Julie Bornstein Sells 4,464 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) Director Julie Bornstein sold 4,464 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $42.11, for a total transaction of $187,979.04. Following the completion of the sale, the director now owns 32,637 shares of the company’s stock, valued at approximately $1,374,344.07. This trade represents a 12.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Sweetgreen Stock Down 3.4 %

Shares of NYSE SG opened at $40.98 on Friday. The company has a market cap of $4.74 billion, a P/E ratio of -52.54 and a beta of 2.32. Sweetgreen, Inc. has a 52 week low of $9.31 and a 52 week high of $45.12. The business has a 50-day simple moving average of $37.69 and a two-hundred day simple moving average of $32.93.

Analysts Set New Price Targets

SG has been the topic of a number of recent analyst reports. UBS Group lifted their price target on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Morgan Stanley boosted their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. TD Cowen restated a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a report on Monday, November 18th. Oppenheimer increased 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. Finally, Bank of America lifted their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.80.

Hedge Funds Weigh In On Sweetgreen

A number of large investors have recently modified their holdings of SG. Driehaus Capital Management LLC increased its holdings in Sweetgreen by 231.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after acquiring an additional 1,878,216 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Sweetgreen during the 2nd quarter valued at $33,449,000. Renaissance Technologies LLC bought a new position in shares of Sweetgreen in the second quarter worth $29,109,000. Baillie Gifford & Co. raised its position in shares of Sweetgreen by 6.2% in the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after buying an additional 721,740 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised its position in shares of Sweetgreen by 139.9% in the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after buying an additional 547,816 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.

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.