Sweetgreen, Inc. (NYSE:SG) Insider Sells $265,845.00 in Stock

Sweetgreen, Inc. (NYSE:SG) insider Nathaniel Ru sold 9,250 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $28.74, for a total transaction of $265,845.00. Following the transaction, the insider now owns 1,952,129 shares in the company, valued at approximately $56,104,187.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Sweetgreen Stock Up 1.9 %

Shares of Sweetgreen stock opened at $34.58 on Friday. The business has a fifty day simple moving average of $29.45 and a 200 day simple moving average of $27.08. The stock has a market cap of $3.95 billion, a PE ratio of -37.18 and a beta of 2.32. Sweetgreen, Inc. has a 12 month low of $8.64 and a 12 month high of $38.53.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Quest Partners LLC bought a new position in shares of Sweetgreen during the second quarter worth $76,000. Versor Investments LP acquired a new stake in Sweetgreen during the 2nd quarter worth $217,000. Perigon Wealth Management LLC bought a new position in Sweetgreen during the first quarter worth about $223,000. Thoroughbred Financial Services LLC bought a new position in Sweetgreen during the second quarter worth about $233,000. Finally, Nkcfo LLC acquired a new position in Sweetgreen in the second quarter valued at about $241,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SG. The Goldman Sachs Group initiated coverage on shares of Sweetgreen in a research report on Thursday, June 13th. They set a “buy” rating and a $39.00 target price on the stock. Royal Bank of Canada increased their price objective on Sweetgreen from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Piper Sandler reissued a “neutral” rating and issued a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Bank of America upped their price target on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

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.