Jamie Mcconnell Sells 15,033 Shares of Sweetgreen (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CFO Jamie Mcconnell sold 15,033 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.21, for a total value of $93,354.93. Following the transaction, the chief financial officer owned 210,489 shares in the company, valued at approximately $1,307,136.69. This represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sweetgreen Stock Performance

NYSE:SG opened at $6.42 on Thursday. Sweetgreen, Inc. has a one year low of $4.49 and a one year high of $10.63. The stock has a market cap of $764.83 million, a PE ratio of 64.26 and a beta of 2.19. The stock has a 50 day moving average price of $7.31 and a 200 day moving average price of $6.79.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SG. Woodson Capital Management LP boosted its stake in shares of Sweetgreen by 152.6% in the fourth quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $40,560,000 after purchasing an additional 3,625,000 shares during the period. Marshall Wace LLP increased its stake in Sweetgreen by 1,428.8% during the 3rd quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock worth $31,313,000 after buying an additional 3,667,306 shares during the period. Federated Hermes Inc. increased its stake in Sweetgreen by 366.8% during the 4th quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company’s stock worth $17,900,000 after buying an additional 2,080,628 shares during the period. Geode Capital Management LLC lifted its holdings in Sweetgreen by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,453,564 shares of the company’s stock worth $16,589,000 after buying an additional 16,281 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Sweetgreen by 35.6% during the 4th quarter. BNP Paribas Financial Markets now owns 2,295,867 shares of the company’s stock worth $15,520,000 after buying an additional 603,029 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Sweetgreen from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $8.00 to $13.00 in a research report on Friday, May 22nd. Royal Bank Of Canada decreased their target price on shares of Sweetgreen from $7.00 to $6.50 and set an “outperform” rating on the stock in a report on Friday, August 7th. TD Cowen dropped their price target on shares of Sweetgreen from $8.00 to $5.00 and set a “hold” rating for the company in a research note on Friday, August 7th. Citigroup cut their price target on shares of Sweetgreen from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, BNP Paribas Exane lifted their price target on shares of Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.