Insider Selling: Sweetgreen, Inc. (NYSE:SG) CEO Sells $136,064.60 in Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 5,717 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the sale, the chief executive officer now owns 1,810,263 shares in the company, valued at $43,084,259.40. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Sweetgreen Trading Up 2.2 %

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley dropped their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Piper Sandler dropped their price objective on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Oppenheimer dropped their price objective on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. TD Securities dropped their price objective on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, KeyCorp initiated coverage on Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating on the stock. 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 company presently has an average rating of “Moderate Buy” and an average price target of $36.27.

Hedge Funds Weigh In On Sweetgreen

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in Sweetgreen by 4.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company’s stock worth $936,000 after buying an additional 1,278 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Sweetgreen during the fourth quarter worth approximately $5,492,000. Forum Financial Management LP grew its position in Sweetgreen by 17.5% during the fourth quarter. Forum Financial Management LP now owns 8,112 shares of the company’s stock worth $260,000 after buying an additional 1,209 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Sweetgreen during the fourth quarter worth approximately $395,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Sweetgreen by 18.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,552 shares of the company’s stock worth $7,263,000 after buying an additional 35,276 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.