Sweetgreen, Inc. (NYSE:SG) CTO Sells $148,015.35 in Stock

Sweetgreen, Inc. (NYSE:SG) CTO Wouleta Ayele sold 4,347 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.05, for a total transaction of $148,015.35. Following the completion of the transaction, the chief technology officer now directly owns 140,302 shares in the company, valued at $4,777,283.10. This represents a 3.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sweetgreen Stock Up 12.0 %

Shares of Sweetgreen stock opened at $37.89 on Wednesday. The stock has a market capitalization of $4.38 billion, a P/E ratio of -48.58 and a beta of 2.32. Sweetgreen, Inc. has a 12-month low of $9.21 and a 12-month high of $42.77. The company has a 50-day simple moving average of $36.50 and a 200 day simple moving average of $32.13.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler reissued a “neutral” rating and issued a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. UBS Group boosted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Bank of America lifted their price objective on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Morgan Stanley raised their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, Citigroup increased their price objective on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.80.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management bought a new stake in Sweetgreen during the 3rd quarter worth about $35,000. Quest Partners LLC bought a new stake in shares of Sweetgreen during the second quarter worth approximately $76,000. KBC Group NV lifted its holdings in Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after buying an additional 704 shares during the period. Daiwa Securities Group Inc. bought a new position in Sweetgreen in the third quarter valued at approximately $155,000. Finally, Canton Hathaway LLC acquired a new stake in Sweetgreen during the 3rd quarter worth $177,000. Institutional investors own 95.75% of the company’s stock.

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.