Insider Selling: Sweetgreen, Inc. (NYSE:SG) Insider Sells 33,598 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 33,598 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $40.14, for a total transaction of $1,348,623.72. Following the transaction, the insider now owns 1,930,233 shares of the company’s stock, valued at approximately $77,479,552.62. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nicolas Jammet also recently made the following trade(s):

• On Tuesday, December 3rd, Nicolas Jammet sold 41,999 shares of Sweetgreen stock. The shares were sold at an average price of $38.68, for a total value of $1,624,521.32.
• On Monday, November 25th, Nicolas Jammet sold 14,551 shares of Sweetgreen stock. The shares were sold at an average price of $45.00, for a total value of $654,795.00.
• On Wednesday, November 6th, Nicolas Jammet sold 16,751 shares of Sweetgreen stock. The stock was sold at an average price of $40.04, for a total value of $670,710.04.
• On Friday, September 13th, Nicolas Jammet sold 21,275 shares of Sweetgreen stock. The stock was sold at an average price of $35.10, for a total transaction of $746,752.50.

Sweetgreen Stock Down 10.4 %

Sweetgreen stock traded down $4.38 during mid-day trading on Monday, hitting $37.66. The company had a trading volume of 4,400,533 shares, compared to its average volume of 2,867,440. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of -47.92 and a beta of 2.32. Sweetgreen, Inc. has a 1 year low of $9.66 and a 1 year high of $45.12. The business has a fifty day moving average of $38.12 and a 200 day moving average of $33.22.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler reaffirmed a “neutral” rating and set a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Bank of America upped their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. UBS Group raised their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. TD Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. Finally, Oppenheimer lifted their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sweetgreen presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in shares of Sweetgreen in the 3rd quarter worth approximately $35,000. Quest Partners LLC bought a new position in shares of Sweetgreen during the second quarter worth about $76,000. KBC Group NV increased its holdings in shares of Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after acquiring an additional 704 shares during the period. Daiwa Securities Group Inc. acquired a new position in Sweetgreen during the 3rd quarter valued at about $155,000. Finally, Canton Hathaway LLC acquired a new position in shares of Sweetgreen during the third quarter worth approximately $177,000. 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.