Sweetgreen, Inc. (NYSE:SG) CEO Sells $1,343,111.04 in Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 33,444 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $40.16, for a total value of $1,343,111.04. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $77,517,956.48. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Jonathan Neman also recently made the following trade(s):

• On Tuesday, December 3rd, Jonathan Neman sold 41,805 shares of Sweetgreen stock. The shares were sold at an average price of $38.61, for a total value of $1,614,091.05.
• On Monday, November 25th, Jonathan Neman sold 14,745 shares of Sweetgreen stock. The shares were sold at an average price of $45.00, for a total value of $663,525.00.
• On Wednesday, November 6th, Jonathan Neman sold 20,937 shares of Sweetgreen stock. The shares were sold at an average price of $40.03, for a total value of $838,108.11.
• On Monday, October 28th, Jonathan Neman sold 1,010 shares of Sweetgreen stock. The shares were sold at an average price of $40.01, for a total value of $40,410.10.
• On Friday, September 13th, Jonathan Neman sold 17,020 shares of Sweetgreen stock. The shares were sold at an average price of $35.08, for a total value of $597,061.60.

Sweetgreen Price Performance

NYSE:SG opened at $36.60 on Wednesday. The firm’s 50-day moving average price is $38.20 and its 200-day moving average price is $33.29. The company has a market capitalization of $4.23 billion, a PE ratio of -46.92 and a beta of 2.32. Sweetgreen, Inc. has a 1-year low of $9.66 and a 1-year high of $45.12.

Wall Street Analyst Weigh In

Several brokerages recently commented on SG. Oppenheimer lifted their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and set a $39.00 price target (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. UBS Group upped their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Bank of America upped their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Sweetgreen currently has an average rating of “Moderate Buy” and an average price target of $39.80.

Institutional Trading of Sweetgreen

A number of hedge funds and other institutional investors have recently modified their holdings of SG. Oliver Luxxe Assets LLC purchased a new stake in Sweetgreen during the 3rd quarter valued at about $1,973,000. GLOBALT Investments LLC GA bought a new position in Sweetgreen during the 3rd quarter valued at about $591,000. Verition Fund Management LLC lifted its stake in Sweetgreen by 189.6% during the 3rd quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock valued at $6,151,000 after acquiring an additional 113,586 shares during the period. Davidson Kempner Capital Management LP lifted its stake in Sweetgreen by 40.1% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock valued at $17,330,000 after acquiring an additional 164,600 shares during the period. Finally, Zweig DiMenna Associates LLC bought a new position in Sweetgreen during the 3rd quarter valued at about $3,329,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

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.