Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman Sells 1,010 Shares

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 1,010 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $40.01, for a total transaction of $40,410.10. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $77,228,422.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Jonathan Neman also recently made the following trade(s):

• On Friday, September 13th, Jonathan Neman sold 17,020 shares of Sweetgreen stock. The shares were sold at an average price of $35.08, for a total value of $597,061.60.
• On Monday, September 9th, Jonathan Neman sold 7,400 shares of Sweetgreen stock. The shares were sold at an average price of $28.81, for a total value of $213,194.00.
• On Monday, August 26th, Jonathan Neman sold 169,772 shares of Sweetgreen stock. The shares were sold at an average price of $35.77, for a total transaction of $6,072,744.44.

Sweetgreen Stock Performance

Sweetgreen stock opened at $37.49 on Thursday. The stock’s 50 day moving average price is $34.84 and its two-hundred day moving average price is $30.51. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of -45.71 and a beta of 2.33. Sweetgreen, Inc. has a 52-week low of $8.64 and a 52-week high of $40.20.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The company 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 company earned ($0.20) earnings per share. The firm’s revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts forecast that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. TD Cowen restated a “buy” rating and issued a $43.00 price objective on shares of Sweetgreen in a report on Friday, September 27th. Bank of America increased their price target on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. UBS Group raised their price objective on Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Oppenheimer upped their target price on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, Piper Sandler restated a “neutral” rating and set a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Institutional Trading of Sweetgreen

Large investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC increased its stake in Sweetgreen by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock valued at $3,993,000 after purchasing an additional 314 shares in the last quarter. Evolutionary Tree Capital Management LLC grew its holdings in shares of Sweetgreen by 0.7% during the second quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock valued at $1,982,000 after buying an additional 474 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Sweetgreen by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after acquiring an additional 537 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Sweetgreen by 11.7% in the 1st quarter. Principal Financial Group Inc. now owns 12,762 shares of the company’s stock worth $322,000 after acquiring an additional 1,337 shares during the last quarter. Finally, Optas LLC lifted its position in Sweetgreen by 9.1% in the 3rd quarter. Optas LLC now owns 16,778 shares of the company’s stock valued at $595,000 after acquiring an additional 1,395 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.