Insider Selling: Sweetgreen, Inc. (NYSE:SG) Director Sells 4,464 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) Director Julie Bornstein sold 4,464 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $42.11, for a total transaction of $187,979.04. Following the transaction, the director now owns 32,637 shares in the company, valued at approximately $1,374,344.07. This represents a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Sweetgreen Stock Performance

Shares of SG opened at $42.39 on Thursday. The business’s 50-day moving average is $37.32 and its two-hundred day moving average is $32.73. The company has a market capitalization of $4.90 billion, a P/E ratio of -54.35 and a beta of 2.32. Sweetgreen, Inc. has a fifty-two week low of $9.31 and a fifty-two week high of $45.12.

Analyst Ratings Changes

Several research firms have issued reports on SG. Bank of America lifted their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Oppenheimer boosted their target price on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a research note on Friday, November 8th. Citigroup raised their price target on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, Morgan Stanley increased their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.80.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SG. Hollencrest Capital Management acquired a new stake in shares of Sweetgreen during the 3rd quarter worth approximately $35,000. Quest Partners LLC purchased a new position in shares of Sweetgreen in the 2nd quarter valued at about $76,000. KBC Group NV raised its holdings in Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares during the period. Daiwa Securities Group Inc. purchased a new position in Sweetgreen during the third quarter worth approximately $155,000. Finally, Canton Hathaway LLC acquired a new stake in Sweetgreen in the third quarter valued at approximately $177,000. 95.75% of the stock is owned by institutional investors and hedge funds.

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.