Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman Sells 20,937 Shares

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 20,937 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.03, for a total transaction of $838,108.11. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at $77,267,026.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, October 28th, Jonathan Neman sold 1,010 shares of Sweetgreen stock. The shares were sold at an average price of $40.01, for a total transaction of $40,410.10.
• On Friday, September 13th, Jonathan Neman sold 17,020 shares of Sweetgreen stock. The shares were sold at an average price of $35.08, for a total transaction of $597,061.60.
• On Monday, September 9th, Jonathan Neman sold 7,400 shares of Sweetgreen stock. The stock was sold at an average price of $28.81, for a total value of $213,194.00.
• On Monday, August 26th, Jonathan Neman sold 169,772 shares of Sweetgreen stock. The shares were sold at an average price of $35.77, for a total value of $6,072,744.44.

Sweetgreen Trading Down 5.9 %

SG stock opened at $39.69 on Friday. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of -49.00 and a beta of 2.32. The firm’s 50-day moving average price is $35.43 and its two-hundred day moving average price is $31.21. Sweetgreen, Inc. has a 12-month low of $8.64 and a 12-month high of $42.77.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data 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 business had revenue of $184.60 million for 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 company’s revenue was up 21.0% on a year-over-year basis. Equities analysts predict that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Institutional Trading of Sweetgreen

Institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in Sweetgreen during the 3rd quarter valued at $35,000. Quest Partners LLC bought a new position in Sweetgreen in the 2nd quarter worth $76,000. KBC Group NV lifted its position in Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in Sweetgreen during the third quarter valued at about $216,000. Finally, Versor Investments LP purchased a new stake in Sweetgreen in the second quarter worth about $217,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SG. Piper Sandler reaffirmed a “neutral” rating and issued a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Oppenheimer upped their price target on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday. UBS Group lifted their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday. TD Cowen boosted their price target on Sweetgreen from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Friday. Finally, Morgan Stanley increased their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Sweetgreen currently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

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.