Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman Sells 5,717 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 5,717 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the sale, the chief executive officer now directly owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This represents a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Sweetgreen Stock Down 1.9 %

SG stock opened at $23.66 on Wednesday. The company has a market cap of $2.77 billion, a price-to-earnings ratio of -30.33 and a beta of 2.44. Sweetgreen, Inc. has a twelve month low of $18.77 and a twelve month high of $45.12. The business has a 50 day moving average price of $27.78 and a two-hundred day moving average price of $33.16.

Wall Street Analysts Forecast Growth

Several analysts have commented on SG shares. KeyCorp began coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating on the stock. TD Securities dropped their price objective on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Piper Sandler reduced their target price on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. UBS Group dropped their price target on Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.27.

Hedge Funds Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently made changes to their positions in SG. Steward Partners Investment Advisory LLC lifted its stake in Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after acquiring an additional 1,000 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after purchasing an additional 741 shares during the period. Tower Research Capital LLC TRC lifted its stake in Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after purchasing an additional 494 shares during the last quarter. Millstone Evans Group LLC bought a new position in Sweetgreen during the fourth quarter worth about $53,000. Finally, Denver PWM LLC acquired a new position in Sweetgreen during the fourth quarter worth approximately $60,000. 95.75% of the stock is owned by 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.