Sweetgreen (NYSE:SG) Trading Down 2.1% Following Insider Selling

Sweetgreen, Inc. (NYSE:SG) shares dropped 2.1% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $42.19 and last traded at $42.34. Approximately 114,577 shares traded hands during trading, a decline of 96% from the average daily volume of 2,873,467 shares. The stock had previously closed at $43.27.

Specifically, insider Nicolas Jammet sold 14,551 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $654,795.00. Following the completion of the transaction, the insider now directly owns 1,930,233 shares in the company, valued at approximately $86,860,485. This represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jonathan Neman sold 14,745 shares of Sweetgreen stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.00, for a total transaction of $663,525.00. Following the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $86,860,260. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. In other news, Director Julie Bornstein sold 4,464 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $42.11, for a total value of $187,979.04. Following the completion of the transaction, the director now owns 32,637 shares in the company, valued at approximately $1,374,344.07. This represents a 12.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SG. Morgan Stanley boosted their price target on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. UBS Group boosted their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and set a $39.00 price target (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Citigroup boosted their price objective on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Sweetgreen presently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

Sweetgreen Stock Down 1.9 %

The company’s fifty day moving average is $37.49 and its two-hundred day moving average is $32.80.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Hollencrest Capital Management bought a new position in Sweetgreen during the 3rd quarter worth approximately $35,000. Quest Partners LLC acquired a new stake in Sweetgreen in the second quarter worth $76,000. KBC Group NV boosted its position in shares of Sweetgreen by 29.1% during the third 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. acquired a new position in shares of Sweetgreen in the 3rd quarter valued at $155,000. Finally, Canton Hathaway LLC bought a new stake in shares of Sweetgreen in the 3rd quarter valued at $177,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.