Sweetgreen, Inc. (NYSE:SG) CEO Sells $1,343,111.04 in Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 33,444 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $40.16, for a total value of $1,343,111.04. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at $77,517,956.48. The trade was a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Jonathan Neman also recently made the following trade(s):

• On Tuesday, December 3rd, Jonathan Neman sold 41,805 shares of Sweetgreen stock. The stock was sold at an average price of $38.61, for a total value of $1,614,091.05.
• On Monday, November 25th, Jonathan Neman sold 14,745 shares of Sweetgreen stock. The shares were sold at an average price of $45.00, for a total value of $663,525.00.
• On Wednesday, November 6th, Jonathan Neman sold 20,937 shares of Sweetgreen stock. The stock was sold at an average price of $40.03, for a total transaction of $838,108.11.
• 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 transaction 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 transaction of $597,061.60.

Sweetgreen Stock Performance

Shares of SG stock traded down $4.38 on Monday, hitting $37.66. The stock had a trading volume of 4,400,533 shares, compared to its average volume of 2,867,440. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of -47.92 and a beta of 2.32. The stock’s 50 day moving average is $38.12 and its 200-day moving average is $33.22. Sweetgreen, Inc. has a 52-week low of $9.66 and a 52-week high of $45.12.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SG. Hollencrest Capital Management acquired a new stake in shares of Sweetgreen during the 3rd quarter worth approximately $35,000. Quest Partners LLC bought a new position in Sweetgreen in the second quarter valued at approximately $76,000. KBC Group NV increased its stake in shares of Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after acquiring an additional 704 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Sweetgreen during the third quarter worth about $155,000. Finally, Canton Hathaway LLC acquired a new position in Sweetgreen in the 3rd quarter worth $177,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Piper Sandler restated a “neutral” rating and set a $39.00 price target (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. 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. TD Cowen reissued a “buy” rating and issued a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. UBS Group increased their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Oppenheimer upped their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.80.

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.