Sweetgreen, Inc. (NYSE:SG) Insider Nicolas Jammet Sells 14,551 Shares

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 14,551 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $654,795.00. Following the completion of the transaction, the insider now directly owns 1,930,233 shares of the company’s stock, valued at approximately $86,860,485. This trade represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Nicolas Jammet also recently made the following trade(s):

• On Wednesday, November 6th, Nicolas Jammet sold 16,751 shares of Sweetgreen stock. The stock was sold at an average price of $40.04, for a total transaction of $670,710.04.
• On Friday, September 13th, Nicolas Jammet sold 21,275 shares of Sweetgreen stock. The stock was sold at an average price of $35.10, for a total transaction of $746,752.50.

Sweetgreen Price Performance

NYSE:SG traded down $0.88 during trading hours on Wednesday, reaching $42.39. The company had a trading volume of 1,827,518 shares, compared to its average volume of 2,881,304. Sweetgreen, Inc. has a 1-year low of $9.31 and a 1-year high of $45.12. The firm has a market cap of $4.90 billion, a PE ratio of -54.40 and a beta of 2.32. The business’s 50 day moving average price is $37.32 and its 200-day moving average price is $32.73.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC boosted its holdings 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 acquiring an additional 314 shares during the period. Evolutionary Tree Capital Management LLC boosted its holdings in Sweetgreen by 0.7% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock valued at $1,982,000 after acquiring an additional 474 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Sweetgreen by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after purchasing an additional 537 shares in the last quarter. KBC Group NV raised its position in Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares in the last quarter. Finally, Pier Capital LLC raised its position in Sweetgreen by 0.3% in the 3rd quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after purchasing an additional 761 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SG. Morgan Stanley lifted their target price on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Oppenheimer lifted their price objective on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. Bank of America lifted their price objective on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Finally, Citigroup lifted their price objective on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.80.

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.