Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman Sells 5,717 Shares

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 5,717 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $136,064.60. Following the completion of the transaction, the chief executive officer now owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Sweetgreen Price Performance

Shares of SG opened at $23.66 on Wednesday. The firm has a 50 day simple moving average of $27.78 and a two-hundred day simple moving average of $33.16. The company has a market cap of $2.77 billion, a P/E ratio of -30.33 and a beta of 2.44. Sweetgreen, Inc. has a one year low of $18.77 and a one year high of $45.12.

Hedge Funds Weigh In On Sweetgreen

A number of institutional investors have recently modified their holdings of SG. Wealth Enhancement Advisory Services LLC boosted its stake in Sweetgreen by 4.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company’s stock valued at $936,000 after buying an additional 1,278 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Sweetgreen in the 4th quarter valued at approximately $5,492,000. Forum Financial Management LP grew its holdings in shares of Sweetgreen by 17.5% during the 4th quarter. Forum Financial Management LP now owns 8,112 shares of the company’s stock valued at $260,000 after purchasing an additional 1,209 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Sweetgreen during the 4th quarter worth approximately $395,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Sweetgreen by 18.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,552 shares of the company’s stock valued at $7,263,000 after purchasing an additional 35,276 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Oppenheimer decreased their target price on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. KeyCorp began coverage on Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Citigroup dropped their target price on Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Piper Sandler decreased their price target on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, UBS Group dropped their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock 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.