Insider Selling: Sweetgreen, Inc. (NYSE:SG) CEO Sells 1,010 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 1,010 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $40.01, for a total transaction of $40,410.10. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $77,228,422.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 transaction of $597,061.60.
• On Monday, September 9th, Jonathan Neman sold 7,400 shares of Sweetgreen stock. The shares were sold at an average price of $28.81, for a total transaction 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 transaction of $6,072,744.44.

Sweetgreen Stock Performance

Shares of Sweetgreen stock opened at $38.03 on Friday. Sweetgreen, Inc. has a 52-week low of $8.64 and a 52-week high of $40.20. The firm has a 50-day moving average of $34.87 and a 200-day moving average of $30.67. The stock has a market cap of $4.34 billion, a PE ratio of -46.38 and a beta of 2.33.

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

Institutional Investors Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently bought and sold shares of the company. Essex Investment Management Co. LLC increased its stake in shares of Sweetgreen by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock valued at $3,993,000 after buying an additional 314 shares during the period. Evolutionary Tree Capital Management LLC increased its stake in shares of Sweetgreen by 0.7% in the second quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock valued at $1,982,000 after buying an additional 474 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Sweetgreen by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after buying an additional 537 shares during the period. Hollencrest Capital Management acquired a new position in shares of Sweetgreen in the third quarter valued at approximately $35,000. Finally, Principal Financial Group Inc. increased its stake in shares of Sweetgreen by 11.7% in the first quarter. Principal Financial Group Inc. now owns 12,762 shares of the company’s stock valued at $322,000 after buying an additional 1,337 shares during the period. Institutional investors own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SG. UBS Group upped their price objective on shares of Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley upped their price objective 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. Bank of America upped their price objective on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Piper Sandler reissued a “neutral” rating and issued a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Finally, Citigroup boosted their target price 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. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.