Rossann Williams Sells 4,977 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) COO Rossann Williams sold 4,977 shares of Sweetgreen stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $118,452.60. Following the sale, the chief operating officer now directly owns 95,516 shares in the company, valued at approximately $2,273,280.80. The trade was a 4.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Sweetgreen Stock Down 1.9 %

Shares of SG stock traded down $0.47 during trading hours on Tuesday, hitting $23.66. 2,127,549 shares of the company’s stock traded hands, compared to its average volume of 3,082,971. The stock’s fifty day simple moving average is $27.94 and its two-hundred day simple moving average is $33.22. Sweetgreen, Inc. has a 12-month low of $18.77 and a 12-month high of $45.12. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -30.33 and a beta of 2.44.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds have recently added to or reduced their stakes in SG. Oppenheimer & Co. Inc. raised its holdings in Sweetgreen by 9.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,483 shares of the company’s stock worth $939,000 after acquiring an additional 2,380 shares during the last quarter. KBC Group NV raised its holdings in Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after acquiring an additional 704 shares during the last quarter. Natixis Advisors LLC raised its holdings in Sweetgreen by 91.9% in the 3rd quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock worth $1,077,000 after acquiring an additional 14,545 shares during the last quarter. Quest Partners LLC raised its holdings in Sweetgreen by 68.4% in the 3rd quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock worth $151,000 after acquiring an additional 1,728 shares during the last quarter. Finally, GLOBALT Investments LLC GA purchased a new position in Sweetgreen in the 3rd quarter worth approximately $591,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SG has been the topic of several research reports. Piper Sandler cut their price objective on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. KeyCorp initiated coverage on Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating on the stock. TD Securities cut their price objective on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Oppenheimer cut their price objective on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Finally, TD Cowen reaffirmed a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.27.

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.