Insider Selling: Sweetgreen, Inc. (NYSE:SG) CEO Sells 169,772 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 169,772 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $35.77, for a total value of $6,072,744.44. Following the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $69,044,255.56. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, June 5th, Jonathan Neman sold 150,000 shares of Sweetgreen stock. The shares were sold at an average price of $30.50, for a total value of $4,575,000.00.

Sweetgreen Stock Performance

SG stock traded down $0.12 during midday trading on Tuesday, hitting $34.59. 1,890,434 shares of the stock were exchanged, compared to its average volume of 2,783,106. The stock’s 50-day moving average price is $28.88 and its 200-day moving average price is $25.39. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -37.19 and a beta of 2.30. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $38.53.

Sweetgreen (NYSE:SG) last released its quarterly 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 return on equity of 19.34% and a negative net margin of 14.33%. The company had revenue of $184.60 million during the quarter, compared to analyst estimates of $180.79 million. During the same period last year, the firm earned ($0.20) earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. Research analysts anticipate that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Analyst Upgrades and Downgrades

SG has been the topic of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of Sweetgreen in a research report on Wednesday, May 15th. Bank of America raised their target price on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Citigroup raised their price target on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on Sweetgreen from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Finally, UBS Group lifted their target price on Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research note 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.00.

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in shares of Sweetgreen in the second quarter valued at about $76,000. Triumph Capital Management acquired a new stake in shares of Sweetgreen in the fourth quarter valued at about $126,000. Handelsbanken Fonder AB purchased a new position in Sweetgreen in the fourth quarter valued at about $137,000. Versor Investments LP purchased a new position in Sweetgreen in the second quarter valued at about $217,000. Finally, Perigon Wealth Management LLC purchased a new position in Sweetgreen in the first quarter valued at about $223,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.