Nicolas Jammet Sells 21,275 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 21,275 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $35.10, for a total transaction of $746,752.50. Following the completion of the sale, the insider now directly owns 1,930,233 shares in the company, valued at approximately $67,751,178.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, August 26th, Nicolas Jammet sold 169,767 shares of Sweetgreen stock. The stock was sold at an average price of $35.77, for a total transaction of $6,072,565.59.

Sweetgreen Price Performance

Shares of Sweetgreen stock opened at $33.72 on Wednesday. Sweetgreen, Inc. has a 1 year low of $8.64 and a 1 year high of $38.53. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -36.26 and a beta of 2.32. The company has a 50-day moving average of $29.79 and a 200 day moving average of $27.57.

Sweetgreen (NYSE:SG) last announced its 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 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 in the prior year, the business posted ($0.20) EPS. Sweetgreen’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities analysts anticipate that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Citigroup upped their price target on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Bank of America upped their target price on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Royal Bank of Canada lifted their price target on shares of Sweetgreen from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, June 7th. UBS Group upped their price objective on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Morgan Stanley lifted their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Institutional Investors Weigh In On Sweetgreen

Hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new stake in shares of Sweetgreen during the second quarter valued at approximately $76,000. Versor Investments LP purchased a new stake in shares of Sweetgreen during the second quarter valued at $217,000. Perigon Wealth Management LLC bought a new stake in Sweetgreen in the 1st quarter worth about $223,000. Thoroughbred Financial Services LLC purchased a new position in Sweetgreen in the 2nd quarter worth about $233,000. Finally, Nkcfo LLC bought a new position in Sweetgreen during the 2nd quarter valued at about $241,000. 95.75% of the stock is owned by institutional investors.

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.