Bradley E. Singer Sells 42,730 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) Director Bradley E. Singer sold 42,730 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $38.09, for a total transaction of $1,627,585.70. Following the completion of the transaction, the director now directly owns 139,052 shares of the company’s stock, valued at approximately $5,296,490.68. The trade was a 23.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Sweetgreen Stock Performance

Shares of NYSE:SG opened at $43.44 on Friday. The firm’s 50 day simple moving average is $36.93 and its 200-day simple moving average is $32.38. Sweetgreen, Inc. has a one year low of $9.21 and a one year high of $44.75. The firm has a market cap of $5.02 billion, a PE ratio of -55.69 and a beta of 2.32.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Essex Investment Management Co. LLC increased its position in Sweetgreen by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock valued at $3,993,000 after purchasing an additional 314 shares during the period. Evolutionary Tree Capital Management LLC increased its holdings in Sweetgreen by 0.7% during the second quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock valued at $1,982,000 after buying an additional 474 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Sweetgreen by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after buying an additional 537 shares in the last quarter. KBC Group NV lifted 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 during the period. Finally, Pier Capital LLC boosted its position in Sweetgreen by 0.3% during the 3rd quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after acquiring an additional 761 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SG has been the topic of a number of recent research reports. TD Cowen restated a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. UBS Group increased their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. Oppenheimer boosted their price objective on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Morgan Stanley raised 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. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.