Sweetgreen (NYSE:SG) COO Jason Miles Cochran Sells 4,809 Shares

Sweetgreen, Inc. (NYSE:SG) COO Jason Miles Cochran sold 4,809 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.21, for a total transaction of $29,863.89. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sweetgreen Trading Down 0.7%

Sweetgreen stock traded down $0.04 during trading on Tuesday, hitting $5.84. The company had a trading volume of 3,942,091 shares, compared to its average volume of 5,121,456. The stock has a market cap of $695.19 million, a price-to-earnings ratio of 58.41 and a beta of 2.20. Sweetgreen, Inc. has a 1-year low of $4.49 and a 1-year high of $10.63. The company’s 50 day simple moving average is $7.40 and its 200-day simple moving average is $6.79.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%.The business 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 earned ($0.20) earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts forecast that Sweetgreen, Inc. will post -0.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Quantinno Capital Management LP lifted its position 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 acquiring an additional 161,209 shares during the last quarter. Ibex Investors LLC grew its holdings in shares of Sweetgreen by 5,058.7% during the fourth quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock worth $5,580,000 after purchasing an additional 809,400 shares during the last quarter. Granahan Investment Management LLC acquired a new stake in shares of Sweetgreen during the first quarter worth about $1,472,000. MYDA Advisors LLC acquired a new stake in shares of Sweetgreen during the fourth quarter worth about $676,000. Finally, BNP Paribas Financial Markets increased its position in shares of Sweetgreen by 35.6% during the fourth quarter. BNP Paribas Financial Markets now owns 2,295,867 shares of the company’s stock worth $15,520,000 after purchasing an additional 603,029 shares in the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on SG. BNP Paribas Exane boosted their target price on shares of Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a research note on Friday, May 8th. Citigroup cut their price target on Sweetgreen from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. JPMorgan Chase & Co. raised Sweetgreen from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $8.00 to $13.00 in a report on Friday, May 22nd. Weiss Ratings cut Sweetgreen from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada dropped their price objective on Sweetgreen from $7.00 to $6.50 and set an “outperform” rating on the stock in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.10.

About Sweetgreen

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.