Sweetgreen, Inc. (NYSE:SG) Insider Nicolas Jammet Sells 21,275 Shares

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 21,275 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $35.10, for a total transaction of $746,752.50. Following the sale, the insider now owns 1,930,233 shares of the company’s stock, valued at approximately $67,751,178.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 SG traded down $0.41 during midday trading on Tuesday, hitting $33.74. 2,102,335 shares of the company traded hands, compared to its average volume of 2,847,830. Sweetgreen, Inc. has a one year low of $8.64 and a one year high of $38.53. The firm has a market cap of $3.82 billion, a P/E ratio of -36.72 and a beta of 2.32. The stock has a 50-day moving average of $29.61 and a 200-day moving average of $27.44.

Sweetgreen (NYSE:SG) last posted 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 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 last year, the company posted ($0.20) EPS. The business’s revenue was up 21.0% on a year-over-year basis. Sell-side analysts forecast that Sweetgreen, Inc. will post -0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. The Goldman Sachs Group began coverage on Sweetgreen in a research note on Thursday, June 13th. They issued a “buy” rating and a $39.00 price objective on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. JPMorgan Chase & Co. lifted their price objective on Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Oppenheimer upped their price objective on shares of Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, TD Cowen upgraded shares of Sweetgreen from a “hold” rating to a “buy” rating and increased their target price for the stock from $31.00 to $43.00 in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.20.

Institutional Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently made changes to their positions in the business. Boulder Hill Capital Management LP purchased a new position in shares of Sweetgreen during the fourth quarter worth about $868,000. Conrad N. Hilton Foundation bought a new stake in Sweetgreen during the fourth quarter valued at approximately $434,000. Sei Investments Co. purchased a new position in Sweetgreen in the 1st quarter worth approximately $1,110,000. Vanguard Group Inc. grew its stake in Sweetgreen by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock worth $94,361,000 after buying an additional 224,522 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Sweetgreen in the 1st quarter worth $490,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.