Sweetgreen, Inc. (NYSE:SG) COO Rossann Williams Sells 4,977 Shares

Sweetgreen, Inc. (NYSE:SG) COO Rossann Williams sold 4,977 shares of Sweetgreen stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $118,452.60. Following the completion of the transaction, the chief operating officer now owns 95,516 shares in the company, valued at approximately $2,273,280.80. This represents a 4.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Sweetgreen Stock Performance

Shares of SG stock opened at $23.66 on Wednesday. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -30.33 and a beta of 2.44. Sweetgreen, Inc. has a 52 week low of $18.77 and a 52 week high of $45.12. The firm’s 50-day simple moving average is $27.78 and its two-hundred day simple moving average is $33.16.

Institutional Trading of Sweetgreen

Hedge funds have recently added to or reduced their stakes in the stock. GLOBALT Investments LLC GA bought a new stake in Sweetgreen in the third quarter worth about $591,000. Verition Fund Management LLC raised its stake in Sweetgreen by 189.6% in the 3rd quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock valued at $6,151,000 after acquiring an additional 113,586 shares during the period. Cox Capital Mgt LLC raised its stake in Sweetgreen by 76.0% in the 4th quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company’s stock valued at $1,728,000 after acquiring an additional 23,278 shares during the period. Natixis Advisors LLC raised its stake in Sweetgreen by 91.9% in the 3rd quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock valued at $1,077,000 after acquiring an additional 14,545 shares during the period. Finally, Geode Capital Management LLC raised its stake in Sweetgreen by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock valued at $79,757,000 after acquiring an additional 116,243 shares during the period. Institutional investors own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

SG has been the topic of a number of recent analyst reports. TD Securities decreased their target price on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Piper Sandler reduced their price objective on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada restated an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Tuesday, February 25th. KeyCorp started coverage on Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating on the stock. Finally, Oppenheimer reduced their price objective on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.27.

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.