Sweetgreen, Inc. (NYSE:SG) Director Sells $187,979.04 in Stock

Sweetgreen, Inc. (NYSE:SG) Director Julie Bornstein sold 4,464 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $42.11, for a total value of $187,979.04. Following the completion of the sale, the director now owns 32,637 shares of the company’s stock, valued at $1,374,344.07. This trade represents a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sweetgreen Trading Down 2.0 %

Sweetgreen stock traded down $0.88 during midday trading on Wednesday, hitting $42.39. 1,827,518 shares of the stock were exchanged, compared to its average volume of 2,881,304. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of -54.40 and a beta of 2.32. The stock’s 50-day simple moving average is $37.32 and its 200 day simple moving average is $32.73. Sweetgreen, Inc. has a fifty-two week low of $9.31 and a fifty-two week high of $45.12.

Hedge Funds Weigh In On Sweetgreen

Several hedge funds have recently bought and sold shares of the company. Essex Investment Management Co. LLC grew its stake in shares of Sweetgreen by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock worth $3,993,000 after acquiring an additional 314 shares in the last quarter. Evolutionary Tree Capital Management LLC raised its stake in shares of Sweetgreen by 0.7% in the second 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Sweetgreen by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after purchasing an additional 537 shares during the period. KBC Group NV increased its holdings in Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares during the period. Finally, Pier Capital LLC raised its position 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 purchasing an additional 761 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SG. Citigroup increased their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Oppenheimer lifted their price objective on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. TD Cowen reissued a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Bank of America lifted their price target on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Finally, UBS Group raised their price objective on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Sweetgreen 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.