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

Sweetgreen, Inc. (NYSE:SG) Director Bradley E. Singer sold 7,270 shares of Sweetgreen stock in a transaction dated Wednesday, November 13th. The stock was 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 directly owns 181,782 shares of the company’s stock, valued at approximately $7,216,745.40. This trade 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 Trading Down 0.4 %

Sweetgreen stock traded down $0.15 during mid-day trading on Friday, hitting $33.51. The company had a trading volume of 3,019,322 shares, compared to its average volume of 2,881,269. The stock’s 50 day moving average price is $36.14 and its two-hundred day moving average price is $31.72. Sweetgreen, Inc. has a 12 month low of $9.21 and a 12 month high of $42.77. The company has a market capitalization of $3.82 billion, a PE ratio of -42.96 and a beta of 2.32.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. TD Cowen lifted their price objective on Sweetgreen from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Morgan Stanley lifted their price target on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Bank of America boosted their target price on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Oppenheimer lifted their price target on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Piper Sandler reissued a “neutral” rating and set a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SG. Swiss National Bank increased its position in Sweetgreen by 0.9% during the first quarter. Swiss National Bank now owns 176,600 shares of the company’s stock valued at $4,461,000 after acquiring an additional 1,500 shares during the last quarter. Sei Investments Co. bought a new position in Sweetgreen during the first quarter valued at approximately $1,110,000. ProShare Advisors LLC boosted its stake in Sweetgreen by 9.9% during the first quarter. ProShare Advisors LLC now owns 17,584 shares of the company’s stock valued at $444,000 after buying an additional 1,585 shares during the last quarter. Entropy Technologies LP bought a new position in Sweetgreen during the first quarter valued at approximately $279,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Sweetgreen in the 1st quarter valued at approximately $13,872,000. 95.75% of the stock is owned by institutional investors.

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.