Insider Selling: Sweetgreen, Inc. (NYSE:SG) Insider Sells 21,275 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 21,275 shares of Sweetgreen stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $35.10, for a total value of $746,752.50. Following the completion of the transaction, the insider now owns 1,930,233 shares in the company, valued at approximately $67,751,178.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $35.77, for a total transaction of $6,072,565.59.

Sweetgreen Trading Down 1.2 %

NYSE SG traded down $0.41 during trading hours on Tuesday, hitting $33.74. 2,102,335 shares of the company’s stock were exchanged, compared to its average volume of 2,847,830. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -36.72 and a beta of 2.32. The stock has a 50-day simple moving average of $29.61 and a 200 day simple moving average of $27.44. Sweetgreen, Inc. has a 1-year low of $8.64 and a 1-year high of $38.53.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share 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 company had revenue of $184.60 million for the quarter, compared to analyst estimates of $180.79 million. During the same quarter in the prior year, the company posted ($0.20) EPS. Sweetgreen’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, sell-side analysts anticipate that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Sweetgreen by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 731,369 shares of the company’s stock worth $8,264,000 after purchasing an additional 15,463 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Sweetgreen by 38.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock valued at $19,549,000 after acquiring an additional 476,998 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Sweetgreen by 1.0% during the fourth quarter. Panagora Asset Management Inc. now owns 182,254 shares of the company’s stock valued at $2,059,000 after acquiring an additional 1,733 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Sweetgreen by 1.9% during the fourth quarter. Brown Advisory Inc. now owns 108,311 shares of the company’s stock worth $1,224,000 after acquiring an additional 1,987 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its position in Sweetgreen by 89.4% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 27,047 shares of the company’s stock worth $306,000 after purchasing an additional 12,763 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group raised their price objective on Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Morgan Stanley raised their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. The Goldman Sachs Group initiated coverage on shares of Sweetgreen in a research report on Thursday, June 13th. They set a “buy” rating and a $39.00 target price on the stock. Finally, Citigroup raised their price target 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Sweetgreen has a consensus rating of “Moderate Buy” and an average price target of $38.20.

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.