Insider Selling: Sweetgreen, Inc. (NYSE:SG) Director Sells $288,619.00 in Stock

Sweetgreen, Inc. (NYSE:SG) Director Bradley E. Singer sold 7,270 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $39.70, for a total value of $288,619.00. Following the completion of the sale, the director now owns 181,782 shares of the company’s stock, valued at approximately $7,216,745.40. This represents a 3.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Sweetgreen Price Performance

Shares of SG stock opened at $33.51 on Monday. The business’s fifty day moving average price is $36.25 and its 200 day moving average price is $31.93. Sweetgreen, Inc. has a 1-year low of $9.21 and a 1-year high of $42.77. The firm has a market capitalization of $3.82 billion, a PE ratio of -42.96 and a beta of 2.32.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Driehaus Capital Management LLC grew its holdings in Sweetgreen by 231.8% in the second 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 purchased a new stake in shares of Sweetgreen in the first quarter valued at $29,105,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Sweetgreen in the second quarter valued at $33,449,000. Renaissance Technologies LLC purchased a new stake in shares of Sweetgreen in the second quarter valued at $29,109,000. Finally, Baillie Gifford & Co. lifted its position in shares of Sweetgreen by 6.2% in the second 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 in the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Bank of America boosted their price objective on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a report on Friday, November 8th. Citigroup boosted their target price on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Piper Sandler reissued a “neutral” rating and issued a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Finally, Morgan Stanley boosted their target price on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and an average target price 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.