Sweetgreen, Inc. (NYSE:SG) Director Nathaniel Ru Sells 2,123 Shares

Sweetgreen, Inc. (NYSE:SG) Director Nathaniel Ru sold 2,123 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the sale, the director now owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Sweetgreen Trading Down 1.9 %

Shares of NYSE:SG opened at $23.66 on Wednesday. Sweetgreen, Inc. has a 12-month low of $18.77 and a 12-month high of $45.12. The business’s fifty day simple moving average is $27.78 and its 200-day simple moving average is $33.16. The company has a market capitalization of $2.77 billion, a PE ratio of -30.33 and a beta of 2.44.

Analyst Ratings Changes

Several research firms have commented on SG. KeyCorp began coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating on the stock. UBS Group reduced their price objective on Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group reduced their price objective on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Morgan Stanley reduced their price objective on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Finally, TD Securities reduced their price objective on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sweetgreen presently has a consensus rating of “Moderate Buy” and an average price target of $36.27.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Sweetgreen by 3.4% in the 4th quarter. FMR LLC now owns 10,103,969 shares of the company’s stock worth $323,933,000 after purchasing an additional 329,789 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Sweetgreen by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock worth $306,009,000 after purchasing an additional 351,240 shares in the last quarter. Invesco Ltd. boosted its position in shares of Sweetgreen by 40.9% in the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock worth $176,850,000 after purchasing an additional 1,601,666 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Sweetgreen by 30.1% in the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock worth $142,106,000 after purchasing an additional 1,025,341 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock worth $82,032,000 after purchasing an additional 272,340 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other 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.