Insider Selling: Sweetgreen, Inc. (NYSE:SG) CEO Sells 5,717 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 5,717 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the completion of the transaction, the chief executive officer now directly owns 1,810,263 shares in the company, valued at $43,084,259.40. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sweetgreen Stock Performance

NYSE:SG traded down $0.47 during trading hours on Tuesday, reaching $23.66. The stock had a trading volume of 2,127,549 shares, compared to its average volume of 3,082,971. Sweetgreen, Inc. has a 52 week low of $18.77 and a 52 week high of $45.12. The company has a 50 day moving average price of $27.94 and a two-hundred day moving average price of $33.22. The stock has a market capitalization of $2.77 billion, a PE ratio of -30.33 and a beta of 2.44.

Analysts Set New Price Targets

Several brokerages recently issued reports on SG. The Goldman Sachs Group decreased their target price on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. KeyCorp began coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating on the stock. Piper Sandler decreased their target price on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Oppenheimer decreased their target price on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, Morgan Stanley decreased their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and an average target price of $36.27.

Hedge Funds Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently modified their holdings of SG. Oppenheimer & Co. Inc. boosted its holdings in shares of Sweetgreen by 9.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,483 shares of the company’s stock worth $939,000 after purchasing an additional 2,380 shares during the period. KBC Group NV boosted its holdings in shares of Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Sweetgreen by 91.9% in the 3rd quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock worth $1,077,000 after purchasing an additional 14,545 shares during the period. Quest Partners LLC boosted its holdings in shares of Sweetgreen by 68.4% in the 3rd quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock worth $151,000 after purchasing an additional 1,728 shares during the period. Finally, GLOBALT Investments LLC GA purchased a new position in shares of Sweetgreen in the 3rd quarter worth approximately $591,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.