Bradley E. Singer Sells 7,270 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) Director Bradley E. Singer sold 7,270 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $39.70, for a total value of $288,619.00. Following the completion of the sale, the director now owns 181,782 shares in the company, valued at $7,216,745.40. This represents a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sweetgreen Price Performance

Sweetgreen stock opened at $33.51 on Monday. The stock’s 50-day moving average is $36.25 and its 200-day moving average is $31.93. The company has a market cap of $3.82 billion, a price-to-earnings ratio of -42.96 and a beta of 2.32. Sweetgreen, Inc. has a 12 month low of $9.21 and a 12 month high of $42.77.

Institutional Investors Weigh In On Sweetgreen

Large investors have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new stake in shares of Sweetgreen in the third quarter valued at about $35,000. Quest Partners LLC acquired a new stake in shares of Sweetgreen in the second quarter valued at about $76,000. KBC Group NV grew its stake in shares of Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after buying an additional 704 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Sweetgreen in the third quarter valued at about $155,000. Finally, Canton Hathaway LLC acquired a new stake in shares of Sweetgreen in the third quarter valued at about $177,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

SG has been the topic of several recent analyst reports. Piper Sandler reiterated a “neutral” rating and set a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Oppenheimer increased their target price on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Citigroup increased 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. Bank of America increased 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. Finally, UBS Group increased their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock 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.