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

Sweetgreen, Inc. (NYSE:SG - Get Free Report) CEO Jonathan Neman sold 5,717 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the sale, the chief executive officer now owns 1,810,263 shares in the company, valued at $43,084,259.40. The trade was a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Sweetgreen Stock Performance

Shares of NYSE:SG traded up $0.54 during trading on Friday, reaching $24.97. The company had a trading volume of 4,235,812 shares, compared to its average volume of 3,089,389. Sweetgreen, Inc. has a twelve month low of $18.77 and a twelve month high of $45.12. The firm has a market capitalization of $2.93 billion, a PE ratio of -32.01 and a beta of 2.44. The firm's fifty day moving average is $27.30 and its 200 day moving average is $32.99.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SG shares. Oppenheimer lowered their target price on shares of Sweetgreen from $41.00 to $35.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Morgan Stanley lowered their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 21st. Piper Sandler reduced their price objective on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group dropped their target price on Sweetgreen from $37.00 to $32.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, KeyCorp began coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They set a "sector weight" rating for the company. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $36.27.

Remove Ads

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors have recently added to or reduced their stakes in SG. Wealth Enhancement Advisory Services LLC raised its stake in shares of Sweetgreen by 4.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company's stock worth $936,000 after buying an additional 1,278 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Sweetgreen during the fourth quarter worth about $5,492,000. Forum Financial Management LP lifted its holdings in Sweetgreen by 17.5% in the 4th quarter. Forum Financial Management LP now owns 8,112 shares of the company's stock valued at $260,000 after acquiring an additional 1,209 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Sweetgreen in the 4th quarter valued at about $395,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Sweetgreen by 18.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,552 shares of the company's stock valued at $7,263,000 after purchasing an additional 35,276 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.