Insider Selling: Sweetgreen, Inc. (NYSE:SG) CEO Sells 5,717 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 5,717 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the completion of the sale, the chief executive officer now directly owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This represents a 0.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Sweetgreen Trading Up 2.2 %

SG stock opened at $24.44 on Friday. The stock has a 50-day moving average price of $27.46 and a 200-day moving average price of $33.04. Sweetgreen, Inc. has a 1-year low of $18.77 and a 1-year high of $45.12. The firm has a market cap of $2.87 billion, a PE ratio of -31.33 and a beta of 2.44.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SG. Steward Partners Investment Advisory LLC raised its position in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after acquiring an additional 1,000 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after acquiring an additional 741 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after buying an additional 494 shares during the period. Millstone Evans Group LLC bought a new stake in Sweetgreen in the 4th quarter valued at about $53,000. Finally, Denver PWM LLC bought a new stake in Sweetgreen in the 4th quarter valued at about $60,000. 95.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SG shares. Oppenheimer reduced their target price on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Piper Sandler dropped their price target on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 price target on shares of Sweetgreen in a research note on Tuesday, February 25th. The Goldman Sachs Group dropped their price target on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, TD Securities dropped their price target on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Sweetgreen presently has a consensus rating of “Moderate Buy” and an average 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.