Sweetgreen, Inc. (NYSE:SG) CTO Sells $148,015.35 in Stock

Sweetgreen, Inc. (NYSE:SG) CTO Wouleta Ayele sold 4,347 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $148,015.35. Following the completion of the transaction, the chief technology officer now owns 140,302 shares of the company’s stock, valued at $4,777,283.10. This represents a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Sweetgreen Trading Up 8.2 %

SG stock opened at $41.00 on Friday. Sweetgreen, Inc. has a 1-year low of $9.21 and a 1-year high of $42.77. The business’s 50 day simple moving average is $36.76 and its 200 day simple moving average is $32.24. The firm has a market capitalization of $4.74 billion, a PE ratio of -52.56 and a beta of 2.32.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SG shares. UBS Group raised their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Morgan Stanley increased their price objective on shares of 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 $45.00 target price on shares of Sweetgreen in a research report on Monday. Finally, Oppenheimer increased their price target on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.80.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently modified their holdings of SG. Essex Investment Management Co. LLC boosted its holdings in shares of Sweetgreen by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock worth $3,993,000 after buying an additional 314 shares during the period. Evolutionary Tree Capital Management LLC raised its holdings in Sweetgreen by 0.7% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock valued at $1,982,000 after acquiring an additional 474 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Sweetgreen by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after acquiring an additional 537 shares during the period. KBC Group NV raised its holdings 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 acquiring an additional 704 shares during the period. Finally, Pier Capital LLC raised its holdings in Sweetgreen by 0.3% in the 3rd quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after acquiring an additional 761 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.