Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman Sells 1,010 Shares

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 1,010 shares of Sweetgreen stock in a transaction that occurred on 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 in the company, valued at $77,228,422.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 Trading Down 2.7 %

SG traded down $1.03 during trading hours on Wednesday, hitting $37.48. The company’s stock had a trading volume of 1,755,942 shares, compared to its average volume of 2,817,142. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $40.20. The company has a 50-day simple moving average of $34.78 and a 200 day simple moving average of $30.46. The firm has a market capitalization of $4.28 billion, a PE ratio of -46.95 and a beta of 2.33.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $180.79 million. During the same quarter in the prior year, the firm posted ($0.20) EPS. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. Research analysts expect that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quest Partners LLC purchased a new position in Sweetgreen in the second quarter valued at about $76,000. Atomi Financial Group Inc. purchased a new position in Sweetgreen in the third quarter valued at about $216,000. Versor Investments LP purchased a new position in Sweetgreen in the second quarter valued at about $217,000. Precision Wealth Strategies LLC purchased a new position in Sweetgreen in the third quarter valued at about $227,000. Finally, LVW Advisors LLC purchased a new position in Sweetgreen in the third quarter valued at about $229,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SG shares. UBS Group boosted their price target on Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 9th. Oppenheimer boosted their price target on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Citigroup boosted their price target on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Piper Sandler reiterated a “neutral” rating and issued a $39.00 price target (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Finally, Bank of America boosted 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Sweetgreen currently has a consensus rating of “Moderate Buy” and an average price target of $38.20.

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.