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 on Wednesday, November 27th. The stock was sold at an average price of $42.11, for a total transaction of $187,979.04. Following the completion of the sale, the director now owns 32,637 shares in the company, valued at $1,374,344.07. This represents a 12.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Sweetgreen Stock Performance

SG stock traded down $0.88 on Wednesday, hitting $42.39. 1,827,518 shares of the company’s stock were exchanged, compared to its average volume of 2,881,304. The firm has a 50 day moving average price of $37.32 and a two-hundred day moving average price of $32.73. Sweetgreen, Inc. has a 12-month low of $9.31 and a 12-month high of $45.12. The stock has a market cap of $4.90 billion, a P/E ratio of -54.40 and a beta of 2.32.

Hedge Funds Weigh In On Sweetgreen

Hedge funds and other institutional investors have recently modified their holdings of the stock. Essex Investment Management Co. LLC grew its holdings in Sweetgreen by 0.3% during 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 during the period. Evolutionary Tree Capital Management LLC grew its stake in shares of Sweetgreen by 0.7% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock worth $1,982,000 after purchasing an additional 474 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Sweetgreen by 2.0% during the 3rd 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 in the last quarter. KBC Group NV boosted its holdings in Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after buying an additional 704 shares in the last quarter. Finally, Pier Capital LLC grew its position in Sweetgreen by 0.3% during the third quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after buying an additional 761 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Citigroup lifted their target price on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Oppenheimer raised their price target on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Bank of America increased their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.