Jonathan Neman Sells 5,717 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 5,717 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $136,064.60. Following the completion of the transaction, the chief executive officer now directly owns 1,810,263 shares of the company’s stock, valued at $43,084,259.40. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sweetgreen Trading Up 1.2 %

Shares of SG stock opened at $23.92 on Thursday. The company’s 50-day moving average price is $27.61 and its 200-day moving average price is $33.10. Sweetgreen, Inc. has a twelve month low of $18.77 and a twelve month high of $45.12. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -30.66 and a beta of 2.44.

Analyst Ratings Changes

A number of analysts have commented on SG shares. Piper Sandler lowered their price target on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th. TD Securities cut their target price on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group cut their price target on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, Oppenheimer reduced their price objective on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.27.

Institutional Trading of Sweetgreen

A number of hedge funds and other institutional investors have recently made changes to their positions in SG. Massachusetts Financial Services Co. MA purchased a new position in Sweetgreen in the fourth quarter worth approximately $52,558,000. Invesco Ltd. lifted its stake in shares of Sweetgreen by 40.9% in the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock valued at $176,850,000 after purchasing an additional 1,601,666 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Sweetgreen by 30.1% during the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock worth $142,106,000 after purchasing an additional 1,025,341 shares during the period. Frontier Capital Management Co. LLC increased its position in shares of Sweetgreen by 189.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company’s stock worth $36,369,000 after purchasing an additional 743,157 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Sweetgreen by 848.5% during the 4th quarter. Voya Investment Management LLC now owns 748,581 shares of the company’s stock worth $24,000,000 after purchasing an additional 669,657 shares during the last quarter. 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.