Nicolas Jammet Sells 16,751 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 16,751 shares of Sweetgreen stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $40.04, for a total value of $670,710.04. Following the completion of the sale, the insider now owns 1,930,233 shares of the company’s stock, valued at $77,286,529.32. 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 available through the SEC website.

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

• On Friday, September 13th, Nicolas Jammet sold 21,275 shares of Sweetgreen stock. The shares were sold at an average price of $35.10, for a total transaction of $746,752.50.
• On Monday, August 26th, Nicolas Jammet sold 169,767 shares of Sweetgreen stock. The shares were sold at an average price of $35.77, for a total transaction of $6,072,565.59.

Sweetgreen Price Performance

Shares of NYSE:SG opened at $39.69 on Friday. The company has a market capitalization of $4.53 billion, a P/E ratio of -49.00 and a beta of 2.32. Sweetgreen, Inc. has a 1-year low of $8.64 and a 1-year high of $42.77. The firm’s 50 day simple moving average is $35.43 and its two-hundred day simple moving average is $31.21.

Sweetgreen (NYSE:SG) last released its 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 firm had revenue of $184.60 million for the quarter, compared to analysts’ expectations of $180.79 million. During the same quarter last year, the firm posted ($0.20) EPS. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SG shares. TD Cowen lifted 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. Citigroup lifted their price objective on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Oppenheimer increased their target price on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday. Piper Sandler restated a “neutral” rating and set a $39.00 price target (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Finally, Bank of America upped their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Sweetgreen presently has an average rating of “Moderate Buy” and a consensus price target of $39.80.

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently bought and sold shares of SG. Hollencrest Capital Management bought a new position in shares of Sweetgreen in the third quarter worth about $35,000. Quest Partners LLC purchased a new position in Sweetgreen in the 2nd quarter worth approximately $76,000. KBC Group NV lifted its holdings in Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares in the last quarter. Atomi Financial Group Inc. bought a new position in Sweetgreen in the 3rd quarter worth approximately $216,000. Finally, Precision Wealth Strategies LLC purchased a new stake in Sweetgreen during the 3rd quarter valued at approximately $227,000. 95.75% of the stock is owned by institutional investors.

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.