Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman Sells 20,937 Shares

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 20,937 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $40.03, for a total value of $838,108.11. Following the sale, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $77,267,026.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Jonathan Neman also recently made the following trade(s):

• On Monday, October 28th, Jonathan Neman sold 1,010 shares of Sweetgreen stock. The stock was sold at an average price of $40.01, for a total value of $40,410.10.
• 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 shares were sold at an average price of $35.77, for a total value of $6,072,744.44.

Sweetgreen Price Performance

NYSE SG opened at $39.69 on Friday. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $42.77. The stock’s 50-day moving average is $35.59 and its two-hundred day moving average is $31.40. The firm has a market cap of $4.53 billion, a P/E ratio of -48.40 and a beta of 2.32.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $184.60 million during the quarter, compared to analyst estimates of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.20) earnings per share. On average, equities analysts expect that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Driehaus Capital Management LLC grew its position in 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 acquired a new stake in Sweetgreen during the first quarter worth about $29,105,000. Allspring Global Investments Holdings LLC acquired a new stake in Sweetgreen during the second quarter worth about $33,449,000. Renaissance Technologies LLC acquired a new stake in Sweetgreen during the second quarter worth about $29,109,000. Finally, Baillie Gifford & Co. grew its position in Sweetgreen by 6.2% during the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after buying an additional 721,740 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SG has been the subject of a number of research analyst reports. 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. The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a report on Friday. Citigroup increased their target price on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. UBS Group increased their target price on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday. Finally, TD Cowen increased their target price on Sweetgreen from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.