Jason Miles Cochran Sells 4,809 Shares of Sweetgreen (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) COO Jason Miles Cochran sold 4,809 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.21, for a total value of $29,863.89. Following the transaction, the chief operating officer directly owned 207,076 shares in the company, valued at $1,285,941.96. This trade represents a 2.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sweetgreen Stock Up 10.4%

Sweetgreen stock opened at $6.42 on Thursday. The business’s 50-day simple moving average is $7.31 and its 200 day simple moving average is $6.79. The stock has a market cap of $764.83 million, a price-to-earnings ratio of 64.26 and a beta of 2.19. Sweetgreen, Inc. has a 12-month low of $4.49 and a 12-month high of $10.63.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). The business had revenue of $192.66 million for the quarter, compared to analyst estimates of $194.50 million. Sweetgreen had a net margin of 2.01% and a negative return on equity of 32.94%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.20) earnings per share. As a group, sell-side analysts expect that Sweetgreen, Inc. will post -0.98 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SG. Larson Financial Group LLC increased its stake in Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after purchasing an additional 2,349 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of Sweetgreen during the first quarter worth $38,000. CWM LLC grew its holdings in shares of Sweetgreen by 212.2% in the 4th quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after buying an additional 4,984 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of Sweetgreen by 281.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after buying an additional 5,839 shares during the period. Finally, Onyx Bridge Wealth Group LLC acquired a new position in shares of Sweetgreen in the 1st quarter valued at $56,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SG shares. Weiss Ratings cut shares of Sweetgreen from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. DA Davidson dropped their target price on shares of Sweetgreen from $7.00 to $5.50 and set a “neutral” rating for the company in a research report on Monday, August 10th. Royal Bank Of Canada cut their price target on Sweetgreen from $7.00 to $6.50 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Oppenheimer reduced their price target on Sweetgreen from $10.00 to $8.50 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Finally, Wall Street Zen raised Sweetgreen from a “strong sell” rating to a “sell” rating in a research note on Sunday. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.10.

Sweetgreen Company Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.