Nicolas Jammet Sells 170,199 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the sale, the insider now owns 1,760,034 shares of the company’s stock, valued at $66,406,082.82. The trade was a 8.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nicolas Jammet also recently made the following trade(s):

• On Thursday, December 5th, Nicolas Jammet sold 33,598 shares of Sweetgreen stock. The stock was sold at an average price of $40.14, for a total transaction of $1,348,623.72.
• On Tuesday, December 3rd, Nicolas Jammet sold 41,999 shares of Sweetgreen stock. The shares were sold at an average price of $38.68, for a total value of $1,624,521.32.
• On Monday, November 25th, Nicolas Jammet sold 14,551 shares of Sweetgreen stock. The stock was sold at an average price of $45.00, for a total value of $654,795.00.
• On Wednesday, November 6th, Nicolas Jammet sold 16,751 shares of Sweetgreen stock. The stock was sold at an average price of $40.04, for a total value of $670,710.04.

Sweetgreen Trading Up 1.9 %

NYSE SG opened at $35.12 on Tuesday. The firm’s fifty day simple moving average is $38.37 and its two-hundred day simple moving average is $33.46. The firm has a market capitalization of $4.06 billion, a P/E ratio of -45.03 and a beta of 2.32. Sweetgreen, Inc. has a 12-month low of $9.66 and a 12-month high of $45.12.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SG shares. UBS Group raised their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Piper Sandler restated 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. The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. TD Cowen reissued a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. Finally, KeyCorp initiated coverage on Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC boosted its holdings 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. Franklin Resources Inc. raised its position in shares of Sweetgreen by 1,399.0% in the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company’s stock valued at $4,365,000 after purchasing an additional 103,664 shares during the last quarter. Tidal Investments LLC boosted its stake in Sweetgreen by 848.2% in the 3rd quarter. Tidal Investments LLC now owns 270,141 shares of the company’s stock worth $9,576,000 after purchasing an additional 241,652 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Sweetgreen by 0.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 311,630 shares of the company’s stock worth $11,048,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Sweetgreen by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock valued at $79,757,000 after purchasing an additional 116,243 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other 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.