Sweetgreen, Inc. (NYSE:SG) Director Sells $50,527.40 in Stock

Sweetgreen, Inc. (NYSE:SG) Director Nathaniel Ru sold 2,123 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 $50,527.40. Following the completion of the sale, the director now owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. This trade represents a 0.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Sweetgreen Trading Up 2.2 %

NYSE SG opened at $24.44 on Friday. Sweetgreen, Inc. has a 52 week low of $18.77 and a 52 week high of $45.12. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -31.33 and a beta of 2.44. The company has a 50-day moving average price of $27.46 and a two-hundred day moving average price of $33.04.

Analysts Set New Price Targets

SG has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Citigroup dropped their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. KeyCorp started coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating on the stock. Finally, Piper Sandler dropped their price objective on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.27.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sweetgreen by 4.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company’s stock valued at $936,000 after acquiring an additional 1,278 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Sweetgreen in the fourth quarter valued at approximately $5,492,000. Forum Financial Management LP boosted its holdings in shares of Sweetgreen by 17.5% in the fourth quarter. Forum Financial Management LP now owns 8,112 shares of the company’s stock valued at $260,000 after acquiring an additional 1,209 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Sweetgreen in the fourth quarter valued at approximately $395,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Sweetgreen by 18.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,552 shares of the company’s stock valued at $7,263,000 after acquiring an additional 35,276 shares in the last quarter. Institutional investors own 95.75% of the company’s stock.

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.