Insider Selling: Sweetgreen, Inc. (NYSE:SG) CEO Sells 7,400 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 7,400 shares of Sweetgreen stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $28.81, for a total transaction of $213,194.00. Following the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $55,609,868.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, August 26th, Jonathan Neman sold 169,772 shares of Sweetgreen stock. The stock was sold at an average price of $35.77, for a total value of $6,072,744.44.

Sweetgreen Stock Performance

Shares of SG opened at $34.58 on Friday. Sweetgreen, Inc. has a 1 year low of $8.64 and a 1 year high of $38.53. The company’s 50 day simple moving average is $29.45 and its 200 day simple moving average is $27.08. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -37.18 and a beta of 2.32.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The business had revenue of $184.60 million during the quarter, compared to analyst estimates of $180.79 million. During the same quarter last year, the firm posted ($0.20) earnings per share. The company’s revenue was up 21.0% on a year-over-year basis. Equities analysts expect that Sweetgreen, Inc. will post -0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. TD Cowen upgraded Sweetgreen from a “hold” rating to a “buy” rating and boosted their target price for the stock from $31.00 to $43.00 in a research report on Wednesday, September 4th. 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 note on Friday, August 9th. The Goldman Sachs Group began coverage on shares of Sweetgreen in a research report on Thursday, June 13th. They set a “buy” rating and a $39.00 target price for the company. UBS Group increased their price target on shares of Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Oppenheimer lifted their price objective on Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Hedge Funds Weigh In On Sweetgreen

Several large investors have recently added to or reduced their stakes in SG. Quest Partners LLC purchased a new stake in Sweetgreen in the 2nd quarter valued at about $76,000. Versor Investments LP acquired a new stake in shares of Sweetgreen in the second quarter worth approximately $217,000. Perigon Wealth Management LLC purchased a new stake in Sweetgreen in the first quarter valued at approximately $223,000. Thoroughbred Financial Services LLC acquired a new position in Sweetgreen during the second quarter worth approximately $233,000. Finally, Nkcfo LLC purchased a new position in Sweetgreen during the second quarter worth approximately $241,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

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.