Sweetgreen (NYSE:SG) COO Sells $29,863.89 in Stock

Sweetgreen, Inc. (NYSE:SG) COO Jason Miles Cochran sold 4,809 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.21, for a total value of $29,863.89. Following the transaction, the chief operating officer directly owned 207,076 shares in the company, valued at $1,285,941.96. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sweetgreen Price Performance

SG stock opened at $6.58 on Friday. Sweetgreen, Inc. has a 1 year low of $4.49 and a 1 year high of $10.63. The company has a market cap of $783.28 million, a P/E ratio of 65.81 and a beta of 2.19. The stock’s fifty day moving average price is $7.26 and its 200-day moving average price is $6.80.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). Sweetgreen had a net margin of 2.01% and a negative return on equity of 32.94%. The firm had revenue of $192.66 million for the quarter, compared to analysts’ expectations of $194.50 million. During the same quarter last year, the company posted ($0.20) EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts expect that Sweetgreen, Inc. will post -0.98 earnings per share for the current year.

Institutional Trading of Sweetgreen

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC lifted its position in shares of Sweetgreen by 165.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after buying an additional 2,349 shares in the last quarter. Fifth Third Bancorp purchased a new stake in Sweetgreen in the 1st quarter worth approximately $38,000. CWM LLC raised its stake in Sweetgreen by 212.2% during the 4th quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after acquiring an additional 4,984 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Sweetgreen by 281.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock worth $53,000 after acquiring an additional 5,839 shares during the period. Finally, Onyx Bridge Wealth Group LLC bought a new stake in Sweetgreen during the 1st quarter worth approximately $56,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. UBS Group upgraded shares of Sweetgreen from a “neutral” rating to a “buy” rating in a research note on Friday, August 7th. DA Davidson cut their target price on shares of Sweetgreen from $7.00 to $5.50 and set a “neutral” rating for the company in a research report on Monday, August 10th. KeyCorp restated a “sector weight” rating on shares of Sweetgreen in a research report on Monday, August 10th. TD Cowen reduced their target price on shares of Sweetgreen from $8.00 to $5.00 and set a “hold” rating for the company in a report on Friday, August 7th. Finally, BNP Paribas Exane increased their price target on shares of Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a research report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.10.

Sweetgreen Company Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.