Nicolas Jammet Sells 169,767 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 169,767 shares of Sweetgreen stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,565.59. Following the completion of the sale, the insider now directly owns 1,930,233 shares of the company’s stock, valued at approximately $69,044,434.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Sweetgreen Stock Performance

Shares of SG stock opened at $31.58 on Friday. The stock has a fifty day simple moving average of $29.01 and a two-hundred day simple moving average of $25.64. The firm has a market capitalization of $3.58 billion, a PE ratio of -33.96 and a beta of 2.30. Sweetgreen, Inc. has a 52-week low of $8.64 and a 52-week high of $38.53.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The business had revenue of $184.60 million for the quarter, compared to the consensus estimate of $180.79 million. During the same period last year, the business posted ($0.20) EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, sell-side analysts forecast that Sweetgreen, Inc. will post -0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Citigroup lifted their price objective on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. TD Cowen boosted their price target on Sweetgreen from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, June 13th. William Blair reiterated an “outperform” rating on shares of Sweetgreen in a research note on Wednesday, May 15th. Morgan Stanley boosted their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada increased their price target on shares of Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently modified their holdings of SG. Driehaus Capital Management LLC lifted its stake in Sweetgreen by 231.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after purchasing an additional 1,878,216 shares in the last quarter. Hood River Capital Management LLC bought a new position in Sweetgreen during the first quarter valued at approximately $29,105,000. Allspring Global Investments Holdings LLC purchased a new position in Sweetgreen during the 2nd quarter valued at approximately $33,449,000. Renaissance Technologies LLC bought a new stake in Sweetgreen in the 2nd quarter worth approximately $29,109,000. Finally, Teca Partners LP purchased a new stake in shares of Sweetgreen during the 4th quarter worth approximately $8,475,000. 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.