Sweetgreen (NYSE:SG) CFO Sells 4,000 Shares of Company Stock

Sweetgreen, Inc. (NYSE:SG) CFO Jamie McConnell sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $13.76, for a total value of $55,040.00. Following the completion of the transaction, the chief financial officer directly owned 206,489 shares in the company, valued at approximately $2,841,288.64. The trade was a 1.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Jamie Mcconnell also recently made the following trade(s):

• On Monday, August 17th, Jamie McConnell sold 15,033 shares of Sweetgreen stock. The stock was sold at an average price of $6.21, for a total value of $93,354.93.

Sweetgreen Stock Down 0.9%

Shares of NYSE SG traded down $0.12 during mid-day trading on Tuesday, hitting $13.24. 5,822,658 shares of the company were exchanged, compared to its average volume of 5,159,279. The stock has a 50 day simple moving average of $9.18 and a 200-day simple moving average of $7.37. Sweetgreen, Inc. has a 1-year low of $4.49 and a 1-year high of $13.89. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 88.27 and a beta of 2.11.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). The company had revenue of $176.02 million for the quarter, compared to analysts’ expectations of $170.07 million. Sweetgreen had a net margin of 2.78% and a negative return on equity of 31.19%. Sweetgreen’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.31) EPS. Analysts anticipate that Sweetgreen, Inc. will post -1.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sweetgreen

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP acquired a new position in Sweetgreen during the second quarter worth $4,557,000. Bank of New York Mellon Corp acquired a new stake in Sweetgreen in the second quarter valued at $2,792,000. Granahan Investment Management LLC acquired a new stake in Sweetgreen in the first quarter valued at $1,472,000. Quantinno Capital Management LP grew its holdings in Sweetgreen by 495.3% in the first quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock valued at $1,006,000 after purchasing an additional 161,209 shares during the last quarter. Finally, Ibex Investors LLC increased its position in shares of Sweetgreen by 5.8% in the third quarter. Ibex Investors LLC now owns 1,188,000 shares of the company’s stock valued at $10,538,000 after buying an additional 65,000 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SG. UBS Group lifted their price target on Sweetgreen from $6.50 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Wells Fargo & Company boosted their target price on shares of Sweetgreen from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sweetgreen in a research note on Wednesday, November 4th. KeyCorp upped their price target on shares of Sweetgreen from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Citigroup increased their price target on shares of Sweetgreen from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday. Six equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.88.

About Sweetgreen

Sweetgreen, Inc. is a fast-casual restaurant company that serves salads, grain bowls and other meals made with vegetables, grains and proteins. Its menu includes seasonal offerings, and customers can order in restaurants or through the company’s digital channels. Founded in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen began as a single restaurant near Georgetown University in Washington, D.C. The company has since expanded to markets across the United States. Sweetgreen also uses technology in its restaurant operations, including its Infinite Kitchen automated food-preparation system.