Insider Selling: Sweetgreen, Inc. (NYSE:SG) Insider Sells $121,920.15 in Stock

Sweetgreen, Inc. (NYSE:SG) insider Adrienne Gemperle sold 3,889 shares of Sweetgreen stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $31.35, for a total transaction of $121,920.15. Following the sale, the insider now directly owns 125,518 shares in the company, valued at approximately $3,934,989.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Adrienne Gemperle also recently made the following trade(s):

• On Friday, March 1st, Adrienne Gemperle sold 4,000 shares of Sweetgreen stock. The stock was sold at an average price of $16.00, for a total transaction of $64,000.00.
• On Thursday, February 22nd, Adrienne Gemperle sold 12,442 shares of Sweetgreen stock. The shares were sold at an average price of $11.33, for a total transaction of $140,967.86.

Sweetgreen Stock Down 0.3 %

NYSE:SG opened at $31.84 on Thursday. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $34.45. The company has a 50 day moving average price of $24.75 and a 200 day moving average price of $16.14.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The firm had revenue of $157.85 million for the quarter, compared to analysts’ expectations of $152.02 million. Sweetgreen had a negative return on equity of 20.74% and a negative net margin of 17.15%. The company’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.29) earnings per share. On average, sell-side analysts anticipate that Sweetgreen, Inc. will post -0.73 earnings per share for the current year.

Institutional Trading of Sweetgreen

Institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. grew its holdings in shares of Sweetgreen by 31.9% in the third quarter. Baillie Gifford & Co. now owns 12,009,929 shares of the company’s stock valued at $141,117,000 after purchasing an additional 2,907,749 shares in the last quarter. Invesco Ltd. increased its holdings in Sweetgreen by 1,435.2% during the 3rd quarter. Invesco Ltd. now owns 1,674,791 shares of the company’s stock worth $19,679,000 after purchasing an additional 1,565,700 shares during the period. Hood River Capital Management LLC acquired a new stake in Sweetgreen in the 1st quarter valued at about $29,105,000. Teca Partners LP acquired a new stake in Sweetgreen in the fourth quarter valued at approximately $8,475,000. Finally, Verition Fund Management LLC purchased a new position in Sweetgreen in the fourth quarter worth approximately $8,452,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SG shares. JPMorgan Chase & Co. upped their price target on Sweetgreen from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Morgan Stanley upped their target price on Sweetgreen from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Friday, May 10th. Royal Bank of Canada lifted their price target on Sweetgreen from $20.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Citigroup upped their price objective on shares of Sweetgreen from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, May 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of Sweetgreen in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

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.