Bradley E. Singer Sells 7,270 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) Director Bradley E. Singer sold 7,270 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $39.70, for a total transaction of $288,619.00. Following the transaction, the director now owns 181,782 shares in the company, valued at approximately $7,216,745.40. The trade was a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Sweetgreen Trading Down 0.4 %

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SG. Hollencrest Capital Management acquired a new stake in Sweetgreen during the 3rd quarter valued at approximately $35,000. Quest Partners LLC bought a new position in shares of Sweetgreen in the 2nd quarter worth $76,000. KBC Group NV lifted 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 in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Sweetgreen in the 3rd quarter worth $155,000. Finally, Canton Hathaway LLC bought a new position in Sweetgreen during the 3rd quarter valued at $177,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

SG has been the topic of a number of analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. UBS Group raised their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Piper Sandler reissued a “neutral” rating and issued a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Morgan Stanley raised their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, Oppenheimer raised their price target on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Sweetgreen currently has an average rating of “Moderate Buy” and an average price target 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.