundred day moving average is $31.79. The firm has a market cap of $3.82 billion, a P/E ratio of -42.96 and a beta of 2.32.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oliver Luxxe Assets LLC bought a new stake in shares of Sweetgreen in the 3rd quarter valued at approximately $1,973,000. Sei Investments Co. bought a new stake in Sweetgreen in the first quarter valued at $1,110,000. Davidson Kempner Capital Management LP raised its stake in Sweetgreen by 40.1% during the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock worth $17,330,000 after acquiring an additional 164,600 shares in the last quarter. Zweig DiMenna Associates LLC bought a new position in shares of Sweetgreen during the third quarter valued at $3,329,000. Finally, Stephens Investment Management Group LLC lifted 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. 95.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SG. Piper Sandler restated 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 increased their target price on shares of Sweetgreen from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Oppenheimer boosted their price target on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Bank of America increased their price objective on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.