Sweetgreen, Inc. (NYSE:SG) CEO Sells $136,064.60 in Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 5,717 shares of the company’s stock in a transaction on Monday, March 17th. The stock was 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 in the company, valued at $43,084,259.40. This trade represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sweetgreen Stock Performance

Shares of SG opened at $23.92 on Thursday. The stock has a market capitalization of $2.81 billion, a P/E ratio of -30.66 and a beta of 2.44. Sweetgreen, Inc. has a 1 year low of $18.77 and a 1 year high of $45.12. The company’s fifty day moving average is $27.61 and its two-hundred day moving average is $33.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its holdings in Sweetgreen by 3.4% in the 4th quarter. FMR LLC now owns 10,103,969 shares of the company’s stock valued at $323,933,000 after purchasing an additional 329,789 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 valued at $306,009,000 after buying an additional 351,240 shares during the period. Invesco Ltd. boosted its stake in shares of Sweetgreen by 40.9% in the fourth quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock valued at $176,850,000 after buying an additional 1,601,666 shares in the last quarter. Wellington Management Group LLP grew its holdings in Sweetgreen by 30.1% during the fourth 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 during the period. Finally, Lord Abbett & CO. LLC raised its position in Sweetgreen by 13.3% in the third 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 currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on SG. KeyCorp started coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating on the stock. Piper Sandler lowered their price objective on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. 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 reissued an “outperform” rating and issued a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th. Finally, UBS Group dropped their price target on shares of Sweetgreen from $45.00 to $35.00 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 stock. Based on data from MarketBeat.com, Sweetgreen currently has an average 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.