Sweetgreen, Inc. (NYSE:SG) COO Sells $118,452.60 in Stock

Sweetgreen, Inc. (NYSE:SG) COO Rossann Williams sold 4,977 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $118,452.60. Following the transaction, the chief operating officer now owns 95,516 shares in the company, valued at $2,273,280.80. This represents a 4.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Sweetgreen Stock Up 2.2 %

Sweetgreen stock opened at $24.44 on Friday. The stock has a 50-day simple moving average of $27.46 and a 200 day simple moving average of $33.04. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -31.33 and a beta of 2.44. Sweetgreen, Inc. has a 12-month low of $18.77 and a 12-month high of $45.12.

Analyst Ratings Changes

A number of brokerages recently commented on SG. Morgan Stanley cut their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. UBS Group dropped their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Piper Sandler reduced their price objective on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group lowered their target price on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.27.

Hedge Funds Weigh In On Sweetgreen

Institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in shares of Sweetgreen by 3.4% during the fourth quarter. FMR LLC now owns 10,103,969 shares of the company’s stock valued at $323,933,000 after purchasing an additional 329,789 shares during the last quarter. Vanguard Group Inc. boosted its position in Sweetgreen by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock valued at $306,009,000 after buying an additional 351,240 shares during the last quarter. Invesco Ltd. increased its stake in shares of Sweetgreen by 40.9% in the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock valued at $176,850,000 after buying an additional 1,601,666 shares during the period. Wellington Management Group LLP raised its position in shares of Sweetgreen by 30.1% during the fourth quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock worth $142,106,000 after acquiring an additional 1,025,341 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in Sweetgreen by 13.3% in the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after acquiring an additional 272,340 shares during the last quarter. 95.75% of the stock is owned by institutional investors.

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.