Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman Sells 17,020 Shares

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 17,020 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $35.08, for a total value of $597,061.60. Following the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $67,712,398.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jonathan Neman also recently made the following trade(s):

• On Monday, September 9th, Jonathan Neman sold 7,400 shares of Sweetgreen stock. The stock was sold at an average price of $28.81, for a total transaction of $213,194.00.
• On Monday, August 26th, Jonathan Neman sold 169,772 shares of Sweetgreen stock. The shares were sold at an average price of $35.77, for a total transaction of $6,072,744.44.

Sweetgreen Stock Performance

Shares of NYSE:SG traded down $0.41 on Tuesday, hitting $33.74. The stock had a trading volume of 2,102,335 shares, compared to its average volume of 2,847,830. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -36.72 and a beta of 2.32. The firm’s 50 day moving average price is $29.61 and its 200-day moving average price is $27.44. Sweetgreen, Inc. has a twelve month low of $8.64 and a twelve month high of $38.53.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $184.60 million for the quarter, compared to the consensus estimate of $180.79 million. Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. Sweetgreen’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.20) earnings per share. As a group, sell-side analysts predict that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Institutional Investors Weigh In On Sweetgreen

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in Sweetgreen by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 731,369 shares of the company’s stock worth $8,264,000 after buying an additional 15,463 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Sweetgreen by 38.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock worth $19,549,000 after purchasing an additional 476,998 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Sweetgreen by 1.0% during the fourth quarter. Panagora Asset Management Inc. now owns 182,254 shares of the company’s stock valued at $2,059,000 after purchasing an additional 1,733 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Sweetgreen by 1.9% in the fourth quarter. Brown Advisory Inc. now owns 108,311 shares of the company’s stock valued at $1,224,000 after purchasing an additional 1,987 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in Sweetgreen by 89.4% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 27,047 shares of the company’s stock worth $306,000 after purchasing an additional 12,763 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SG. Bank of America upped 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. Piper Sandler reiterated a “neutral” rating and issued a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. TD Cowen upgraded Sweetgreen from a “hold” rating to a “buy” rating and boosted their price objective for the company from $31.00 to $43.00 in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised their target price on Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Finally, Oppenheimer boosted their price target on shares of Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sweetgreen currently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

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.