Jonathan Neman Sells 17,020 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 17,020 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $35.08, for a total value of $597,061.60. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $67,712,398.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, September 9th, Jonathan Neman sold 7,400 shares of Sweetgreen stock. The shares were sold at an average price of $28.81, for a total transaction of $213,194.00.
• 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 Sweetgreen stock opened at $33.72 on Wednesday. The company’s fifty day moving average price is $29.79 and its two-hundred day moving average price is $27.57. The firm has a market capitalization of $3.82 billion, a PE ratio of -36.26 and a beta of 2.32. Sweetgreen, Inc. has a 52-week low of $8.64 and a 52-week high of $38.53.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $180.79 million. During the same period in the previous year, the firm earned ($0.20) EPS. The business’s revenue was up 21.0% compared to the same quarter last year. Analysts predict that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SG. Quest Partners LLC acquired a new stake in shares of Sweetgreen in the second quarter valued at $76,000. Versor Investments LP bought a new position in shares of Sweetgreen in the second quarter worth about $217,000. Thoroughbred Financial Services LLC acquired a new position in shares of Sweetgreen during the second quarter worth approximately $233,000. Nkcfo LLC bought a new stake in shares of Sweetgreen during the second quarter valued at approximately $241,000. Finally, Moloney Securities Asset Management LLC acquired a new stake in shares of Sweetgreen in the second quarter valued at approximately $256,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SG shares. UBS Group boosted their price objective on Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Piper Sandler reissued a “neutral” rating and issued a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Bank of America raised their price objective on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Oppenheimer upped their target price on shares of Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Finally, Royal Bank of Canada raised their price target on shares of Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.