Insider Selling: Sweetgreen, Inc. (NYSE:SG) Insider Sells 14,551 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 14,551 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.00, for a total transaction of $654,795.00. Following the sale, the insider now owns 1,930,233 shares of the company’s stock, valued at $86,860,485. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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 Trading Down 2.0 %

NYSE SG traded down $0.88 during trading on Wednesday, hitting $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 one year low of $9.31 and a one year high of $45.12. The company has a market cap of $4.90 billion, a price-to-earnings ratio of -54.40 and a beta of 2.32. The company’s fifty day moving average is $37.32 and its 200-day moving average is $32.73.

Institutional Trading of Sweetgreen

Several institutional investors have recently bought and sold shares of SG. Franklin Resources Inc. lifted its stake in shares of Sweetgreen by 1,399.0% in the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company’s stock worth $4,365,000 after purchasing an additional 103,664 shares during the period. Tidal Investments LLC raised its stake in Sweetgreen by 848.2% during the 3rd quarter. Tidal Investments LLC now owns 270,141 shares of the company’s stock worth $9,576,000 after acquiring an additional 241,652 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in Sweetgreen by 0.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 311,630 shares of the company’s stock worth $11,048,000 after acquiring an additional 2,000 shares during the period. Geode Capital Management LLC raised its stake in Sweetgreen by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock worth $79,757,000 after acquiring an additional 116,243 shares during the period. Finally, M&T Bank Corp raised its stake in Sweetgreen by 22.0% during the 3rd quarter. M&T Bank Corp now owns 27,648 shares of the company’s stock worth $980,000 after acquiring an additional 4,989 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SG has been the subject of a number of analyst reports. Piper Sandler restated a “neutral” rating and issued a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. TD Cowen restated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. UBS Group raised their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Morgan Stanley raised their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, Oppenheimer lifted their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Sweetgreen currently has an average rating of “Moderate Buy” and a consensus 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.