Insider Selling: Sweetgreen, Inc. (NYSE:SG) Insider Sells 170,199 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 170,199 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $37.73, for a total value of $6,421,608.27. Following the completion of the sale, the insider now owns 1,760,034 shares of the company’s stock, valued at $66,406,082.82. The trade was a 8.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, December 5th, Nicolas Jammet sold 33,598 shares of Sweetgreen stock. The stock was sold at an average price of $40.14, for a total value of $1,348,623.72.
• On Tuesday, December 3rd, Nicolas Jammet sold 41,999 shares of Sweetgreen stock. The shares were sold at an average price of $38.68, for a total value of $1,624,521.32.
• On Monday, November 25th, Nicolas Jammet sold 14,551 shares of Sweetgreen stock. The stock was sold at an average price of $45.00, for a total value of $654,795.00.
• On Wednesday, November 6th, Nicolas Jammet sold 16,751 shares of Sweetgreen stock. The shares were sold at an average price of $40.04, for a total value of $670,710.04.

Sweetgreen Stock Performance

Shares of SG traded up $0.66 on Monday, reaching $35.12. The stock had a trading volume of 1,927,749 shares, compared to its average volume of 2,862,313. Sweetgreen, Inc. has a 12-month low of $9.66 and a 12-month high of $45.12. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of -45.03 and a beta of 2.32. The company has a 50-day simple moving average of $38.37 and a 200-day simple moving average of $33.46.

Hedge Funds Weigh In On Sweetgreen

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new position in shares of Sweetgreen during the third quarter valued at approximately $35,000. Quest Partners LLC purchased a new position in Sweetgreen during the second quarter valued at $76,000. KBC Group NV raised its stake in Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after buying an additional 704 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Sweetgreen in the third quarter worth $155,000. Finally, Canton Hathaway LLC purchased a new stake in shares of Sweetgreen in the third quarter worth $177,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SG. Bank of America increased their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. KeyCorp initiated coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. TD Cowen reaffirmed a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. Finally, Piper Sandler reiterated 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. Five 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 company currently has a consensus rating of “Moderate Buy” and an average 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.