Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman Sells 5,717 Shares

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 5,717 shares of the business’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 transaction, the chief executive officer now owns 1,810,263 shares of the company’s stock, valued at approximately $43,084,259.40. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Sweetgreen Trading Down 1.9 %

Shares of SG traded down $0.47 during trading hours on Tuesday, hitting $23.66. The company had a trading volume of 2,127,549 shares, compared to its average volume of 3,082,971. The company has a market capitalization of $2.77 billion, a PE ratio of -30.33 and a beta of 2.44. Sweetgreen, Inc. has a one year low of $18.77 and a one year high of $45.12. The company’s fifty day moving average price is $27.94 and its two-hundred day moving average price is $33.22.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a report on Tuesday, February 25th. UBS Group dropped their price objective on Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Morgan Stanley dropped their price objective on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Citigroup dropped their price objective on Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, KeyCorp began coverage on Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and an average price target of $36.27.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. FMR LLC raised its position in shares of Sweetgreen by 3.4% in the 4th quarter. FMR LLC now owns 10,103,969 shares of the company’s stock worth $323,933,000 after acquiring an additional 329,789 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Sweetgreen by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock worth $306,009,000 after acquiring an additional 351,240 shares in the last quarter. Invesco Ltd. raised its position in shares of Sweetgreen by 40.9% in the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock worth $176,850,000 after acquiring an additional 1,601,666 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Sweetgreen by 30.1% in the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock worth $142,106,000 after acquiring an additional 1,025,341 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock worth $82,032,000 after acquiring an additional 272,340 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

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.