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

Sweetgreen, Inc. (NYSE:SG) CFO Jamie McConnell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $13.76, for a total transaction of $55,040.00. Following the sale, the chief financial officer owned 206,489 shares in the company, valued at $2,841,288.64. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $6.21, for a total transaction of $93,354.93.

Sweetgreen Trading Down 0.9%

SG traded down $0.12 during trading hours on Tuesday, hitting $13.24. 5,822,658 shares of the company’s stock were exchanged, compared to its average volume of 5,159,279. Sweetgreen, Inc. has a 12-month low of $4.49 and a 12-month high of $13.89. The firm has a 50 day moving average of $9.18 and a 200 day moving average of $7.37. The firm has a market cap of $1.58 billion, a P/E 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). Sweetgreen had a negative return on equity of 31.19% and a net margin of 2.78%. The business had revenue of $176.02 million for the quarter, compared to analysts’ expectations of $170.07 million. During the same period last year, the firm earned ($0.31) earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Sweetgreen, Inc. will post -1.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SG has been the topic of several recent analyst reports. DA Davidson increased their target price on Sweetgreen from $5.50 to $12.00 and gave the company a “neutral” rating in a report on Friday. KeyCorp increased their price objective on Sweetgreen from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Friday. Wall Street Zen raised Sweetgreen from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada raised their target price on Sweetgreen from $6.50 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Finally, Morgan Stanley boosted their target price on Sweetgreen from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.88.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SG. Ibex Investors LLC boosted its stake in shares of Sweetgreen by 5.8% during the third quarter. Ibex Investors LLC now owns 1,188,000 shares of the company’s stock worth $10,538,000 after buying an additional 65,000 shares during the period. Fulcrum Asset Management LLP grew its holdings in shares of Sweetgreen by 5,967.2% during the third quarter. Fulcrum Asset Management LLP now owns 13,894 shares of the company’s stock worth $121,000 after buying an additional 13,665 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Sweetgreen by 175.2% during the third quarter. Sterling Capital Management LLC now owns 2,936 shares of the company’s stock worth $26,000 after buying an additional 1,869 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Sweetgreen in the 3rd quarter valued at about $68,000. Finally, Curated Wealth Partners LLC acquired a new position in Sweetgreen in the 3rd quarter valued at about $480,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.