Sweetgreen, Inc. (NYSE:SG) Insider Sells $1,624,521.32 in Stock

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 41,999 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.68, for a total transaction of $1,624,521.32. Following the sale, the insider now directly owns 1,930,233 shares in the company, valued at $74,661,412.44. This trade represents a 2.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Nicolas Jammet also recently made the following trade(s):

• On Monday, November 25th, Nicolas Jammet sold 14,551 shares of Sweetgreen stock. The shares were sold at an average price of $45.00, for a total transaction of $654,795.00.
• On Wednesday, November 6th, Nicolas Jammet sold 16,751 shares of Sweetgreen stock. The stock was sold at an average price of $40.04, for a total value of $670,710.04.
• On Friday, September 13th, Nicolas Jammet sold 21,275 shares of Sweetgreen stock. The stock was sold at an average price of $35.10, for a total value of $746,752.50.

Sweetgreen Stock Performance

SG traded down $0.44 on Thursday, hitting $40.05. 1,625,765 shares of the company were exchanged, compared to its average volume of 2,862,873. Sweetgreen, Inc. has a 12 month low of $9.66 and a 12 month high of $45.12. The stock has a market capitalization of $4.63 billion, a PE ratio of -51.60 and a beta of 2.32. The firm has a fifty day simple moving average of $37.90 and a two-hundred day simple moving average of $33.09.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds have recently modified their holdings of the company. Baillie Gifford & Co. raised its holdings in shares of Sweetgreen by 6.2% during the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock valued at $371,516,000 after acquiring an additional 721,740 shares in the last quarter. Wellington Management Group LLP raised its holdings in Sweetgreen by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock worth $120,784,000 after purchasing an additional 236,874 shares in the last quarter. Driehaus Capital Management LLC lifted its position 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 purchasing an additional 1,878,216 shares during the period. State Street Corp lifted its position in shares of Sweetgreen by 3.2% in the 3rd quarter. State Street Corp now owns 2,263,025 shares of the company’s stock worth $80,224,000 after purchasing an additional 69,120 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Sweetgreen by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock valued at $79,757,000 after purchasing an additional 116,243 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on SG shares. Morgan Stanley boosted their price objective on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. UBS Group boosted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Oppenheimer upped their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Piper Sandler restated a “neutral” rating and set a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sweetgreen has a consensus rating of “Moderate Buy” and an average price target of $39.80.

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.