Sweetgreen, Inc. (NYSE:SG) Insider Sells $182,916.60 in Stock

Sweetgreen, Inc. (NYSE:SG) insider Adrienne Gemperle sold 5,372 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.05, for a total transaction of $182,916.60. Following the sale, the insider now owns 107,313 shares in the company, valued at approximately $3,654,007.65. The trade was a 4.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Sweetgreen Price Performance

Shares of NYSE:SG opened at $41.00 on Friday. Sweetgreen, Inc. has a 1 year low of $9.21 and a 1 year high of $42.77. The company has a market capitalization of $4.74 billion, a P/E ratio of -52.56 and a beta of 2.32. The business’s 50 day simple moving average is $36.76 and its 200 day simple moving average is $32.24.

Institutional Investors Weigh In On Sweetgreen

Large investors have recently modified their holdings of the business. Driehaus Capital Management LLC grew its holdings in shares of Sweetgreen by 231.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock valued at $81,028,000 after purchasing an additional 1,878,216 shares during the last quarter. Hood River Capital Management LLC bought a new stake in shares of Sweetgreen during the first quarter worth $29,105,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Sweetgreen during the second quarter worth $33,449,000. Renaissance Technologies LLC acquired a new position in shares of Sweetgreen during the second quarter worth $29,109,000. Finally, Baillie Gifford & Co. lifted its stake in shares of Sweetgreen by 6.2% in the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock valued at $371,516,000 after acquiring an additional 721,740 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SG shares. Piper Sandler reiterated a “neutral” rating and set a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. TD Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a report on Monday. UBS Group raised their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Bank of America upped their price objective on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Finally, Citigroup raised their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.80.

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.