Insider Selling: Sweetgreen, Inc. (NYSE:SG) Director Sells 42,730 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) Director Bradley E. Singer sold 42,730 shares of Sweetgreen stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $38.09, for a total value of $1,627,585.70. Following the transaction, the director now directly owns 139,052 shares in the company, valued at approximately $5,296,490.68. This trade represents a 23.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sweetgreen Trading Up 0.1 %

Shares of NYSE SG traded up $0.02 during trading on Wednesday, reaching $37.91. The company had a trading volume of 2,304,250 shares, compared to its average volume of 2,878,212. Sweetgreen, Inc. has a twelve month low of $9.21 and a twelve month high of $42.77. The stock has a 50-day moving average price of $36.50 and a two-hundred day moving average price of $32.13. The stock has a market capitalization of $4.39 billion, a PE ratio of -48.58 and a beta of 2.32.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SG shares. Citigroup lifted their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Morgan Stanley lifted their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. TD Cowen reissued a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday. UBS Group boosted their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Bank of America raised their price target on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC grew its holdings in shares of Sweetgreen by 231.8% during the second 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. Hood River Capital Management LLC purchased a new stake in Sweetgreen in the 1st quarter worth approximately $29,105,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Sweetgreen during the 2nd quarter worth $33,449,000. Renaissance Technologies LLC acquired a new stake in shares of Sweetgreen during the second quarter worth $29,109,000. Finally, Baillie Gifford & Co. grew its position in shares of Sweetgreen by 6.2% in the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock valued at $371,516,000 after purchasing an additional 721,740 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.