Wouleta Ayele Sells 2,831 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CTO Wouleta Ayele sold 2,831 shares of Sweetgreen stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $36.31, for a total transaction of $102,793.61. Following the completion of the sale, the chief technology officer now owns 144,649 shares in the company, valued at $5,252,205.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Sweetgreen Stock Up 4.0 %

Shares of Sweetgreen stock opened at $34.47 on Thursday. The business has a fifty day simple moving average of $28.64 and a 200-day simple moving average of $24.78. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $37.88. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of -37.06 and a beta of 2.30.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The business had revenue of $184.60 million during the quarter, compared to the consensus estimate of $180.79 million. During the same quarter last year, the firm posted ($0.20) earnings per share. Sweetgreen’s revenue was up 21.0% compared to the same quarter last year. Analysts anticipate that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on SG shares. JPMorgan Chase & Co. raised their price target on shares of Sweetgreen from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. UBS Group raised their target price on Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Oppenheimer boosted their price target on Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. TD Cowen increased their price target on Sweetgreen from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, June 13th. Finally, Citigroup lifted their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Institutional Trading of Sweetgreen

A number of hedge funds and other institutional investors have recently made changes to their positions in SG. Driehaus Capital Management LLC grew its position in Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after buying an additional 1,878,216 shares during the last quarter. Hood River Capital Management LLC acquired a new position in shares of Sweetgreen in the 1st quarter worth $29,105,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Sweetgreen during the second quarter worth $33,449,000. Renaissance Technologies LLC purchased a new stake in shares of Sweetgreen during the second quarter valued at $29,109,000. Finally, Teca Partners LP acquired a new position in shares of Sweetgreen in the 4th quarter valued at $8,475,000. 95.75% of the stock is currently owned by institutional investors.

About Sweetgreen

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.