Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman Sells 7,400 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 7,400 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $28.81, for a total value of $213,194.00. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at $55,609,868.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Jonathan Neman also recently made the following trade(s):

• On Monday, August 26th, Jonathan Neman sold 169,772 shares of Sweetgreen stock. The stock was sold at an average price of $35.77, for a total value of $6,072,744.44.

Sweetgreen Trading Up 6.2 %

Shares of SG stock opened at $32.21 on Thursday. Sweetgreen, Inc. has a 12-month low of $8.64 and a 12-month high of $38.53. The business’s fifty day simple moving average is $29.19 and its 200-day simple moving average is $26.87. The company has a market cap of $3.68 billion, a PE ratio of -34.63 and a beta of 2.32.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The business had revenue of $184.60 million for the quarter, compared to analyst estimates of $180.79 million. During the same period in the prior year, the company earned ($0.20) earnings per share. The company’s quarterly revenue was up 21.0% on a year-over-year basis. On average, equities analysts forecast that Sweetgreen, Inc. will post -0.75 earnings per share for the current year.

Hedge Funds Weigh In On Sweetgreen

Several hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Sweetgreen by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 731,369 shares of the company’s stock worth $8,264,000 after purchasing an additional 15,463 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Sweetgreen by 38.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock worth $19,549,000 after buying an additional 476,998 shares during the period. Panagora Asset Management Inc. grew its holdings in shares of Sweetgreen by 1.0% during the fourth quarter. Panagora Asset Management Inc. now owns 182,254 shares of the company’s stock valued at $2,059,000 after buying an additional 1,733 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Sweetgreen by 1.9% in the 4th quarter. Brown Advisory Inc. now owns 108,311 shares of the company’s stock valued at $1,224,000 after acquiring an additional 1,987 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its stake in Sweetgreen by 89.4% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 27,047 shares of the company’s stock worth $306,000 after acquiring an additional 12,763 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SG. JPMorgan Chase & Co. upped their price objective on shares of Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. UBS Group increased their price objective on shares of Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Piper Sandler reissued a “neutral” rating and issued a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Royal Bank of Canada upped their target price on Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Finally, The Goldman Sachs Group began coverage on Sweetgreen in a report on Thursday, June 13th. They issued a “buy” rating and a $39.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.20.

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.