Sweetgreen, Inc. (NYSE:SG) Insider Nicolas Jammet Sells 16,751 Shares

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 16,751 shares of Sweetgreen stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.04, for a total value of $670,710.04. Following the completion of the transaction, the insider now owns 1,930,233 shares in the company, valued at $77,286,529.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Nicolas Jammet also recently made the following trade(s):

• 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.
• On Monday, August 26th, Nicolas Jammet sold 169,767 shares of Sweetgreen stock. The shares were sold at an average price of $35.77, for a total transaction of $6,072,565.59.

Sweetgreen Price Performance

Shares of NYSE SG opened at $42.24 on Friday. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of -51.51 and a beta of 2.32. The firm’s 50 day simple moving average is $35.43 and its 200-day simple moving average is $31.21. Sweetgreen, Inc. has a 12 month low of $8.64 and a 12 month high of $42.77.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $184.60 million during the quarter, compared to analysts’ expectations of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. During the same period in the previous year, the firm posted ($0.20) EPS. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. Analysts anticipate that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sweetgreen

Large investors have recently bought and sold shares of the business. GLOBALT Investments LLC GA acquired a new position in Sweetgreen during the third quarter worth $591,000. Quest Partners LLC increased its stake in shares of Sweetgreen by 68.4% during the third quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock worth $151,000 after purchasing an additional 1,728 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Sweetgreen by 91.9% during the 3rd quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock worth $1,077,000 after purchasing an additional 14,545 shares during the last quarter. KBC Group NV lifted its stake in Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after buying an additional 704 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Sweetgreen by 9.9% in the third quarter. Oppenheimer & Co. Inc. now owns 26,483 shares of the company’s stock worth $939,000 after acquiring an additional 2,380 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analyst Ratings Changes

SG has been the topic of several research analyst reports. Morgan Stanley boosted their target price on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. TD Cowen reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Sweetgreen in a research report on Friday, September 27th. Piper Sandler reissued a “neutral” rating and set a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Oppenheimer lifted their price objective on shares of Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Citigroup lifted their price target on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Sweetgreen currently has an average rating of “Moderate Buy” and an average price target of $38.20.

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.