Insider Selling: Sweetgreen, Inc. (NYSE:SG) COO Sells 4,977 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) COO Rossann Williams sold 4,977 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $118,452.60. Following the transaction, the chief operating officer now directly owns 95,516 shares of the company’s stock, valued at $2,273,280.80. This represents a 4.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Sweetgreen Trading Up 1.2 %

Shares of Sweetgreen stock opened at $23.92 on Thursday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -30.66 and a beta of 2.44. Sweetgreen, Inc. has a 1-year low of $18.77 and a 1-year high of $45.12. The firm’s 50-day moving average price is $27.61 and its two-hundred day moving average price is $33.10.

Institutional Trading of Sweetgreen

Several hedge funds have recently modified their holdings of SG. Oppenheimer & Co. Inc. grew its stake in shares of Sweetgreen by 9.9% during the third quarter. Oppenheimer & Co. Inc. now owns 26,483 shares of the company’s stock valued at $939,000 after purchasing an additional 2,380 shares during the last quarter. KBC Group NV grew its stake in shares of 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 purchasing an additional 704 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Sweetgreen by 91.9% during the third quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock valued at $1,077,000 after purchasing an additional 14,545 shares during the last quarter. Quest Partners LLC grew 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 valued at $151,000 after purchasing an additional 1,728 shares during the last quarter. Finally, GLOBALT Investments LLC GA bought a new stake in shares of Sweetgreen during the third quarter valued at approximately $591,000. 95.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SG has been the subject of several recent research reports. TD Securities dropped their price target on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Citigroup dropped their price target on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th. The Goldman Sachs Group dropped their price target on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, KeyCorp initiated coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sweetgreen has an average rating of “Moderate Buy” and a consensus price target of $36.27.

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.