Sweetgreen, Inc. (NYSE:SG) CEO Sells $838,108.11 in Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 20,937 shares of the business’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 owns 1,930,228 shares in the company, valued at approximately $77,267,026.84. 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 this link.

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 shares were 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

SG opened at $39.69 on Friday. Sweetgreen, Inc. has a 12 month low of $8.64 and a 12 month high of $42.77. The stock has a market cap of $4.53 billion, a P/E ratio of -48.40 and a beta of 2.32. The stock’s 50 day moving average price is $35.59 and its 200 day moving average price is $31.40.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SG shares. Oppenheimer boosted their price target on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday. Piper Sandler reaffirmed 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. Morgan Stanley upped their target price on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Citigroup upped their target price on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Finally, Bank of America upped their target price on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.80.

Institutional Trading of Sweetgreen

Large investors have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC boosted its stake in Sweetgreen by 231.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock valued at $81,028,000 after purchasing an additional 1,878,216 shares in the last quarter. Hood River Capital Management LLC bought a new position in Sweetgreen during the 1st quarter valued at $29,105,000. Allspring Global Investments Holdings LLC bought a new position in Sweetgreen during the 2nd quarter valued at $33,449,000. Renaissance Technologies LLC bought a new position in Sweetgreen during the 2nd quarter valued at $29,109,000. Finally, Baillie Gifford & Co. boosted its stake in Sweetgreen by 6.2% during the 2nd 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 in the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.