Sweetgreen, Inc. (NYSE:SG) CEO Sells $213,194.00 in Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 7,400 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $55,609,868.68. The sale was disclosed in a filing with the SEC, which is available at this link.

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 transaction of $6,072,744.44.

Sweetgreen Price Performance

Shares of NYSE SG opened at $34.58 on Friday. The stock has a fifty day moving average price of $29.45 and a 200 day moving average price of $27.08. Sweetgreen, Inc. has a 1-year low of $8.64 and a 1-year high of $38.53. The company has a market cap of $3.95 billion, a PE ratio of -37.18 and a beta of 2.32.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their price objective on Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. TD Cowen upgraded Sweetgreen from a “hold” rating to a “buy” rating and raised their price target for the stock from $31.00 to $43.00 in a research note on Wednesday, September 4th. UBS Group lifted their price target on Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Oppenheimer increased their price objective on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $39.00 target price (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Sweetgreen currently has an average rating of “Moderate Buy” and an average price target of $38.20.

Institutional Investors Weigh In On Sweetgreen

Institutional investors have recently added to or reduced their stakes in the business. Evolutionary Tree Capital Management LLC raised its stake in shares of Sweetgreen by 0.7% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock worth $1,982,000 after buying an additional 474 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Sweetgreen by 2.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company’s stock worth $468,000 after acquiring an additional 830 shares during the period. Principal Financial Group Inc. grew its holdings in Sweetgreen by 11.7% during the first quarter. Principal Financial Group Inc. now owns 12,762 shares of the company’s stock worth $322,000 after acquiring an additional 1,337 shares during the period. Swiss National Bank raised its position in Sweetgreen by 0.9% in the first quarter. Swiss National Bank now owns 176,600 shares of the company’s stock worth $4,461,000 after acquiring an additional 1,500 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Sweetgreen by 9.9% in the first quarter. ProShare Advisors LLC now owns 17,584 shares of the company’s stock valued at $444,000 after acquiring an additional 1,585 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.